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16 Mar 2021 | 08:51

Sirius buys Essen property for €10.7m

(Sharecast News) - German business park investor Sirius Real Estate said it had bought a property in Essen for €10.7m. The sale and leaseback deal was agreed with engineering firm Thyssenkrupp and reflected an EPRA net initial yield of 6.5%, Sirius said on Tuesday.

The mixed-use business and industrial park offers 14,711 square metres of gross lettable area, of which 45% was warehouse, 42% office and 13% production space, it added.

Currently 80% let to six entities within Thyssenkrupp, the site produces total annualised rental income of approximately €0.83m.

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