Australian real estate firm Centuria Industrial REIT (CIP), traditionally known for industrial warehouses, is looking to tap into data center demand in Australia.

In its FY 2026 results, the company outlined its existing portfolio and plans to develop more than 250MW of capacity at existing data center campuses and potential industrial redevelopment sites.

The real estate firm currently owns three data center sites, two of which could be expanded, and has filed power applications for three industrial properties it has identified as potential data center development projects.

Jesse Curtis, Centuria head of funds management, said: “CIP continues to leverage its exposure to the data center sector. Australia’s data center market is experiencing substantial growth, with demand now outpacing supply amid accelerated digital transformation and AI adoption. Our recent acquisitions and development initiatives in this space, including the lodged DA for a new 40MW data center, position CIP to capture outsized benefits from one of the fastest‑growing segments in real asset investment.”

ASX-listed Centuria Industrial REIT is Australia’s largest domestic pure-play industrial REIT. It is a wholly owned subsidiary of Centuria Capital Group, a real estate group and funds management company.

The company acquired a Telstra data center in Melbourne, Victoria, in 2020. The 12MW site, opened in 2014, was acquired in a sale-leaseback deal. Centuria aims to build a new 40MW facility at the site that could go live in 2029.

Centuria also owns a Fujitsu-occupied data center in the Malaga area of Perth, Western Australia.

The firm also owns the Wellcamp Data Centre in Toowoomba, Queensland. The 3,565 sqm (38,373 sq ft) facility, located on Pipe Street, currently offers 2.5MW and features expansion potential on a 5.7-hectare site. Established in 2018 and operated by Pulse DC, Centuria acquired the Pulse Data Centre from Pulse Properties for AU$30m in January 2026. Centuria DC is now the lessee, according to Centuria, with a 15-year lease on the site.

In its latest results, the firm says its 1 Hardie and 2-8 Cawley Road warehouse site in the Yarraville area of Melbourne has potential for development into a data center. Acquired in late 2025 for AU$30.2m (US$21.29m), the site is leased to the current tenant until 2028, but a pathway to power is “in progress,” according to the real estate firm.

Centuria lists two other potential redevelopment projects. The Thomastown site in Victoria currently hosts two industrial facilities over 10.6 hectares, leased until 2027 and 2031. Centuria has filed a power application with VicGrid and AusNet and says the site could have “significant” power, with the first phase going live as early as 2029.

In Hazelmere, Western Australia, the company said it has submitted a power application to potentially develop a data center on its 6-hectare industrial site.

Centuria Capital Group also owns a large stake in local cloud provider ResetData, which deploys immersion-cooled equipment for its sovereign cloud offerings. The company occupies space at the Centuria-managed 818 Bourke Street, located in Melbourne. ResetData is targeting 200MW of capacity in the near future, both at Centuria sites and at third-party locations.