StockMarketWire.com - German property investor Sirius Real Estate said it had acquired a business park in Norderstedt, just north of central Hamburg, for €9.1m.

The deal reflected an EPRA net initial yield of 7.6% and would be funded using existing cash resources of around €127.0m.

Completion of the acquisition was expected in December.

The site, constructed in between 1969 and 1991, provided 12,600 square metres of mixed use net lettable space, of which 68% was warehouse, 29% office and 3% other space.

It had 118 parking spaces and sat on a total plot size of 18,500 square metres.


At 2:37pm: [LON:SRE] Sirius Real Estate LD share price was +1.45p at 75.75p



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