At a glance
- The land sits next to Telehouse's Docklands campus at 2 Clove Crescent and is planned for a 65MW, high-density data center aimed at AI workloads.
- For investors underwriting London data center land, the deal prices planning consent as much as capacity: the £220 million price is roughly £3.4 million per megawatt of planned load before construction spend, a benchmark for other consented London sites.
- Telehouse's London North facility, opened in the 1990s, was the first purpose-built carrier-neutral data center in Europe, Data Center Dynamics reported.
Telehouse and parent KDDI paid more than £220 million ($294 million) for East London's Inventory Estate, buying the site from LaSalle Investment Management and Trilogy Real Estate, the companies said this week.
The land sits next to Telehouse's Docklands campus at 2 Clove Crescent and is planned for a 65MW, high-density data center aimed at AI workloads. Planning consent is in place for a 376,000 sq ft (35,000 sqm) building. The site currently holds two office buildings totaling 483,000 sq ft (44,862 sqm).
For investors underwriting London data center land, the deal prices planning consent as much as capacity: the £220 million price is roughly £3.4 million per megawatt of planned load before construction spend, a benchmark for other consented London sites.
Telehouse's London North facility, opened in the 1990s, was the first purpose-built carrier-neutral data center in Europe, Data Center Dynamics reported. The campus now totals six buildings, including Telehouse West Two, a nine-story facility that broke ground in October and is due for completion in 2028.
Reports that the two companies had agreed to buy the site surfaced in March, according to Data Center Dynamics. LaSalle and Trilogy had redeveloped East India Dock as a mixed-use campus.
Reported by the Data centers & fiber desk from Data Center Dynamics, Private Wealth Daily Deal Tracker and Private Wealth Daily archive. Published . Corrections