You are here

Mapletree Industrial Trust to divest data centre for S$125m

Mapletree Industrial Trust - 26A Ayer Rajah Crescent data centre (sale) - website.jpg
The data centre was developed by Mapletree Industrial Trust for Equinix, and is fully leased to the latter.

MAPLETREE Industrial Trust (MIT) has agreed to sell a data centre located at 26A Ayer Rajah Crescent, Singapore to Equinix Singapore at a proposed price of S$125 million. Equinix had exercised its purchase option that was within the 2015 lease agreement it had with MIT.

The sale price represents a 23.3 per cent premium over the development cost of S$101.4 million. The property contributed about 2.2 per cent to MIT's portfolio gross revenue in the financial year ended March 31, 2020.

The data centre spans seven storeys and has a total gross floor area of about 384,800 square feet. Its 30-year land lease commenced on May 22, 2013.

The property is a build-to-suit data centre that was developed by MIT for Equinix. It is fully leased to Equinix.

The sale price takes into consideration the latest available valuation of S$125 million as at March 31, 2020 by Savills Valuation and Professional Services.

Your feedback is important to us

Tell us what you think. Email us at btuserfeedback@sph.com.sg

The divestment is expected to take place by the fourth quarter of 2020 and is subject to approval by JTC Corporation.

The counter closed at S$3.11 on Friday, down S$0.05 or 1.58 per cent.

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes