Sirius Real Estate achieved an 8.1% increase in rent roll for the financial year ending 31 March 2023.
The group, which provides conventional space and flexible workspace in Germany and the UK, said despite the “more challenging economic backdrop” during the year cash collection had “remained robust” at more than 98.5% on a rolling 12-month basis. It added that it expects to deliver full-year results in line with market expectations.
In the UK Sirius said that it had “successfully firmed rates” to position its BizSpace assets for “better returns in the long term” with rent roll growth in the UK in line with the group level. It added that rental rates had also increased “well in excess of inflation” in its UK business.
Andrew Coombs, chief executive officer of Sirius Real Estate, said: “Against a challenging market backdrop during the year, Sirius has delivered another period of strong operational performance. The group expects to deliver results for the financial year ended 31 March 2023 in line with market expectations, and I look forward to the announcement of our fully audited results on Monday June 5th.”
