Sirius Real Estate Limited Capital Markets Day (1775Z)

TIDMSRE

RNS Number : 1775Z

Sirius Real Estate Limited

16 May 2019

Sirius Real Estate Limited

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

Capital Markets Day

Sirius Real Estate, the leading operator of branded business parks providing conventional space and flexible workspace in Germany, will today be hosting a Capital Markets Day for investors and analysts in London.

A copy of the presentation will be published on the Company's website (https://www.sirius-real-estate.com/), today. No new material information will be provided.

For further information:

Sirius Real Estate

Andrew Coombs, CEO/Alistair Marks, CFO

+49 (0)30 285010110

Tavistock (Financial PR)

Jeremy Carey/James Verstringhe

+44 (0)20 7920 3150

siriusrealestate@tavistock.co.uk

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 Johannesburg Stock Exchange. It is a leading operator of branded business parks providing conventional space and flexible workspace in Germany. 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.

On 1 March 2019, Sirius announced that, in a transaction due to complete in June 2019, it had formed a real estate investment joint venture with clients represented by AXA Investment Managers - Real Assets in which AXA acting on behalf of its clients, will own a 65% interest and Sirius will own the balance of 35%. The JV is being formed initially by AXA acquiring, on behalf of its clients, from Sirius a 65% stake in five business parks, two located in Berlin (Berlin Borsig and Berlin Tempelhof) and one in each of Mainz, Nurnberg and Bayreuth. The business parks provide a combination of office, warehouse, industrial and storage space. The implied property value of EUR168 million equates to a gross yield for the portfolio of 6.2% and reflects a 19% premium to the last reported book value as at 30 September 2018 (EUR141.1 million). The transaction is expected to generate total cash proceeds of more than EUR70 million for Sirius after refinancing and related costs.

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

LEI: 213800NURUF5W8QSK566

JSE Sponsor: PSG Capital

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