Legal & General, specialist digital infrastructure investment firm Goldacre and data center development partner sineQN announced that planning has been approved for a £750 million ($976 million) sustainable, urban hyperscale data center investment located in the London borough of Newham.
The development is expected to contribute £88 million ($114 million) to Newham’s gross value added, creating more than 1,000 skilled jobs during the construction and operation phases, and is targeted to attract 500 high-growth data businesses to the borough. The consortium brings together their digital infrastructure experience and expertise in this new and independent project.
The data center represents a significant investment and contribution to further regeneration in Newham, where L&G has already provided more than £550 million ($716 million) to the development of high-quality and multisectoral regeneration projects, delivering housing and public realm benefits as wel