Sirius buys 2 German business parks for €33.4m

Business park operator Sirius Real Estate said it had bought two properties in Germany for a combined total of €33.4m (£28.5m), reflecting an aggregate net initial yield of 6.8%.

The two parks are near Düsseldorf and in the Brandenburg region, Sirius said on Monday.

The Düsseldorf Neuss II property was bought from a regional family real estate office for €19.1m reflecting an net initial yield of 5.4%, while the Neuruppin Business Park, 75 km north west of Berlin, was acquired from Otto Immobilien GmbH & Cofor €14.3m for an net initial yield of 8.6%.