Sirius Real Estate reports jump in annual rents

(Sharecast News) - Real estate group Sirius said it achieved a near-fifth increase in rent roll over the 12 months to 31 March, with a strong leasing performance in Germany offset by slower conditions in the UK as a result of Budget uncertainty towards the end of 2025. The company, which operates in the branded business and industrial parks sectors across Germany and the UK, reported an 18.4% increase in rent rolls, helped by asset acquisitions and strong demand for space at business parks.

On a like-for-like basis, annual rent roll increased by 6.4%, with growth accelerating in the second half after a 5.2% improvement in the first.

The company said full-year results will be in line with market expectations.

In Germany, the leasing performance finished the year strongly, with move-outs in the first half more than offset by pricing gains on renewals and heightened occupier activity, particularly in the final quarter.

However, in the UK, "prolonged political uncertainty" driven by the Autumn Statement at the end of November led to slower occupational market and deferred decision making in the final three months of 2025. However, momentum returned over the first three months of 2026, with "occupier sales metrics suggesting some catch up and mitigation of the third quarter's weakness", Sirius said.

"Over the past year, our focus on growth and asset management, as well as the quality and occupier appeal of our properties, has enabled us once again to deliver a strong performance on behalf of our shareholders, despite the volatile market backdrop," said chief executive Andrew Coombs.

"This has translated into our twelfth year of like-for-like rental growth of above 5%, as well as improving occupancy and expected overall valuations."

The stock was down 0.7% at 98.85p by 1028 BST.

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