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Rental growth is accelerating, says Sirius

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South Africa Headlines News

Like-for-like growth in rental income for the year to end-March was better than the 6.2% growth rate in the previous year

German business park owner Sirius Real Estate, which is listed in Johannesburg and London, said on Monday its rental income growth from existing assets had accelerated in the year to end-March.

Like-for-like growth in rental income was expected to be better than the 6.2% growth rate in the previous year. Sirius said its strategy to sell noncore assets “has progressed well”, while its joint venture with AXA would allow it “to consider much larger assets and portfolios of assets” than it could previously.

In late March, Sirius notarised the acquisitions of two business parks in the metropolitan regions of Freiburg and Hamburg.

 

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