In an ASX announcement, Centuria Industrial REIT (ASX: CIP) has released details of the acquisition of a $39m off-market data centre in Malaga West Australia.
The data centre is located at 16 Mulgul Road, Malaga WA, 15 km north of Perth’s CBD and less than a kilometre from the Malaga zone substation.. The 5MW, 6,561 m2 data centre is 100% leased to Japanese multinational information and communications service provider, Fujitsu.
This strategic acquisition expands CIP’s data centre portfolio to $456m and increases CIP’s data centre sub-portfolio to two assets collectively worth $456million, representing around 12% of CIP’s total portfolio.
Grant Nichols CIP Fund Manager, said, “This rare, off-market opportunity to secure a modern data centre allows CIP to benefit from increased occupier demand as global data consumption is expected to continue its significant growth trajectory. Demand for AI and cloud-based solutions are driving data centre growth as both businesses and consumers continue their rapid adoption of these technologies. In addition, Perth is also becoming increasingly relevant as a data centre market due to its connectivity to Asia via the Australia-Singapore Cable (ASC) submarine cable system.”
