Singaporean firm acquires Dublin data centre for €66m

Singaporean firm acquires Dublin data centre for €66m

Keppel DC REIT, a Singaporean real estate investment firm, has completed the sale of a €66 million colocation data centre in Ireland.

Located in the Ballycoolin business and technology park, the new 2,350sq m facility marks the second investment for the company in Dublin. The site was formerly owned by Dataplex and the transaction was completed on the same day. The deal was funded by debt and increases Keppel’s assets to roughly €1.29 billion. 

The B10 data centre has been designed as an energy-efficient carrier neutral facility and is 87% leased to various global internet enterprises, IT services and telecommunications clients under an 11-year lease. The collective lettable area of Keppel’s assets of 13 data centres is approximately 917,240 sq ft (85,214 square metres).

Chua Hsien Yang, CEO of Keppel DC REIT, said: "This asset is a strategic addition to Keppel DC REIT's portfolio given its strong tenant profile with a long WALE [weighted average lease expiry] that provides income stability. Apart from enhancing its offering in a key data centre hub, the REIT will be able to reap operational synergies from its existing data centre, Keppel DC Dublin 1."

Keppel has also recently acquired infrastructure in Milan, Cardiff and Frankfurt although Dublin is being touted as a hotspot for companies looking to relocate after Brexit, when the UK leaves the European Union. A report by BroadGroup has found that Ireland is a popular spot for data centre investment as evidenced by the increasing number of hyperscale and large-scale data centre players in the market.

Earlier this yearKeppel partnered with PCCW Global to launch the PCCW Global-Keppel International Carrier Exchange in Hong Kong to provide faster interconnects for businesses.

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