Sirius buys Essen property for €10.7m
German business park investor Sirius Real Estate said it had bought a property in Essen for €10.7m.
The sale and leaseback deal was agreed with engineering firm Thyssenkrupp and reflected an EPRA net initial yield of 6.5%, Sirius said on Tuesday.
The mixed-use business and industrial park offers 14,711 square metres of gross lettable area, of which 45% was warehouse, 42% office and 13% production space, it added.
Currently 80% let to six entities within Thyssenkrupp, the site produces total annualised rental income of approximately €0.83m.