Australia's data-centre market, though nascent, saw outsized investment this year with Blackstone buying AirTrunk for A$24 billion ($14.91 billion) in September and developer NEXTDC raising nearly A$4.6 billion in equity and debt. Higher exposure to data centres in development makes the market more comfortable paying a higher multiple for the business, said John Lockton, head of investment strategy at Sandstone Insights.
