CGD in London for Big Data Debut as Trading Begins for Thailand’s First International REIT
CGD in collaboration with its affiliate company MFC Asset launches Thailand’s first fully subscribed international Real Estate Investment Trust for Anchorage Point, a data centre located in London, United Kingdom.
Anchorage Point operates in the lucrative data centre sector and is located in an area highly prized for its accessibility, Charlton (Docklands), South East London, UK. It consists of three fully equipped data centres which cover an approximate 2,294 sq.m and operates at 100% occupancy.
CGD’s acquisition and entrance into the data centre market was backed by strong fundamental growth drivers in the sector such as the rise in data creation and storage needs globally. The growing adaptation of cloud computing, the increase in corporate compliance with regards to data security and increased outsourcing of data centre requirements indicates that prime-located data storage centres may be one of the fastest value growth segments in real estate today. As the UK is currently one of the largest data centre markets in Europe, top tier data centres located in highly accessible areas similar to the Docklands will continue to command a premium.
“We are extremely proud to have successfully launched Thailand’s first international REIT.” said Mr. Ben Taechaubol, CEO of Country Group Development PCL. “Not only does the MIT demonstrate our investment and development capabilities, it also showcases our platform strategy in seeking off-market transactions in sunrise sectors and our ability to swiftly unlock superior value through leverage of our group synergy.”
“This project further solidifies Country Group’s leading position in the finance and real estate sectors, and on behalf of the Board of Directors of CGD, I would like to express our heartfelt thanks to our shareholders for the continued support.”
MIT is managed by MFC Asset Management PCL with Palmer Capital Asia (Hong Kong) Limited the property manager and the trustee being One Asset Management.
MIT’s first day of active trading was 23 December 2015, where the property is listed in the Stock Exchange of Thailand (SET) with THB 975 million trusts sold at THB 10 per trust unit, and a combined asset value of THB 1,500 million.
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*As featured in This Week in Asia, South China Morning Post.