(Last Updated On: August 5, 2020)

Telstra sold its data centre complex in Melbourne to Centuria Industrial real estate investment trust (REIT) for $416.7 million.

25km from the Melbourne CBD at the suburb of Clayton is the complex, and it has 10 buildings and has a newly built 6.1-megawatt data centre, an adjacent 6.6-megawatt facility and a linked energy centre.

The sale also includes a triple-net lease-back arrangement, which means Telstra hangs on to the ownership of all IT and telecommunications equipment. The lease will last for an initial 30 year period, and will also have two 10-year options for an extension of the lease for Telstra.

Telstra will also maintain responsibility for the continuing operations, building upgrades and repairs, future CAPEX requirements and security.

Andrew Penn, Telstra chief executive said that this showed the progress of the company’s T22 strategy.

“As part of T22, we have the ambition to monetise up to $2 billion worth of assets to strengthen our balance sheet. This deal means we have now reached over $1.5 billion.”

“Data centres are an incredibly important part of the digital ecosystem and we continue to own and operate world-leading facilities in Australia and overseas,” Penn added.

It is expected for this sale to be completed by the end of the month.

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