Company Briefs: ST Telemedia Global Data Centres

ST Telemedia Global Data Centres

ST Telemedia Global Data Centres (STT GDC) announced yesterday that it has acquired Tata Communications' remaining 26 per cent stake in STT Tai Seng.

STT GDC, a Singapore-headquartered data centre provider, entered into a strategic partnership with Tata Communications' data centre business in Singapore and India in 2017, holding a 74 per cent majority stake in their data centre business in both markets.

Upon closing of this transaction, STT GDC will own 100 per cent of the facilities in Singapore, while the strategic partnership structure remains unchanged in India.

STT GDC said that it will continue to execute its strategic operational plans, and expand and strengthen STT Tai Seng's position as an interconnection hub across the Asia-Pacific with its rich network capabilities and abundant redundant power availability in the east of Singapore. STT Tai Seng, which is connected to various Tier 1 submarine cable systems such as the Australia Singapore Cable and TGN-Intra Asia, provides direct access to multiple Internet service providers, telecoms providers and cloud service providers.

Frasers Property

Frasers Property said yesterday that its Australia division and joint venture partner ESR Australia have acquired a 4.67ha site at 254 Wellington Road, Mulgrave, in Australia. The 50-50 joint venture sees Frasers Property securing the site while logistics real estate platform ESR undertakes the development, forecast to be completed by late 2025.

The Mulgrave site has an expected completed end value of A$400 million (S$377 million) when fully developed, which aligns with the approved development master plan for the site.

It has received planning approval for 60,000 sq m of commercial space, a 752 sq m cafe or retail area and 2,497 parking spaces. The site may possibly include a community hub which incorporates a gymnasium, a restaurant and activated outdoor open space.

Nissan Motor Co Australia has been secured as the site's anchor tenant; it plans to utilise the space as its new head office after 40 years in its current Dandenong South facility. Its 11,000 sq m facility will be spread across five floors - including the ground floor - of the eight-storey building. It will also comprise over 9,000 sq m of office space, 1,850 sq m in workshop space and 550 car bays.

Nissan's building is expected to be completed by May next year.

A version of this article appeared in the print edition of The Straits Times on June 15, 2019, with the headline 'Company Briefs'. Print Edition | Subscribe