The chief executive of Sirius Real Estate said the company’s “overriding priority” is to make even more acquisitions before the start of the next property cycle.
The company made €270m (£227.5m)-worth of acquisitions in the year to 31 March, most of which were in the UK.
In a results statement for the year, chief executive Andrew Coombs (pictured) said: “Looking ahead we will continue to focus on extracting the latent value within our existing portfolio, although our overriding priority for the year ahead is ensuring we fully capitalise on the remaining window of opportunity to make acquisitions before the next cycle begins in earnest, given we may well either be at or near, and in some areas past, the bottom of the current cycle.”
Coombs added that Sirius expects to benefit from planned increases in defence spending in the UK and Germany. “We believe that even if only a small part of this flows into our asset classes, defence has the potential to become a major growth sector and driver of demand for warehouse and manufacturing space, where the rent is ultimately government derived,” he said. “We are actively positioning our offering to attract some of this expected business.”
Photo © Sirius Real Estate
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