Macquarie Technology Group subsidiary Macquarie Data Centres has exercised its option to buy a plot of land in Sydney.

The site totals ~34,200 sqm (368,125 sq ft) of light industrial zoned land located between Talavera Road and the M2 motorway in Macquarie Park.

According to Macquarie, it aims to develop a 200MW data center campus on the site, with initial construction estimated to be completed in late 2029.

Completion of the purchase is due in the coming weeks. The option was exercised following the successful completion of the subdivision process.

The land is valued at AU$240 million (US$167.95m) and will be funded through existing cash reserves and the group's corporate debt facility.

The new campus will also support research, technology and learning opportunities in conjunction with Macquarie University.

Macquarie said the development will include a one-acre park on the site that will feature a community garden and outdoor art gallery featuring works from local artists and Macquarie University.

Macquarie Data Centres CEO, David Hirst, said: “Alongside the ~200MW of Australian-owned and operated data centers this will deliver to Sydney's north zone, the proposed campus will also deliver lasting benefit to the local community. In partnership with Macquarie University, students and researchers will gain hands-on access to the latest data center, cyber security and cloud technologies. It will also provide a more than one-acre-sized intergenerational community park for City of Ryde residents.”

Macquarie said it is exploring a “range of options” to fund the cost of construction on the site, including capital recycling of existing assets and development partnerships.

Macquarie DC owns and operates two campuses in Sydney: one in the city’s central business district (IC1), and the Macquarie Park Data Center Campus, which is currently home to IC2 and IC3 – with IC3 Super West under development. The company also has two bunker data centers in Canberra.

The company first announced it was planning another campus in Sydney back in July 2025, but provided few details at the time.