Privately held data centre developer AirTrunk has acquired an additional parcel of land in Lane Cove West as it progresses development of its $1bn DataCentre.
The 2,580sqm site at 2 Apollo Place adjoins Airtrunks existing development at 1 Sirius Ave and currently contains an older style 3 storey office building and car park providing approximately 4,287 sqm of NLA. The site was last sold in April 2017 for $13.5m to a private investor.
AirTrunk submitted a DA in September 2020 for the refurbishment of the building for use as additional office space to support the massive data centre SYD2.
AirTrunk SYD2 is set to open in early 2021, delivering more than 110 MW of IT load over 4ha of land. It will be supported by a dedicated 132kV substation, allowing the most reliable power infrastructure at significantly lower electricity rates for customers.
In April, the Macquarie Asia Infrastructure Fund 2, a fund managed by Macquarie Infrastructure and Real Assets (MIRA), including investment from Canada’s Public Sector Pension Investment Board, acquired an 88 per cent stake in AirTrunk, valuing the business at more than $3 billion.
The group have since embarked on a 300-plus megawatt project in Japan, which will include seven buildings set across more than 13 hectares of land within the data centre hub of Inzia. The addition of the this facility is expected to lift the value of AirTrunk above $5 billion.
Demand for data centres, which was on the rise pre-COVID due to growing internet traffic, has surged as more and more business is being conducted on line.
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