Sutton will become home to a data centre campus after the Cambridgeshire village granted planning permission for the construction of the 700,000 sq ft site.
The Sutton data centre will be built on the site of the 43-acre Camro Data Park and will be funded by a two-year £9.25m refinancing loan through property investment company Topland Group.
“Camro Data Park has the potential to become one of the largest data centre sites in the UK. It’s got an exciting future, and with an ever-growing demand for data storage, we are pleased to have helped bring it one step closer through our senior facility,” said Anish Vora, Topland Group.
Lasercharm, the owners of the park, has secured outline planning permission and is now seeking detailed consent. According to the firm, the site will meet the demand for the shortage of power in London.
Due to the location of the site, Lasercharm says that it will require “minimal” use for cooling.
Philip Kay, senior asset finance advisor, Arc and Co said: “I’m delighted to have worked with Topland on this transaction. Their approach was commercial and methodical and I’m excited to follow the partnership with Lasercharm over the next couple of years.”
Topland says that it is also looking into further data centre land acquisition and development markets.
The built will be another boost for Cambridge’s tech credentials, which has become one of the UK’s leading hubs for deeptech startups.
It’s not the only region receiving investment, as this week saw Bruntwood SciTech open its £21m tech hub at Manchester Science Park.