A Telstra data center has been sold in Sydney, Australia.
Sydney-based Tricon Group has acquired the facility, 184-200 Broadway in Chippendale from the Australian telco for AU$67.6 million (US$45m). Triton has also acquired the neighboring Lansdowne Hotel, which includes a pub and music venue.
Telstra sold the six-story telecoms exchange and data center facility in a five-year sale-leaseback deal on a triple net basis.
The facility spans 8,850 sqm (95,260 sq ft) on a 1,770 sqm (19,050 sq ft) plot. The site was put up for sale early last year.
CBRE, which handled the deal, said the site has B4 Mixed Use zoning and potential for build-to-rent and other residential uses.
“The building neighbors the $3 billion Silicon Valley-style Tech Central hub earmarked for the Central Station precinct and is situated in a major university catchment which is positioned to benefit from a resurgence in international students and migration,” CBRE associate director Harry George said at the time. “This, coupled with the asset’s secure holding income, will underpin interest from value-add groups and developers, allowing an incoming owner to ride out any future market volatility.”
Another Telstra data center and exchange site in Sydney is set to have a 43-story residential tower built over it.
The telco sold a data center in Melbourne to Centuria REIT in 2020 in a sale-leaseback deal.
