Keppel DC REIT snaps up Sydney data centre for $45.3m

This is its maiden acquisition.

Keppel DC REIT today revealed that it will acquire a data centre in Sydney for a total consideration of $45.3m (AUD 43.3m). This is its first acquisition since its IPO in December.

Keppel DC REIT will acquire the shell and core building of Intellicentre 2 (IC2) from ASX-listed Macquarie Telecom (MT).

Completed in 2012, this data centre has a total lettable area of 8,169 sm and sits on approximately 20,000 sm of freehold land.

MT will sign a 20-year triple-net lease agreement with Keppel DC REIT, which includes a mechanism for annual rental escalation and options to extend the lease. MT will also manage the facility and be responsible for all property-related outgoings.

IC2 is a Tier III carrier-neutral data centre located within the Macquarie Business Park, a research and business park in Sydney that specialises in the communications and information technology sectors.