The new asset comprises an existing data centre and excess land, “totalling a development potential of up to 78MW of IT load”, said ESR. The potential GAV of $2.15 billion depends on the ratio of operating model between powered shell and fully-fitted configurations for each building.
The Hong Kong logistics and real estate company says it will use the land to build two additional buildings with a combined IT load of 39MW. Construction of the first data centre is expected to commence “later in 2021”, with a target completion scheduled in 2023, ESR added.
The existing data centre will be redeveloped into an additional 39MW IT load upon expiry of the current lease to an unnamed tenant.
Jeffrey Shen and Stuart Gibson, ESR co-founders and co-CEOs, said: “As a leading provider of new economy infrastructure it’s a natural move for ESR to expand into the evolving ecosystem of data centres.
“We are creating a campus-style asset with expansion capability in a prime location of a high growth market.”
ESR says it now owns land and power approvals to “potentially develop” over 200MW of data centre space “across major markets in APAC”.
ESR added: “ESR has a proven track record of consistently developing best-in-class assets and delivering top-notch project management for our logistics tenants, many of whom are e-commerce giants who also provide cloud services.
“Our operational expertise enables us to provide one-stop solutions to cloud service providers and operators across all major economies in APAC.”
