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Ascendas Reit makes debut investment in European data centres for S$904.6 million

Ascendas Reit makes debut investment in European data centres for S$904.6 million

Data CentresFranceIntelligent TechnologyNetherlandsSwitzerlandTop StoriesUnited Kingdom

Ascendas Funds Management, in its capacity as the manager of Ascendas Real Estate Investment Trust, Singapore’s largest listed business space and industrial real estate investment trust, has announced the proposed acquisition of a portfolio of data centres located across Europe for S$904.6 million from subsidiaries of Digital Realty Trust, Inc.

The portfolio comprises 11 data centres located across the United Kingdom (four properties), the Netherlands (three properties), France (three properties) and Switzerland (one property). 

The 11 data centres have a total net lettable area of 61,637 sqm. Six data centres are located on freehold land while the remaining five data centres are sited on leasehold land with a weighted average land lease to expiry of 42.9 years. 

Mr William Tay, Executive Director and Chief Executive Officer of Ascendas Real Estate Investment Trust, said: “This acquisition gives us a unique opportunity to own a portfolio of well-occupied data centres located across key markets in Europe. It complements our existing data centre portfolio in Singapore and will increase the sector’s contribution to S$1.5 billion or 10% of investment properties under management. We see good potential in the data centre business and will continue to source and make further acquisitions when the opportunities arise.”

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