Sirius Real Estate has posted a pre-tax profit boost of 82% to €22.9m (£17.7m) as it announced it is considering launching on the London and Johannesburg stock exchanges.
The results for the year ending 31 March 2016 included a €44.4m uplift from property revaluations and more than €100m of acquisitions.
The operator of business parks, offices and industrial complexes in Germany has also lowered the cost of its debt from 4.3% to 2.2%.
The company said: “Due to the longer-term ambitions of the company and to appeal to a broader base of international investors, the company is considering making applications to move to the main markets of both the LSE and JSE exchanges during the course of the year and will be consulting with its advisers and major shareholders in the coming weeks.”
Sirius chairman Robert Sinclair said a “buoyant German rental market” along with Sirius’ capex investment programme, was fuelling rent roll and valuation growth.
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