Property mogul Niall Molloy’s
Echelon is planning to massively expand its data centre portfolio using funds
from its parent Aldgate Developments.
The Times reports that
Echelon Data Centres, which is already expanding fast in Ireland, is investing £150m in a joint venture
to develop a London
data centre, The Point at Greenwich View. It adds the company has plans to
develop a portfolio of data centres across Europe.
Niall Molloy is founder of Echelon and Managing Director of Aldgate Developments, a prolific developer of major commercial buildings in Dublin and London, including Aldgate Tower. Echelon explain the relationship between the enterprises: “Echelon Data Centres was established in 2017 with the objective of developing, operating and owning a network of large-scale data centre campuses across Europe to meet the rapidly expanding global demand for data processing and storage solutions.
“We are owned
by Aldgate Developments – a successful London and Dublin-based property company with
a proven track record in large scale real estate and infrastructure
development. We currently have over 1m sq ft of commercial development in
progress between London and Dublin.
“The success of Aldgate
Developments has provided the liquidity required to fund Echelon to date. All
of our Data Centre sites are fully owned and our active projects are self
funded. We have excellent relationships and delivery history with ‘blue-chip’
institutional funders and have confirmed access to the required capital to
finance our upcoming data centre construction.”
Some, possibly Molloy
himself, may see interesting parallels here with those more widely known and
longer established property moguls David and Simon Reuben. The Reubens have
recently sold out of their Global Switch data centre business, which they
turned round since buying it in 2007, for a total sale value estimated at