Sirius seeks £145m to go on shopping spree

Sirius is planning a £145m capital raise to buy assets in the UK and Germany. The business and industrial park owner has identified a pipeline of “attractive acquisition opportunities”, including four assets in Germany, at a cost of €85m, and four in the UK for £45m. The vendors of the assets are a mix of private individuals and institutional owners, and there is an average investment size of approximately £15m, although deal sizes range from £4.2m to £23.4m. In its half-year results, published this morning, the REIT said revenue for H1 had increased by 7.3% to €140.1m, with the rent roll rising 7.7%, and 9% in the UK. However, pretax profit almost halved, from €75.7m to €39.8m. To send feedback, e-mail piers.wehner@eg.co.uk or tweet @PiersWehner or @EGPropertyNews