Perth data centre, office trades for $13.1m
Baron Property Group has sold a 15 year old data centre and office investment off-market.
The $13.13 million result for 5 Watts Place, Bentley, within the Bentley Technology Precinct, reflects a 6.87 per cent net passing yield.
Developed by ASG Group, the two-level complex previously sold to Vocus Communications for $11.7m in 2014.
ASG remained as a tenant while Vocus expanded its Perth data centre footprint; at the time it said the property would strengthen its network servicing mining, government and enterprise clients.
It was offered this time around leased to Vocus Data Centres and Curtin University.
The weighted average lease expiry by income is 6.5 years.
CBRE’s Nicholas Volk was the agent.
The buyer is a London-based investor (continues below).
5 Watts Place
The data centre. with a megawatt power supply, and office building, contains 1961 square metres.
The site spans 3353 sqm with 49 car parks.
Bentley Technology Precinct, about seven kilometres south east of Perth’s CBD, is considered one of the country’s leading education, research and innovation hubs.
Curtin University occupies other space there with a range of government and technology groups.
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