Sirius Real Estate sees robust rent roll growth, on track to meet full-year expectations

Sirius Real Estate reported a 15.2% year-on-year increase in rent roll for the six months ended September 30, 2025, driven by both acquisitions and organic growth. On a like-for-like basis, underlying rent roll grew by 5.2% across Germany and the U.K., with both regions exceeding 5% growth. The company remains on track to meet full-year expectations, buoyed by improved economic confidence and strong transactional markets in Germany, which are expected to boost asset values.

In Germany, robust like-for-like rent roll growth exceeded 5%, primarily driven by increased renewal rates. The company anticipates accelerating underlying rent roll growth in the second half of the year. In the U.K., despite a challenging economic backdrop, like-for-like rent roll growth also surpassed 5%, mainly due to rate-driven increases and focused renewals. Valuations in the U.K. portfolio are expected to remain flat due to macro-economic uncertainty.

Sirius has secured nearly €300m in acquisitions across Germany and the U.K. this calendar year, deploying capital from its July 2024 equity raise. The company's balance sheet was further strengthened with a €150m revolving credit facility and a €105m tap of the 2028 bond, providing approximately €400m in free cash reserves as of September 30, 2025. Property valuations are expected to increase at a group level for both the half and full year.