Press Release

ICG Real Estate acquires £125m Central London digital infrastructure portfolio leased to Vodafone

Thu 26 Oct 2023

ICG Real Estate’s strategic real estate team has completed the purchase of a portfolio of freehold digital infrastructure assets in Central London, which are let to Vodafone UK.

Upon completion of the acquisition, ICG’s team and Vodafone have renegotiated the existing leases, extending them to 2048 and including RPI linked increases, thus immediately enhancing the portfolio’s value.

Chris Nichols, Head of Strategic Real Estate, said: “Working in partnership with Vodafone, we engineered a solution which secured its long term infrastructure, whilst generating an immediate value uplift for our investors.”

The 260,000 sq ft portfolio comprises five data exchanges, predominantly located within the heart of Central London. The exchanges provide connectivity for Vodafone’s customers. Fuelled by the rapidly increasing demand for data, broader digitalisation trends and new emerging technologies, digital infrastructure is a core ICG Real Estate investment focus.

Colliers acted as buyside advisor to ICG Real Estate on the transaction, as well as for Vodafone in its lease regear for continued long-term use of the assets.

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