Sirius purchases business park in Bochum

Sirius Real Estate has acquired the Bochum business park in the Ruhr Region of Germany. This marks the company’s first purchase in this region, which CEO of Sirius Andrew Coombs says is “one of the major industrial regions of Germany.” The business park was bought for a total consideration of €25.7m. The property was sold to Sirius by the Dubliner Group, a development company in Germany. The Bochum business park has around 56,000 sqm of which 65 percent is warehouse and 29 percent is office space. “With relatively low site density, a flexible multi-tenant structure, the opportunity to replace the exiting major tenant and stabilise the rent roll in an area where take up is robust and rents are growing, this site is an exciting value-add opportunity for Sirius,” Coombs said.