StockMarketWire.com - German business park investor Sirius Real Estate said it had collected 97.2% of rent for the six months through September and was trading in line with market expectations for the full year.

Of the total outstanding debt, €83,000 related to insolvency cases whilst €250,000 related to 11 deferred payment plans.

In a trading update, the company also said that enquiries had risen 17% year-on-year, with a sales conversion rate of 13.4%.

Total annualised rent roll had risen to €89.2 million, up from €78.5 million year-on-year, but down from €90.3 million at the end of March following an asset sale.

Conference revenues had risen around 54% since the business was re-opened in July.

'To deliver these strong preliminary first-half figures in the face of the pandemic that we continue to contend with, is clear demonstration of the resilience of our business model and the tenacity of the Sirius team,' chief executive Andrew Coombs said.

' Our portfolio provides a diverse mix of accommodation which attracts a wide range of both global blue chip and SME businesses as well as individuals, and ranges across many different workspace segments, including commercial and self-storage, out-of-town conventional and flexible offices, as well as light industrial, urban logistics and manufacturing assets.

"Furthermore, the portfolio is well diversified by both geography and tenant activity.'

'We have a strong balance sheet providing significant firepower which we will be deploying on our pipeline of acquisitions and investing in the existing portfolio to attract new tenants and grow rents.'




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