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Aroundtown, one of Germany's leading listed real estate firms, is advancing its plan to convert vacant office spaces into data centres amid growing European demand. The company expects its first centre in Berlin to be operational within three years, with six Berlin locations already receiving initial energy approvals. While the Frankfurt site awaits power allocation, Aroundtown has identified ten initial project assets and noted that roughly 100 of its buildings could potentially serve as data centres. The company is engaging with developers and operators and plans to secure higher energy capacity and full permits in the coming months.
Aroundtown, a major listed landlord in Germany, has announced that its first data centre in Berlin is expected to become operational within the next three years. The company had earlier outlined plans to transform vacant office spaces into data centres to meet rising European demand. Advertisement
While the Frankfurt site is still awaiting power allocation, Aroundtown has secured preliminary energy approvals for six Berlin locations. Chief Capital Markets Officer Timothy Wright noted that final approvals are expected in the coming months. The company has not yet received the full power supply applied for, as electrical grids in many major European cities are at capacity.
In total, Aroundtown has identified ten assets as initial project sites. Discussions with developers and potential operators have already begun, with the aim of completing infrastructure construction and having the first data centre operational within the three-year timeframe.
An external assessment has indicated that around 100 buildings in Aroundtown's portfolio could be suitable for conversion into data centres. Wright clarified that while not all may be converted, the company could expand beyond initial assessments if supportive measures from the German government are provided.
Next steps for Aroundtown will involve submitting additional power applications, securing greater energy capacity, and obtaining full permits to proceed with construction and operations.
Source Reuters
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