Sirius Real Estate, the leading owner and operator of branded business and industrial parks in Germany and the UK, has notarised the acquisition of a multi-tenant business park in Hamburg-Rothenburgsort for €31.9m, including acquisition costs.
The 29,448 m² site sits within northern Germany's largest continuous industrial area, offering strategic proximity to Hamburg's port infrastructure, a critical advantage as European logistics networks continue to consolidate around key maritime hubs. Currently 89% occupied and generating €2.15m in annualised rent roll, the recently renovated park presents immediate income alongside multiple value-creation pathways through vacancy optimisation and potential new build opportunities with an existing anchor tenant.
The acquisition delivers an EPRA Net Initial Yield of 6.1% whilst providing operational synergies with Sirius' existing Hamburg portfolio, with the nearest asset located 30 minutes away. The park's tenant mix spans multiple sectors, with two primary occupiers contributing over 20% of rental income and benefiting from a combined weighted average lease expiry of 3.1 years. Notably, several smaller tenants operate on shorter lease terms, presenting near-term opportunities for rental uplifts as contracts come up for renewal. This factor could significantly accelerate income growth beyond the initial yield.
"The acquisition of our fifth Hamburg business park will generate day one income and offers further significant potential to improve rental tone, grow occupancy and grow revenue through onsite development," said Andrew Coombs, Chief Executive Officer of Sirius Real Estate. "Following our acquisition of a business park in nearby Lübeck earlier this year, the asset is another exciting addition to our portfolio in the Hamburg region and wider Northern German area."
The transaction marks another milestone in Sirius' aggressive 2025 acquisition strategy, with the company deploying over €340m across UK and German assets throughout the calendar year. With Germany's robust economic fundamentals and supportive macroeconomic tailwinds, Coombs indicated that the company's primary focus heading into 2026 will centre on German opportunities, where a strong pipeline of potential acquisitions is currently under evaluation.
As of 30 September 2025, Sirius' portfolio comprised 153 assets let to 10,958 tenants with a total book value of €2.8bn, generating €242.5m in annual rent roll. The company also maintains a 35% stake in Titanium, its €350m+ German-focused joint venture with clients of AXA IM Alts.
People mentioned:
- Andrew Coombs, Chief Executive Officer, Sirius Real Estate
Companies mentioned:
- Sirius Real Estate, Property company and business park operator
- AXA IM Alts, Investment management partner
- BizSpace, Sirius Real Estate brand
- Titanium, German-focused joint venture
