Australian datacentre provider NEXTDC has announced that it has achieved practical completion of the base building for its Perth (“P1”) datacentre on behalf of the base building owner Asia Pacific Data Centre Group.
(Image: Entrance at NEXTDC Perth Data Centre)
The on time and on budget achievement of this milestone completes the Company’s current capital recycling program, which saw it enter into sale and leaseback arrangements with APDC for its M1, S1 and P1 datacentres and the listing of APDC on the ASX.
Achieving practical completion for the P1 facility triggers the obligation for payment by APDC of the P1 Development Fee of AU$23.8 million to NEXTDC. Under previously announced arrangements, the P1 lease between NEXTDC and APDC commences on practical completion and is for an initial term of 15 years with options for up to another 25 years.
(Image: Security reception at NEXTDC Perth Data Centre)
The formal opening of the facility will take place in February 2014.
