Sirius buys business park near Freiburg for €6.5mn

03/06/2019

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.


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