Airtrunk secure expansion land at Huntingwood

5 April 2020

Singapore based data centre operator, Air Trunk, have secured an additional 10,260sqm site next to their existing Huntingwood facility for further expansion capacity.


Airtrunk paid $15.0m for the site at 24 Healey Circuit ($1,461/sqm).


The site comprises an existing warehouse facility with ground floor office accommodation together with functional high clearance sprinklered warehouse space and loading docks.


The premises are temporarily leased to Marinucci Packaging. It is unclear how AirTrunk intend may use the existing facilities.


In November 2019, AirTrunk also settled on its Lane Cove West site, paying $51.5m for a 4ha at 1 Sirius Rd.


Initially backed by Goldman Sachs and TPG Sixth Street Partners, the group has raised over $1 billion since 2017 to build its data centres in Sydney, Melbourne, Singapore and Hong Kong.


In January this year, Macquarie Infrastructure and Real Assets acquired a majority stake in AirTrunk in a deal valuing the company at around A$3 billion.


Infrastructure investors have been flocking toward data centers and other telecommunications assets such as towers and fiber that promise stable, growing earnings from a digital world.


The AFR revealed this week that Singtel is proposing a $2 billion-plus portfolio sale of telecommunications towers owned by Optus. The group is believed to have mandated Bank of America to sell the portfolio.


Local operators are also scaling up operations with NextDC continuing its expansion following its takeover battle with 360 Capital Group over the listed Australia Pacific Data Centres. Meanwhile, 360 Capital are now forging ahead with its own listed Digital Infrastructure Fund (ASX: TDI) business.


Equinix, the largest data centre provider in Australia with 8 data centres invested $224m on its latest Centre in Alexandria and recently acquired a new site in Rosehill for $43.5M for its next facility.