SIRIUS REAL ESTATE LIMITED

(Incorporated in Guernsey)

Company Number: 46442

JSE Share Code: SRE

LSE (GBP) Share Code: SRE

LEI: 213800NURUF5W8QSK566

ISIN Code: ISIN GG00B1W3VF54

8 February 2022

Sirius Real Estate Limited

("Sirius Real Estate", "Sirius" or the "Company")

Property Tour

Sirius Real Estate, the leading owner and operator of branded business and industrial parks providing conventional space and flexible workspace in Germany and the UK, is hosting a property tour of BizSpace assets in Manchester for analysts and investors today and on Thursday 10 February.

BizSpace, which was acquired by Sirius in November 2021, is a leading and established provider of regional flexible workspace, offering light industrial, workshop, studio and out of town office units to a wide range of businesses across the UK. The acquisition has provided Sirius with a well located portfolio of mixed-use business parks offering significant income growth potential in a UK market characterised by supply constraints. The BizSpace business is also highly complementary to Sirius' existing platform, allowing for meaningful operational and financial synergies to drive value creation for Sirius shareholders.

As part of the tours a presentation will be given which provides a short summary of selected key performance indicators for BizSpace relating to the period between August and December 2021. Within this period, BizSpace's annualised rent roll increased by 6.7%, predominantly due to growth in average rental rates. This increase in annualised rent roll is expected to have a modest impact on BizSpace's contribution to the Group's results in the financial year to 31 March 2022 and a more pronounced effect on BizSpace's contribution to the Group's results in the financial year to 31 March 2023.

No other new material information will be disclosed during the tours.

A copy of the presentation will be available on the Sirius Real Estate website from 9am GMT/
11am SAST today at https://www.sirius-real-estate.com/investors/results-presentations-notices/

- ENDS -

For further information:

Sirius Real Estate

Andrew Coombs, CEO

+49 (0) 30 285010110 

FTI Consulting (Financial PR)

Richard Sunderland / Claire Turvey / James McEwan / Talia Jessener

+44 (0) 20 3727 1000

SiriusRealEstate@fticonsulting.com 

NOTES TO EDITORS

About Sirius Real Estate

Sirius is a property company listed on the main market and premium segment of the London Stock Exchange and the main board of the JSE Limited.  It is a leading operator of branded business parks providing conventional space and flexible workspace in Germany and the UK. The Company's purpose is to create and manage optimal workspaces that empower small and medium-sized businesses to grow, evolve and thrive. Sirius seeks to unlock the potential of its people, its properties, and the communities in which it operates, so that together we can create sustainable impact, and long-term financial and social value.

The Company's core strategy is the acquisition of business parks at attractive yields, the integration of these business parks into its network of sites under the Company's own name as well as offering a range of branded products within those sites, and the reconfiguration and upgrade of existing and vacant space to appeal to the local market, through intensive asset management and investment. The Company's strategy aims to deliver attractive returns for shareholders by increasing rental income and improving cost recoveries and capital values, as well as by enhancing those returns through financing its assets on favourable terms. Once sites are mature and net income and values have been optimised, the Company may take the opportunity to refinance the sites to release capital for investment in new sites or consider the disposal of sites in order to recycle equity into assets which present greater opportunity for the asset management skills of the Company's team.

Sirius also has a venture with clients represented by AXA IM Alts. Titanium was originally formed in 2019 through the acquisition by AXA IM Alts, on behalf of its clients, from Sirius, of a 65% stake in five business parks across Germany. Sirius retained the remaining 35%. The venture has added significantly to its portfolio and continues to seek to grow primarily through the acquisition of larger stabilised business park assets and portfolios of assets with strong tenant profiles and occupancy. As well as its equity interest, Sirius acts as operator of the assets in the venture, on a fee basis. The strategy of the venture has been clearly defined so that the venture does not conflict with Sirius's existing business, which continues to focus on the acquisition of more opportunistic assets for its wholly owned portfolio, where it can capitalise on its asset management expertise to maximise utilisation of the space, grow occupancy and improve quality of the tenants.

In November 2021, Sirius Real Estate announced and completed the acquisition of BizSpace, a leading provider of regional flexible workspace in the UK. BizSpace offers light industrial, workshop, studio and out of town office units to a wide range of businesses across the UK and the acquisition therefore provided Sirius with a unique opportunity to enter, immediately and with scale, an under-served new market for Sirius through a one-step acquisition of an established platform. It provides the Group with a high-quality portfolio, offering significant organic growth potential in rental pricing in a UK market characterised by supply constraints. The BizSpace business is also highly complementary to Sirius' existing platform, allowing for meaningful operational and financial synergies to drive value creation for Sirius shareholders.

For more information, please visit: www.sirius-real-estate.com/

Follow us on LinkedIn at https://www.linkedin.com/company/siriusrealestate/

Follow us on Twitter at @SiriusRE

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