Sirius reports €70mn valuation gains and buys property in Bochum
The portfolio of business park investor Sirius appreciated by €69.3mn during the first half of the current business year (30 Sept.) and cracked the €1bn mark for the first time. Sirius attributes €56.2mn of the valuation gains to investments in existing properties and incentives for rent increases. Rental income and other income from the real estate portfolio rose by 16.6 % to €40.8mn, profits by 38 % to €70.4mn. Sirius recently finalized the acquisition of a 56,000 sqm business park in Bochum for €24mn. With the sale of a business park on Dötlinger Straße in Bremen (€6.3mn), which was also initiated this month, the firm has now completely withdrawn from the Hanse city.
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