Sirius Real Estate Limited brings in new independent non-executive director


Joanne Kenrick, who currently serves as a non-executive director at Safestore, Welsh Water and Coventry Building Society, has been appointed to the company with effect from September 1

Sirius Real Estate Limited () said it is assessing whether to issue senior unsecured bonds to refinance secured debt and to fund potential asset acquisitions.

The Germany-focused industrial parks owner said the assessment was potentially part of a broader strategy to move to a funding structure more balanced between secured and unsecured debt.

READ: Sirius Real Estate on hunt for more acquisitions as Germany emerges from pandemic

Sirius recently obtained a BBB rating from Fitch with a stable outlook.

Sirius chief financial officeer, Alistair Marks, said: “A move towards more unsecured debt funding would have many benefits for Sirius including increasing operational flexibility through the creation of a much larger pool of unencumbered assets as well as enhancing our funding efficiency going forward.”

Earlier on Wednesday, Sirus said it has appointed Joanne Kenrick to the board as an independent non-executive director with effect from September 1.

The company said Kenrick has over 30 years’ experience in commercial marketing, with former roles including marketing and customer proposition director for B&Q and marketing director at Camelot Group. She also served as a non-executive director of Principality Building Society for six years and as marketing and digital director at Homebase for five years.

READ: Sirius Real Estate on hunt for more acquisitions as Germany emerges from pandemic

Kenrick currently serves as a non-executive director for PLC () as well as for Welsh Water and Coventry Building Society.

“Jo brings a wealth of relevant experience not only from an impressive customer-focused brand marketing career, but also from her time as a respected board member across a range of listed, private and charitable organisations. She has been deeply involved in the development of Environmental, Social, and Governance (ESG) strategies amongst other key initiatives, and with this combination of commercial, remuneration and ESG insight, we are confident that Jo will be a valuable addition to our Board”, Sirius chairman Daniel Kitchen said in a statement.



Read MoreSirius Real Estate Limited brings in new independent non-executive director

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