Tritax Big Box REIT (BBOX) has secured planning permission for its 107MW Manor Farm data centre development in Slough, Berkshire.
The scheme had been opposed by Slough Council, but following a six-week judicial review, the government last month ruled in favour of the developer Manor Farm Propco, a BBOX subsidiary.
BBOX said a pre-let agreement for this scheme is now in solicitors’ hands and it has secured an accelerated pathway to obtaining a power connection for the 74-acre site, which is in the Slough Availability Zone.
“Achieving planning consent at Manor Farm represents a significant value creation milestone for shareholders and is the first major demonstration of our data centre value creation strategy,” said BBOX chief executive officer Colin Godfrey.
“By progressing a 107MW scheme in one of Europe’s most supply-constrained data centre markets, we have materially enhanced the value of the site while de-risking the route to development.”
Once operational, the facility is expected to achieve a 9.3% yield on cost.
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