ICG Real Estate has announced the acquisition of five data centres located in the heart of Central London for £125 million.

The acquisition, which was completed by ICG Real Estate’s Strategic Real Estate team (ICG SRE), consists of a portfolio of facilities currently leased to Vodafone UK.

ICG SRE and Vodafone have agreed a lease extension, securing Vodafone’s occupancy until 2048.

The site comprises five data exchanges across 24,155 sqm of real estate located within Zone One of Central London. The exchanges serve as critical connectivity hubs for Vodafone’s customer base.

Chris Nichols, Head of Strategic Real Estate at ICG, said, “Working in partnership with Vodafone, we engineered a solution which secured its long-term infrastructure, whilst generating an immediate value uplift for our investors.

“This is a clear demonstration of our ability to provide both certainty of execution and a solution for corporate occupiers. We look forward to working with Vodafone to asset manage and enhance the existing portfolio, whilst seeking to unlock additional mutually beneficial opportunities.”

Colliers acted as buyside advisor for ICG Real Estate and assisted Vodafone in renegotiating their leases for the continued long-term use of sites.