A fixture of Sydney’s telco history, the TPG Telecom-owned AAPT data centre in Forest Lodge, is on the market and expected to fetch around $45 million.
Listed by Colliers in on September 5, the three-storey data centre at 30 Ross Street has floor space of more than 6000 square meters on a 3600 square metre parcel of land.
The then “AAP Telecommunications” was created by the Australian Associated Press media wire, and after offering microwave links between Sydney and Melbourne for some years, AAPT obtained a telecommunications carrier licence in 1997.
TPG Telecom has a 15 year lease on the data centre, with an option for a further 10 years. It’s understood the telco intends to continue to use the facility post-sale.
Earlier this month, the Sydney Morning Herald gave the site its possible $45 million price tag.
Colliers said vacant areas in the building are subject to an application for “9B educational use”, with space for around 500 students if approved.
As the listing notes, Forest Lodge puts the site a stone’s throw from Glebe, the University of Sydney, and RPA Hospital, and it’s within 3.4km of the Sydney CBD.
“Considerable value add via letting of the vacant space, repositioning of the asset and future redevelopment (subject to council approval)”, the listing notes.
TPG Telecom acquired the facility from AAPT (which was then already a subsidiary) for $30 million in 2014.