ICG Real Estate acquires £125m central London digital infrastructure portfolio and simultaneously extends Vodafone’s lease for 25 years

3D rendering of London
“Working in partnership, we engineered a solution which secured Vodafone’s long term infrastructure, whilst generating an immediate value uplift for our investors," said Chris Nichols, Head of Strategic Real Estate, ICG

ICG Real Estate, the real estate division of ICG, announces that its Strategic Real Estate team (“ICG SRE”) has completed the purchase of a portfolio of freehold digital infrastructure assets in Central London, which are let to Vodafone UK. Upon completion of the acquisition, ICG SRE and Vodafone have renegotiated the existing leases, extending them to 2048 and including RPI linked increases, thus immediately enhancing the portfolio’s value.

The 260,000 sq ft portfolio comprises five data exchanges, predominantly located within Zone 1, the heart of Central London. The exchanges provide connectivity for Vodafone’s customers. 

Fuelled by the rapidly increasing demand for data, broader digitalisation trends and new emerging technologies, digital infrastructure is a core ICG Real Estate investment focus.

ICG SRE is a pan-European strategy which specialises in working in partnership with corporates to acquire their mission-critical assets. Typically, ICG SRE accesses its investments by way of long-term, index linked and primarily sale and leaseback acquisitions, which also provide corporates with an alternate form of finance.

Chris Nichols, Head of Strategic Real Estate commented:

Chris Nichols
Chris Nichols

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 to ICG Real Estate on the transaction, as well as for Vodafone in its lease regear for continued long-term use of the assets.

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For further information please contact:

Clare Glynn

Head of Corporate Communications

T. +44 20 3545 1395

M. +44 7714 459 949

Email: [email protected]

FTI Consulting

Richard Sunderland, Dido Laurimore, Talia Shirion, Andrej Gregus

T: +44 20 3727 1000

Email: [email protected]

About ICG

ICG provides flexible capital solutions to help companies develop and grow. We are a leading global alternative asset manager with over 30 years’ history, managing $82.1bn of assets and investing across the capital structure. We operate across four asset classes: Structured and Private Equity, Private Debt, Real Assets, and Credit.

We develop long-term relationships with our business partners to deliver value for shareholders, clients, and employees, and use our position of influence to benefit the environment and society. We are committed to being a net zero asset manager across our operations and relevant investments by 2040.

ICG is listed on the London Stock Exchange (ticker symbol: ICP). Further details are available at www.icgam.com. You can follow ICG on LinkedIn , X (Twitter) and Instagram.