A low-profile property trust’s data centre gambit
Stoneweg Europe Stapled Trust is using its recently formed business trust to gain early exposure to five data development sites
AS THE Singapore market prepares to welcome NTT DC Reit next week, another locally-listed property trust has hatched an intriguing plan to ride the widely expected surge in demand for data centres around the world.
In announcements over the past fortnight, Stoneweg Europe Stapled Trust (Sert) said it has made a 50 million euro (S$75 million) investment in a fund – dubbed AiOnX – that holds a portfolio of five high-specification hyperscale data centre sites, located in Ireland, Denmark, Spain, Italy and the United Kingdom.
These five sites span more than 270 hectares and have secured, reserved or are in the process of applying for more than 2,000 megawatts (MW) of power capacity – which is equivalent to more than 14 per cent of Europe’s current operational data centre capacity.
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