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Data Centre
ADDRESS Anchorage Point, Charlton, London SE7
| Location | Charlton, London SE7 | Investment Date | February 2008 |
| Transaction Type | Joint Venture Warehouse refurbishment Plant & Machinery installation |
Project Cost | Site £5.9m |
| Asset Type | Datacentre | Disposal Date | Unrealised |
| Funding | Senior debt & Mezzanine debt | Sale Proceeds | Unrealised |
Transaction Summary / Opportunity
Description: A Freehold warehouse building , leased to Tiscali as a data processing centre.
Opportunity: to acquire the freehold and leasehold interests, and refurbish the datacentre to provide a fully fitted datacentre to be occupied by the Joint Venture partner BIS.
Acquisition Method: Private Treaty
Value Added
- Established a Joint Venture agreement with BIS, an expanding Managed Service Operator of Datacentres
- Refined the business plan to create a model that could be used on future joint ventures
- Appointed a team of consultants for the JV partners to agree a specification of works suitable for a Tier 3 datacentre.
- Negotiated purchase of Freehold, Leasehold improvements, clarification of planning use and leaseback terms to the Managed Service Operator concurrently
- Obtained full planning consent.
- Obtained increased power supply.
- Installed plant and machinery within the building and generators and air-conditioning plant on the car parking area outside to provide a fully fitted datacentre within 6 months; the datacentre was finished substantially to Tier 3 standard having network connectivity and 1 KW per m2 power supply.
- Created new racking for Tiscali on a new 5 year sublease from the Managed Service Operator.
- Entered a new lease with BIS, the Managed Service Operator, for 25 years as a fully fitted datacentre.
- Rental Income after first year will achieve an ungeared Return on Cost of 12.8%.
