Sirius Real Estate (LSE:SRE) reported an 11.3% year-on-year increase in its rent roll for the six months ended 30 September 2026, supported by acquisitions and organic growth across its German and UK operations.
Like-for-like rent roll increased 5.1%, with the company reporting similar levels of organic growth in Germany and the UK.
During the period, Sirius invested approximately €150 million in acquisitions at gross yields above 8%. The purchases included German business parks with defence-related companies among their occupiers.
The property group also expanded its self-storage operations and continued to rationalise smaller properties in its UK portfolio. Proceeds from asset recycling are being directed towards larger properties where the company sees opportunities for additional investment and asset management.
Sirius also made changes to its debt structure during the half year. The company repaid a €400 million bond and increased the size of its bonds due in 2028 and 2032 to benchmark levels.
Following these transactions, the group reported available liquidity of more than €250 million.
Management said it remains confident in the company’s ability to deliver double-digit total returns over the longer term, alongside rental growth and a well-covered dividend. These remain management objectives rather than guaranteed future outcomes.
More about Sirius Real Estate
Sirius Real Estate is listed in London and Johannesburg and owns and operates business and industrial parks in Germany and the UK.
The company’s portfolio comprises 145 assets serving more than 10,000 tenants. It provides conventional and flexible workspace through its Sirius and BizSpace brands.
Its strategy includes acquiring properties and seeking to increase their value through asset management, while selectively selling mature assets and reallocating capital to other properties.
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