Macquarie Technology Group has announced that a wholly owned subsidiary in its Macquarie Data Centres Group has entered into a put and call option with a property investment and development company to purchase a large parcel of land for a new data centre campus in Sydney.
As defined by Key Law, a put and call option agreement is "an agreement between a potential buyer and potential seller ... it is not a contract for the sale of property, but an agreement to buy or sell property on a future date or when a specific event occurs".
Subject to development approval and further board approvals, Macquarie Data Centres intends to construct a new data centre campus in stages that is expected to deliver more than 150 MW of IT load.
The campus will be designed for hyperscale customers, AI, cloud and government workloads.
The proposed acquisition aligns with the company’s strategy to develop campus style data centres in city locations that are "highly desired" by its clients.
The new campus requires subdivision of the land, which is expected to take a number of months to receive planning approval. If the subdivision process is successful and the option is exercised, then the purchase price of $240 million is intended to be funded through existing cash reserves and the Group’s corporate debt facility.
The company said that Macquarie Data Centres' current IC3 SuperWest data centre development continues to progress well and remains on time and on budget for completion of Phase 1 of construction in September 2026.
Phases 2 to 4 of IC3 SuperWest will continue to be rolled out progressively.
Together with the new campus announced today, the company stated that it will be strategically placed to provide a continuous pipeline of available capacity for its customers over the next seven to 10 years.
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