LONDON (Alliance News) - Sirius Real Estate Ltd Tuesday said annualised rental income as at February 14 was stable at EUR40.9 million, with occupancy across its portfolio at 75%.
The company, which operates business parks, said a new EUR10 million capital expenditure programme has started aimed at unlocking around 100,000 square metres of vacant space over the next three years with a return on investment (ROI) target of 40%.
In additional, Sirius said 106,459 square metres of non-income producing land has been identified as available to sell or develop and it will use the proceeds to fund future acquisitions.
The stock was trading at 0.310 pence Tuesday, up 0.020 pence or 6.9%.
By Anthony Tshibangu; anthonytshibangu@alliancenews.com; @AnthonyAllNews
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Sirius Real Estate (SRE)