Sydney-headquartered builder-developer Lendlease today announced its first data centre development in Japan under Lendlease Data Centre Partners (LLDCP). The company said it will be “one of the largest of its scale” in country and will meet fast-rising demand for digital services amid the coronavirus pandemic.
Located in Greater Tokyo, the facility is sited on approximately 33,000 sq m of land and will have more than 60,000 sq m of gross floor area, of which close to half has been pre-leased.
Construction starts later this year with the initial phase set to be complete by early 2024. Lendlease put the gross development value of the project at more than US$600m.
Demand for data centres has surged during the pandemic, with digitalisation emerging as a priority for businesses.
“Japan is well-placed as a key connectivity and distribution hub for global hyperscale cloud providers, which, in turn, is driving high demand from data centre service providers,” Lendlease said in a press note.
LLDCP is funded 20% by Lendlease and 80% by a global institutional investor. The fund’s mandate covers Australia, China, Japan, Malaysia and Singapore, and includes both completed assets and new development opportunities. Under the partnership, Lendlease undertakes development, construction, property and investment management.
Andrew Gauci, the company’s managing director in Japan, said: “The demand for data centres in the Asia Pacific is set to grow exponentially, with internet-related services usage soaring due to the pandemic.”
Image courtesy of Lendlease