Macquarie Technology shares rocket on new data centre plan
Make us a preferred source
Make us a preferred source on Google
More news: Macquarie Technology Group was the best performing ASX 200 company in morning trade after its subsidiary Macquarie Data Centres entered a put and call option to purchase land in Sydney for a new data centre campus.
Shares were up 6.7% to $66.01 at 11:15am AEST, having dropped more than 25% since the turn of the year.
Macquarie enters $240m option agreement for Sydney data centre campus
The news: Macquarie Data Centres Group has entered a put and call option to purchase land in Sydney for a new data centre campus with an undisclosed property investment and development company.
The context: Following subdivision of the land, which could take a few months, and exercise of the option the land purchase price will be $240 million.
This is intended to be funded from the group’s existing cash reserves and the Group’s corporate debt facility.
Macquarie Data Centres intends to construct a new data centre campus in stages that has a power capacity of 150MW, subject to development and further board approvals.
The site is within an existing “availability zone” – a local grouping of data centres – and is close to a major electricity substation.
Building of new data centres at this campus is expected to be in a few years, with the company to consider “a range of funding alternatives including project finance and new longer term infrastructure investors in our data centres”, according to a statement to the exchange from Macquarie Technology Group.
In addition to existing development on the IC3 SuperWest data centre, which remains on time and on budget for completion of phase one construction in September 2026, the company says it is well-positioned to “provide a continuous pipeline of available capacity for its customers over the next 7-10 years”.
The source: ASX
