07-08-2018, 12:34 PM
Keppel DC REIT to expand Australian footprint in Sydney
Keppel DC REIT, will be expanding its data centre footprint in Australia with a new shell and core data centre, which will be built on the vacant land within the Macquarie Business Park precinct in Sydney. The development will be undertaken by Macquarie Telecom, the master lessee of the existing shell and core data centre, Intellicentre 2 Data Centre (“IC2 DC”). Macquarie Telecom will also be the master lessee of the new shell and core data centre when completed.
The expansion to the Macquarie Telecom data centre campus will be named Intellicentre 3 East Data Centre (“IC3 East DC”) and will feature a minimum of 86,000 sq ft of lettable area upon its completion, which is expected to be between 2019 and 2020. The costs payable by Keppel DC REIT will be based on the actual total costs of construction works, within a range of A$26.0 million to A$36.0 million, to be payable to Macquarie Telecom only on completion.
This addition to Keppel DC REIT’s portfolio is expected to be DPU-accretive. Upon the completion of the development, a new 20-year triple-net master lease with Macquarie Telecom incorporating both IC2 DC and IC3 East DC shell and core buildings will commence. The lease will include builtin annual rental escalations with renewal options.
More details in http://infopub.sgx.com/FileOpen/Media%20...eID=520320
Keppel DC REIT, will be expanding its data centre footprint in Australia with a new shell and core data centre, which will be built on the vacant land within the Macquarie Business Park precinct in Sydney. The development will be undertaken by Macquarie Telecom, the master lessee of the existing shell and core data centre, Intellicentre 2 Data Centre (“IC2 DC”). Macquarie Telecom will also be the master lessee of the new shell and core data centre when completed.
The expansion to the Macquarie Telecom data centre campus will be named Intellicentre 3 East Data Centre (“IC3 East DC”) and will feature a minimum of 86,000 sq ft of lettable area upon its completion, which is expected to be between 2019 and 2020. The costs payable by Keppel DC REIT will be based on the actual total costs of construction works, within a range of A$26.0 million to A$36.0 million, to be payable to Macquarie Telecom only on completion.
This addition to Keppel DC REIT’s portfolio is expected to be DPU-accretive. Upon the completion of the development, a new 20-year triple-net master lease with Macquarie Telecom incorporating both IC2 DC and IC3 East DC shell and core buildings will commence. The lease will include builtin annual rental escalations with renewal options.
More details in http://infopub.sgx.com/FileOpen/Media%20...eID=520320
Specuvestor: Asset - Business - Structure.