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August 25, 2016

European data centre market sees record colo take-up in Q2

News: London set a record in quarterly performance.

By Hannah Williams

Q2 2016 is set to go down as Europe’s best ever quarter in take-up of data centre space, with take-up of colo space peaking at a record 35.5MW across London, Frankfurt, Amsterdam and Paris.

According to CBRE, the Q2 success was driven by strong performances in the key hubs of London, Paris, and Frankfurt.

London saws 15.5MW of IT power transacted, a record for quarterly performance. CBRE put the record performance down to the success of the new Gyron campus facility in Hemel Hempstead – a company owned by Japan’s NTT and with interests extending to other hubs such as Frankfurt.

Although London performed well, the Paris market saw a huge surge in take-up, with the French Capital seeing a greater take-up than in 2014 and 2015 combined. With the 7.4MW of take-up in Q2, the French market can breathe a sigh of relief following the country’s two-year downturn in performance.

The significant bounce-back seen in the Paris market has been attributed to colo space sold by Data4 Group, as well as the wave of demand from cloud service providers deploying IT  infrastructure throughout key European hubs. Frankfurt, the other key hub in Europe, saw 10.8MW of take-up over the quarter.

Andrew Jay, Executive Director in the Data Centre Solutions team at CBRE, said:

“It’s encouraging that in a quarter which ended with the UK referendum, the colocation market had its strongest ever performance from the four major markets in Europe. Two key factors aligned to produce such a remarkable quarter. We saw strong demand from corporate and enterprise clients as well as cloud service providers. Furthermore a significant amount of space was pre-let, and contributed to our statistics, as individual buildings or phases became operational in Q2 2016.

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We have seen much positivity with regards to cloud service providers over the past two years but an additional injection from  institutional tenants, including  the government and insurance sectors, has ensured it has been our best ever quarter. “

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