Telstra announced on Wednesday it is selling its Clayton data centre to Centuria Industrial REIT for AU$417 million and leasing back the facility for an initial 30 years, with the telco to have a pair of 10-year options for extending the lease.
The facility houses Telstra's newest 6.1MW data centre as well as another 6.6MW building.
"The sale includes a triple-net lease-back arrangement which means Telstra will retain ownership of all IT and telecommunications equipment, as well as ongoing operations and responsibility for building upgrades and repairs, future capex requirements, and security," the company told the ASX.
The move was pinned as being part of its T22 strategy, with CEO Andy Penn stating the telco had now monetised AU$1.5 billion worth of assets and was closing in on its AU$2 billion target.
"Due to the long tenure of the lease-back, the transaction will not be treated as a sale under accounting standards, therefore no accounting gain will arise," the company said.
Earlier this week, the telco announced its intention to have 75% of the population covered by its 5G footprint by June 2021.
"Our 5G network already covers around one-third of the population," Penn said.
"Telstra's 5G is already rolling out in 53 cities and regional towns across Australia and more than 10 million Australians now live, work or pass through our 5G network footprint every day."