Data centres owner NextDC has closed a deal on a new site in Sydney’s north shore, snapping up the 1.25-hectare site at 219 Pacific Highway in Artarmon from commercial, industrial and residential development company Lindsay Bennelong Developments for $90 million.
The deal closed quietly a couple of months ago, affording NextDC with 53,250 square metres of new commercial space when a new data centre is built on the masterplanned site.
The property on the corner of Campbell Street and Pacific Highway, near the Gore Hill Business Park five kilometres from the Sydney CBD, was previously marketed for about $80 million by Knight Frank and GJS Property.
It adjoins sites occupied by Fox Sports, Chief Entertainment, Richard Crookes Construction and the Australian Securities Exchange Data Centre and is right next to the Royal North Shore hospital precinct.
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It is also short distance from the growing new St Leonards residential township and the future Crows Nest metro station.
On one of Sydney’s main power and data arteries, the site has access to secure power sources, which is useful to NextDC.
NextDC operates many centres around Australia, including one in Sydney, and plans another two. It recently said it would start buying sites in Sydney and Melbourne for its new centres in those cities, and another site in Perth for its second centre there.
Additionally, the NSW government has also compulsorily acquired a 1-hectare site at Campbell Street and Broadcast Way, adjoining NextDC’s new property, for Ausgrid’s new depot.
Previously in Chatswood, Ausgrid was forced to move its depot to another location due to use of its land for the Sydney Metro drilling works. The NSW government acquired the vacant 1-hectare site from the now defunct Masters Home Improvement group for Ausgrid’s new office, and poles and wires storage.
PropertyFox’s Michael Wydeman struck the deal for Ausgrid and the NSW government.
Ausgrid has lodged plans to construct a new 10-storey depot, sub-station, warehouse and car park at the new site for around $89 million. Works have commenced at the site.
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