Sirius Real Estate posts profit jump as rental rates increase despite Covid

first_img The FTSE 250 firm invests in German business parks. (Credit: @SiriusRE) Damian Shepherd The FTSE 250 property firm, which invests in German business parks, said its like-for-like rental rates rose 3.5 per cent to €6.17 per sqm. Sirius Real Estate posts profit jump as rental rates increase despite Covid Sirius put its success down to a diverse portfolio of £1.3bn, which it described as “the engine room of the German economy”. Share Also Read: Reckitt to see £2.5bn loss from sale of baby formula business Also Read: Extended lockdown weighs on IWG but strong recovery predicted It raised its total shareholder accounting return to 19.5 per cent compared to 13.1 per cent in 2020. Sirius Real Estate has seen its annual pre-tax profit soar by 47 per cent to €163.7m as rental rates increased despite Covid restrictions. “We have ended the year with a strong balance sheet which will allow us to take advantage of acquisition opportunities as they arise and continue to grow income and capital values through selective investment.” Monday 7 June 2021 7:54 am whatsapp “Despite the continued degree of market uncertainty as a result of the pandemic, more confidence is breathed into the market every day as the vaccine is rolled out successfully in Germany and across Europe,” said Andrew Coombs, CEO of Sirius. whatsapp Show Comments ▼last_img

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