Anthropic leases first stage of Queensland data campus

Anthropic has signed a lease for the first stage of the Western Downs Digital Park data centre campus in Queensland, linking the artificial intelligence company to a proposed regional development backed by Dexus, Zerra DC and Macquarie Capital.

Dexus said Australian Data Centres, in which it holds an 85% interest, owns a 25% stake in the consortium behind the project. The consortium has entered into lease documentation with Anthropic's Australian subsidiary for the first stage of the campus, subject to customary approvals.

The agreement is a significant step for a project pitched as a large-scale computing and energy precinct in the Western Downs region. A project website describes the development as a master-planned campus with up to four phases of data centres and associated infrastructure.

Dexus did not disclose the value of the lease in its market update. However, project material describes Anthropic's commitment as a long-term, multi-billion-dollar investment in the site, while user material provided with the announcement referred to a figure of USD $32 billion.

Under the ownership structure outlined by Dexus, Australian Data Centres sits alongside Zerra DC and Macquarie Capital in the consortium. Macquarie Capital is also acting as financial adviser to the group.

The first phase is expected to include an initial data centre facility, a battery-backed power conditioning system, a substation and supporting infrastructure. Temporary accommodation and amenities for construction workers are also planned.

Funding plans

Alongside the lease announcement, Dexus said Australian Data Centres is carrying out a capital raising to bring additional investors into the vehicle. Dexus may participate as an investor but has not decided whether to do so.

Australian Data Centres' obligations to fund the first stage and later phases remain subject to customary approvals, including approval by the Dexus board. That means the financial structure for the wider campus has yet to be settled.

The development also remains subject to local and state planning and regulatory processes. Project material says the site lies within a Special Industry Area under the Western Downs Regional Council planning scheme.

Regional site

The Western Downs location was selected in part for its access to electricity infrastructure. Project documents say the site would connect to the grid through the existing Braemar substation, avoiding the need for major new transmission infrastructure.

The region is already a major centre for electricity generation and storage. Project material says Western Downs has about 5.4GW of generation and storage capacity and has attracted investment in renewable energy and batteries.

Developers have presented that setting as important for a data centre project tied to artificial intelligence workloads, which can involve very large and variable electricity demand. The planned battery-backed power conditioning system is intended to help smooth fluctuations in demand placed on the network.

Water and cooling

Water use is likely to be one of the more closely watched aspects of the proposal in regional Queensland. The project says the campus will use air-cooled data centres rather than water-based evaporative cooling systems.

Project material says operational water use for the first building is expected to total 21 kilolitres a day, including 13 kilolitres a day of remaining raw-water requirement and 8 kilolitres a day recycled and reused on site. Rainwater harvesting is described as the preferred operational source, backed by recycling and an on-site dam, subject to approvals.

The developers say groundwater is not planned as a regular source of supply. During construction, processed water from nearby gas operations is proposed as the main source, subject to agreements and approvals.

Jobs and scale

The wider master plan points to a project with a large physical and economic footprint if all stages proceed. Estimates cited in project documents suggest about 1,500 direct on-site construction jobs a year on average during the build-out, around 1,400 direct operational roles at full capacity and roughly 2,100 indirect operational jobs in the wider community.

Those figures are based on an independent economic assessment and assume full delivery and operation of the proposed development. Actual outcomes would depend on staging, timing, occupancy and operating requirements.

Zerra DC, which is developing the project and is expected to operate it, was established by AGP Group, an investor and asset manager focused on energy, property and digital infrastructure. The project website says the campus would combine data centres, energy infrastructure and workplace facilities within a single precinct.

The lease with Anthropic gives the proposed campus an anchor tenant for its first phase, but key approvals and funding decisions remain outstanding before construction can proceed at full pace. Dexus said Australian Data Centres' future obligations to fund the first stage and later phases of the project remain subject to customary approvals, including Dexus board approval.