Keppel DC Reit buys data centre in Wales for £34 million

Singapore

KEPPEL DC Reit has bought the "shell and core building" of a data centre in the United Kingdom for £34 million (about S$59.7 million) in a bid to ride on growing demand for data centre services in the country, its manager said in a Singapore Exchange filing on Thursday evening.

The data centre in Cardiff, Wales, has been fully leased to "one of the largest global cloud service providers" and the 15-year lease started in June 2016, the Reit manager said. It did not name this company and said the lease has annual rent escalations.