: Goodman reveals plans to develop new data center in Sydney

Real estate firm Goodman is planning to develop a new data center in Sydney, Australia. The company is reportedly planning to invest $1.4 billion in redeveloping the former ABC television studios on Sydney’s North Shore into a data center. The Australian Broadcasting Corporation (ABC) sold the site, at 2-8 Lanceley Place & 14 Campbell Street in Artarmon, to Goodman for AU$90.5 million (US$58.99) in 2022.

Jason Little, CEO Australia at Goodman Group, said after the sale, “We purchased the site because of its scale, and its location in a tightly held market. This is aligned to our strategy of owning assets in markets where barriers to entry are high, supply is limited, and demand is strong.”

 Goodman’s head of planning, Guy Smith, also wrote in a document before NSW’s director of industry assessment, “The existing developments on site are specialized to the ABC’s prior studio operations, and are not fit for purpose for market requirements. “The site provides strong strategic merit to accommodate the booming requirements for data center operators and hyperscalers, in a location that leverages immediately surrounding infrastructure and unlocks capacity to meet the demands for cloud data storage, enterprise uses, and AI (artificial intelligence).”