Lincoln Rackhouse and Sprott Korea buy Surrey data centre

US-based Lincoln Rackhouse enters UK market in collaboration with Korean institutional investor

US data centre company Lincoln Rackhouse has partnered with Sprott Korea investment to acquire its first data centre outside of the US.

The 145,000 sqft facility is located in the town of Camberley, 31 miles southwest of Central London.

Lincoln Rackhouse will lease half of the data centre’s capacity to its previous owner, an unnamed Fortune 100 financial company, on a long-term contract. The remaining space will be leased to enterprise users or a data centre operator.

“We are very proud of the data centre portfolio we’ve built in the United States,” said Martin Peck, executive vice president and leader of Dallas-based Lincoln Rackhouse.

“By adding a quality asset like this in London, one of the world’s top data centre markets, we are taking our data centre platform to new heights,” he added.

The executive said the companies had to contend with “market upheavals” related to Covid-19 to see the deal over the line.

“To think this transaction was able to be successfully completed during these challenging times is not only personally inspiring, but it’s also a testament to the professionalism and dedication of all involved – our Lincoln and Sprott Korea teams, our attorneys, facility partners and our seller,” he said.

Infrastructure investor Sprott Korea has been ramping up investments into power and energy infrastructure in recent months. In September, the firm was among a group of Korean  investors that acquired a 49.9% stake in a portfolio of US wind generating assets totalling 852 MW of capacity.

CEO Seokhyun Yun said the company was “honoured” to collaborate with Lincoln Rackhouse on the Camberwell data centre deal.

“Sprott Korea is looking forward to showing its ability to fulfil client needs for future data centre investment opportunities,” he added.