Cromwell E-REIT To Invest In London, Frankfurt Data Centres (The Business Times)
July 13, 2020 — (The Business Times) Cromwell European Real Estate Investment Trust (Cromwell E-Reit) has signed a heads of terms agreement with its sponsor and Stratus Data Centres, to co-invest directly into 50 per cent stakes in two European data centre projects, subject to various milestones.
The first project is a two-stage, 100 megawatt (MW) data centre serving London. The six acre (2.4 hectare) site is located on fibre-optic routes in the east of London, and will be powered by renewable energy.
Negotiations with potential tenant operators are “well advanced”, and construction is expected to be completed in 2021, the parties said in a joint media statement on Monday.
The second, larger project is on a 34 acre (13.8 hectare) site serving Frankfurt. It is a multi-stage 300MW project with advanced pre-leasing agreements and planning processes underway.
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