Sirius Real Estate, the dual-listed owner and operator of branded business and industrial parks in Germany and the UK, has completed two significant transactions in its core German market, totalling €43m. The deals include the €12.67m acquisition of a multi-let business park in Lübeck and the €30m disposal of a mature asset in Pfungstadt, delivering a 9% premium to book value.
The 14,810 m² Lübeck asset sits on a 21,650 m² plot and is 88% let, with Sirius already securing a new lease that will push occupancy above 95% and increase annual rental income to €1.13m. Strategically located in one of Germany’s most active Baltic ports and directly connected to the A1 autobahn, the park benefits from a diverse tenant mix led by medical diagnostics, industrial manufacturing, and food processing firms, which together contribute 72.1% of rental income.
Lübeck’s attractiveness is expected to rise further with the €7.5bn Fehmarnbelt infrastructure project. Once completed in 2029, the 17.6 km undersea tunnel will link Lübeck to Copenhagen within an hour’s drive and enhance its position as a logistics and industrial gateway to Scandinavia and Northern Europe. For developers and occupiers, this transformative connectivity offers untapped potential in a supply-constrained market.
The disposal of the 33,452 m² Pfungstadt business park, located near Frankfurt, fits Sirius’s value-realisation strategy. Acquired for €14.5m in 2008, the asset was sold to another real estate operator for €30m, providing capital for reinvestment into higher-yielding opportunities. The transaction reflects growing investor interest in income-producing logistics and light industrial space within commuter belts of major cities.
“These two transactions further progress our strategy of crystallising value from the sale of mature assets such as Pfungstadt and recycling capital into acquisitions where we have identified an opportunity to add value through our platform,” said Andrew Coombs, CEO of Sirius Real Estate. “Lübeck is a city... expected to bolster the local economy and drive demand for commercial space.”
Sirius will announce its full-year results on 2 June 2025. With €2.4bn of assets under management and a strategy centred on active asset management and selective capital recycling, the company remains one of Europe’s most consistent performers in the business park sector.
People mentioned:
Andrew Coombs, CEO, Sirius Real Estate
Chris Bowman, CFO, Sirius Real Estate
Companies mentioned:
Sirius Real Estate – Owner and operator of business parks in Germany and the UK
FTI Consulting – Financial PR advisor
Swiss Life – Buyer of Sirius’s office asset (mentioned in prior release)
AXA IM Alts – Partner in Sirius’s Titanium JV
Get the latest real estate news and investment insights from Europe Real Estate - your trusted source since 1999. To receive daily or weekly updates. Sign up here!
