Telstra has agreed to sell its Clayton data centre complex in Victoria to the Centuria Industrial real estate investment trust (REIT) for $416.7 million.
The sale includes a “triple-net lease-back arrangement”, which means Telstra retains ownership of all IT and telecommunications equipment, as well as ongoing operations and responsibility for building upgrades and repairs, future capex requirements and security, it said in a financial filing.
The complex was put up for sale in May this year as part of the telco’s ongoing T22 transformation and simplification program.
“As part of T22, we have an ambition to monetise up to $2 billion worth of assets to strengthen our balance sheet. This deal means we have now reached over $1.5 billion,” Telstra CEO Andy Penn said.
“Data centres are an incredibly important part of the digital ecosystem and we continue to own and operate world-leading facilities in Australia and overseas."
The Clayton campus is spread over 3.2 hectares and incorporates 10 buildings, including Telstra's newest 6.1MW data centre and its adjacent 6.6MW data centre and associated energy centre.
The telco said it expects the sale to be completed by the end of August.
But “due to the long tenure of the lease-back, the transaction will not be treated as a sale under accounting standards, therefore no accounting gain will arise,” the telco said.
The lease is for an initial period of 30 years with two 10-year extension options.
Telstra said the sale would have no impact on customer services.
The telco spent the early part of the last decade on a multi-year modernisation of the Clayton facilities.
