Sirius Real Estate FY 2022 Rent Income, Occupancy Rose

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By Joe Hope

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Sirius Real Estate Ltd. said Monday that rent income and occupancy of its sites grew in fiscal 2022, and that it has collected most of the rent due to it.

The business park operator said that its total annualized rent income for the year ended March 31 has grown to 167.1 million euros ($181.7 million), from EUR97.2 million a year before. The company attributed the growth to effective asset management, acquisitions and strong occupier demand.

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Like-for-like occupancy increased to 87.4%, from 86.6% a year prior, though total occupancy in Germany fell to 84.2% from 86.6% due to acquisitions throughout the year.

The company said it collected more than 98% of the rent due for the year, though it didn’t provide a specific figure.

“Over the past year, our business model has proven its ability not just to be resilient but to grow against an exceptionally challenging market backdrop and, as we emerge fully from the pandemic, we would expect both platforms to continue to perform strongly going forward, ” Chief Executive Andrew Coombs said.

Shares at 0723 GMT were up 1.6 pence, or 1.3% at 123.6 pence.

Write to Joe Hoppe at [email protected]

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Credit: www.marketwatch.com /

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