Like-for-like average rental rates increased 3.5% to €6.17 per sqm with the total average portfolio rate growing 3.2% to €6.17 (2020: €5.96 and €5.98 per sqm, respectively)
Occupancy up to 87.0% (2020: 85.3%), with like-for-like occupancy increasing to 86.9% (2020: 85.2%), providing further scope to grow income through asset management initiatives
5% increase in enquiries and 13% sales conversion rate in the period, driven by the Company’s specialist sales and marketing platform
Strong cash collection rate of 98.2% for the twelve-month period to 31 March 2021, reflecting Sirius’ tenant diversification and resilience of its portfolio
Awarded AA MSCI ESG Rating in October 2020 (previous A status) in recognition of sustainability focus

5% or €135.7 million increase in like-for-like investment property book value to €1.31 billion (2020: €1.18billion) led by asset management initiatives, €4.8 million rent roll growth and yield compression of 42 bps
Gross yield of the portfolio of 7.2% (2020: 7.6%) with 59% of the portfolio representing value add assets at a gross yield of 7.6% and the remaining 41% representing mature assets at a gross yield of 6.6%
NAV per share increased by 14.2% to 88.31c (2020: 77.35c) with adjusted NAV increasing by 15.0% to 93.79c (2020: 81.54c) and EPRA NTA per share increasing by 14.7% to 92.29c (2020: 80.44c)
Total cash balance of €65.7 million at year end, of which €49.3 million is unrestricted
Net LTV of 31.4% as at 31 March 2021, materially below the stated target of 40%
Sirius did not apply for or receive any state financial assistance in connection with the Covid-19 crisis or otherwise

Five on balance sheet asset acquisitions completed or notarised during the year for €45.9 million, providing a mix of stable income and value add opportunity
€79.9 million acquisition in Augsburg notarised in the period as part of the Titanium venture with AXA IM Alts
One €10.1 million asset disposal completed that was notarised for sale in the prior year

Consistent returns

In this section