ASX RELEASE ASX Code: AJD 23 August 2017 Market rent review for...

ASX RELEASE ASX Code: AJD
23 August 2017

Market rent review for APDC’s Sydney data centre Asia Pacific Data Centre Group (APDC) today announces the outcome of the market review determination process for 4 Eden Park Drive, Macquarie Park (S1). The determining valuer has assessed that the market rent for S1 is $305 per square metre per annum, reflecting a rental increase of 7.87% relative to the current passing rent of $283 per square metre per annum. This increase will become effective from 21 December 2017 and continue to apply unless revised under CPI adjustments or market rent reviews in the future. As a result of the significant increase in S1’s rent, the Board of APDC is reviewing the carrying value of S1 and has decided to delay the release of APDC’s FY17 results until 25 August. It is expected that the Target’s Statement in relation to the offer from NEXTDC Limited will be released on Monday, 28 August 2017. The last independent valuation of S1 was $90,000,000 as announced to the market on 26 June 2017.