Sirius Real Estate sells two non-core UK assets, acquires three self‑storage sites

(Sharecast News) - Industrial parks owner and operator Sirius Real Estate said on Thursday that it has exchanged contracts to sell two non‑core UK assets and acquire three new self‑storage development sites. Sirius will dispose of two sub‑scale multi‑use business parks in the Sheffield area for a combined £5.3m, a 3% premium to book value, stating both sites were well occupied but offered limited scope for further income or valuation growth.

The FTSE 250-listed firm has also agreed to acquire three digitally automated self‑storage opportunities in Leicestershire, Bedfordshire and Merton, all subject to planning. The sites will cost around £12.6m, funded through the Sheffield disposals and a further £7.3m of non‑core UK asset sales expected later this year.

Sirius said all three locations benefit from strong local fundamentals and undersupplied markets. The Leicestershire and Bedfordshire sites were expected to open in spring 2027, with Merton scheduled for completion in 2028. Each project was expected to deliver a double‑digit internal rate of return above Sirius's cost of capital.

As of 0940 BST, Sirius shares were up 0.53% at 99.98p.





Reporting by Iain Gilbert at Sharecast.com

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