Telehouse and its parent KDDI have completed the purchase of the Inventory Estate in East India Dock, London, for more than £220 million. The sellers are LaSalle Investment Management and Trilogy Real Estate, and the deal values the campus at US$294 million, Telehouse said. Telehouse says 65 MVA of power has 
Exterior photograph of Telehouse North Two at the adjacent London Docklands campus.been secured at the site for a high-density, AI-ready data center beside its existing London Docklands campus.
Telehouse International Corporation of Europe, a KDDI-owned colocation provider, develops and operates the Docklands campus and will build and run the new facility. The purchase was completed with its Tokyo-based parent, KDDI, and announced on Oct. 29. LaSalle and Trilogy bought the campus from Criterion Capital in 2015 for £170 million and repositioned it as an education-led campus, Data Centre Review reported. Property reports before the announcement put the price at about £250 million.
The Inventory Estate covers about 1.1 million sq ft. Its two office buildings total 483,000 sq ft and are let to education tenants. The site already holds planning consent for a 376,000 sq ft (35,000 sqm) data center, which Data Centre Review reported accounts for roughly 10 percent of London's consented and powered data center pipeline. Data Center Dynamics reported the consent covers a 30MW facility, while Telehouse describes the 65 MVA secured as the foundation for phased, long-term expansion.
"The purchase of the Inventory Estate represents an important step in the long-term development of our London Docklands campus, one of Europe's leading connectivity hubs," said Mark Pestridge, managing director at Telehouse Europe.
"The new data centre will be one of the largest facilities in the Telehouse London Docklands campus, reinforcing its role as the leading connectivity hub in Europe," said Takayo Takamuro, executive officer and European chief executive at Telehouse.
The purchase follows Telehouse West Two, a nine-storey building with 32,000 sqm of gross area and 11,292 sqm of white space that is under construction at the same campus and due for completion in 2028. Telehouse puts the West Two investment at £275 million (US$370 million).
Baxtel tracks 20 data center facilities in London Docklands, totaling 168 MW, operated by 15 providers. Telehouse's Docklands North, East and West site is the largest facility in the market at 40 MW and 786,000 sq ft.
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