This article is from the Australian Property Journal archive
SINGAPORE-listed Keppel DC REIT is selling a Brisbane Airport data centre to its Australia cloud and connectivity provider partner iseek for $34.5 million.
Located on an elevated lot in Export Park Precinct, the two-storey Tier III data centre is perched away from flood-prone areas and in close proximity to large uninterrupted power supplies.
Keppel DC REIT indirectly holds the property through iseek Facilities Pty Ltd, a wholly-owned subsidiary of KDCR Australia Trust No. 1, which is managed by KDCR Australia No. 1 Pty Ltd.
Following iseek’s exercise of the option to purchase the facility, Keppel DC REIT will offload the facility through the sale of the 100% of the issued securities it holds in both the trust and the trustee to iseek.
A Cushman & Wakefield valuation pegged the market value of the 100% leasehold interest in the property at $34 million as at the end of June.
Last month, ASX-listed NextDC acquired a new data centre site in western Sydney’s Horsley Park for $124 million, while Macquarie Data Centres lodged plans to build a new facility that will be the largest at its campus on the North Shore.
The NSW government recently fast-tracked the approval of a $246 million data centre in Macquarie Park after it lowered the state significant development threshold from $50 million to $30 million in response to a massive surge in demand for data and connectivity capabilities during the pandemic, as employees around the globe moved their work life to the home.
Transaction volumes for data centre assets hit a five-year high in 2020, as the sector competes against ecommerce for increasingly rare industrial land.
