Sirius Real Estate has appointed retired major general Angus Fay as a strategic adviser to capitalise on the projected increase in demand for defence-related real estate.
In the wake of the UK’s recent strategic defence review and the German government’s plans to release an anticipated €900bn for infrastructure and defence spending, it is anticipated defence spending across Europe will rise significantly over the coming years.
Sirius estimates that up to 20% of its portfolio is suitable for defence-related purposes, with much of its estate having been used by the military in the past.
Fay spent 37 years in the British army, specialising in military logistics, and latterly served as director general of global defence logistics operations at the Ministry of Defence. He also represented the UK on NATO’s logistics committee.
Andrew Coombs, chief executive officer of Sirius Real Estate, said: “Angus Fay is a leading military logistics expert and his appointment as strategic adviser demonstrates Sirius’ intent to create options within its portfolio to capitalise on increased demand from the defence industry in the UK and Germany. Increased defence spending will lead to growing requirements among defence-related real estate occupiers. With Angus’s advice we can enhance our aim of creating optionality for these uses across our portfolio, while assisting governments with their defence goals.”
Fay, who is currently managing director of Squarcle Consulting, added: “Sirius Real Estate’s portfolio is well-positioned to support resilience and defence related readiness objectives, and I will be adding my own advice to the company’s undoubted expertise in this arena.
“As NATO and allied governments call for deeper industry integration and with increased military spending in Germany and the UK, Sirius is well placed to support businesses as they seek to meet the requirements of rapid mobilisation, flexible use of space and highly secure resilient infrastructure. There will be a need to store and disperse equipment across Europe and industrial property like that within Sirius’ portfolio is the best home for this.”
