Highbridge secures funds for data centres

April 26, 2011

Highbridge Properties, the UK-based property developer, has secured -£263m ($434m) of funding to expand its Cobalt Data Centre Campus near Newcastle in a boost for enterprise zones ahead of government plans to extend their use.

The new plans for the north-east development area are also a rare sign that such areas are attracting investment from property developers. The regional property markets are being hard hit as developers stop work on fears that there will be fewer corporate occupiers in the next few years. They are also struggling to fund plans as banks remain nervous of committing new debt finance to such areas.

Source: www.ft.com