Wing Tai Invests $50m in Data Centre

Listed Singapore Group Wing Tai has secured a data centre in the Tally Ho Business Park in Burwood East for $50m.

The property was sold by an undisclosed Singaporean vendor via an off market process conducted by Knight Frank. The vendor acquired the asset in 1997 for $11.2m.

The three level building comprises approx 10,000sqm and sits on a 9,200sqm site. The property is leased to DXC Technology which is the merged entity of CSC and the Enterprise Services business of Hewlett Packard Enterprise.

The transaction was struck on a yield of approx 6.5%.

Wing Tai holds a number of assets in Australian, including

• 380 Flinders Street, Melbourne - which it acquired in 2016 for $31m

• 464 St Kilda Road, Melbourne - which it acquired in conjunction with Abacus in April 2018

• 12 Brookhollow Avenue, Baulkham Hills,

• 28 Thornton Crescent, Mitcham,

Data Centre assets have the attention of several groups including Australia Pacific Data Centres, (now controlled by NextDC) and 360 Capital Group who is currently finalising a pre-IPO trust to acquire Data Centres assets.

Location Plan:

#Commercial