Dataplex B10 data centre sells for a cool €66m to Singapore-based firm

18 Sep 201765 Shares

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Dataplex B10 data centre sells to Singapore-based real-estate investment firm.

A 70,000 sq ft B10 data centre in Dublin 15, established by Colm Piercy’s Dataplex Group in 2013, was purchased last week by Keppel DC Reit, which snapped up the property at the Ballycoolin Industrial Estate.

According to The Sunday Times, shares in Dataplex were valued at €11.5m in May 2016. Keppel is also purchasing a 999-year lease on the property from Piercy-controlled company Ficepot.

Keppel mainly invests in income-producing real-estate assets primarily used for data-centre purposes, and the acquisition of the B10 data centre will be 100pc debt-funded.

Blue-chip companies such as Facebook, Microsoft and Vodafone have agreements with the multiple-tenancy colocation facility.

The centre boasts four data halls and power densities of 6KW per track, hosting more than 20 independent fibre carriers. B10 has 8MW of connected power, designed to a Tier 3-plus specification and best practice in data centre architecture, achieving power efficiency of 1.15 PUE through availing of the naturally favourable Irish climate and indirect free air cooling.

A strategic addition

Chua Hsien Yang, CEO of Keppel DC Reit, told Data Center Dynamics: “This asset is a strategic addition to Keppel DC Reit’s portfolio, given its strong tenant profile with a long WALE [weighted average lease expiry] that provides income stability. Apart from enhancing its offering in a key data centre hub, the Reit will be able to reap operational synergies from its existing data centre, Keppel DC Dublin 1.”

Keppel has also recently made purchases in Milan, Cardiff and Frankfurt, and its Dublin base is sure to add fuel to the fire of predictions that Ireland will become an even more popular spot for data centre investment, particularly post-Brexit.

Ellen Tannam is a writer covering all manner of business and tech subjects

editorial@siliconrepublic.com