Sirius buys business park near Freiburg for €6.5mn
Sirius Real Estate is spending €6.5mn on the technology park Teningen near Freiburg. The initial net yield is quoted at 8.3 %. The seller of the property on Tscheulinstraße is the Swiss technology group Ascom. The technology park located on a 43,000 sqm lot has 20,000 sqm lettable space including storage, production, laboratory, and office space. The deal was brokered by E&G Real Estate. According to Sirius, the space is 88 % leased and earns annual rental income of €542,000. The average remaining lease term (WALT) is 1.6 years. There is a possibility of adding another 2,000 sqm.
Subscribers to our premium service have access to this article in full as well as to an additional 510,000+ news items: all filterable by topic, company, asset class, city or keyword. In TD Premium you can search for investment deals, leases, current project developments and company news with pinpoint accuracy.
TD Premium is Germany’s leading property information tool that interconnects news, transactions, project data, market and company information in a unique and flexible system.