Macquarie Data Centres buys land, buildings in $174M deal

Macquarie Data Centres has brought the land and buildings associated with its Macquarie Park data centre campus to the tune of $174 million.

The agreement, which is with Keppel DC REIT, is expected to settle within the second half of FY24.

It is partially funded from a $90 million loan note that will be issued to Keppel, which has an initial interest rate of 6.97 per cent, for an eight-year and six-month term, and is unsecured.

David Tudehope, CEO of parent company Macquarie Technology Group, said in a statement to the Australian Securities Exchange (ASX) the acquisition gives the business long-term control of the campus as it sets out to build its IC3 SuperWest data centre.

“Purchasing the land and buildings also delivers on the expectations of our customer base which values our Australian ownership, data security and our sovereign credentials,” he said.

David Hirst, group executive of Macquarie Data Centres, added that the acquisition “is the start of Macquarie Data Centres’ multi-campus acquisition plans”.

“Combined with our Australian ownership and sovereign credentials provides future-proofed capacity for our customers now and into the future,” he added.