CostaFox sells to NextDC for $21.8m

Melbourne developer CostaFox has sold a prime Footscray business park to listed data centre group NextDC in a $21.8 million deal.

The 5.78ha site is located at 25 Indwe St was acquired by CostaFox for $10.3 million in 2016.

The boutique developer run by Michael Fox and Robert Costa had intended to develop a business park on the site but decided to pursue a sale of the site, placing it on the market in late 2019, appointing Lemon Baxter to find a buyer.

NextDC currently have 3 data Centres in Melbourne; M1 Port Melbourne (15MW), M2 Tullamarine (40MW), and M3 Port Melbourne (80MW).