Sirius Real Estate, a Guernsey-based business parks, offices and industrial complexes owner and operator, has bought a business park in Bochum in the Ruhr region for a total consideration of 25.7 million euros ($29.1 million).
Sirius bought the property from a fund managed by DOBA-Grund Beteiligungs, part of Doblinger Group.
The business park comprises of around 56,000 square meters of mixed-use lettable space of which 65 percent is warehouse, 29 percent is office and 6 percent is other space.
The development will initially generate $2.9 million of gross rental income, with 95 percent occupancy, let to 31 tenants.