On August 19, 2026, Stockland presented its FY26 results in a deck of slides. One of its data center slides lays out business models side by side, among them a powered land sale, turnkey and a powered shell, and marks which ones are its initial focus. Parts of the slides follow, not the whole.
Business Models, Side by Side
The slide belongs to the group's data center partnership with an operator, which the deck calls "a leading provider of data centre solutions." Its row headed "Business model" holds five cells. A powered land sale stands at the left, marked in a footnote "Stockland only." Turnkey stands next to it, then powered shell, cold shell and IT operations.
A key at the foot of the slide shades cells as "Initial Focus" or "Potential opportunity." In this row, two cells are shaded as the initial focus, the powered land sale and turnkey. Powered shell carries no shading. Beside the row, the slide says the "Partnership focused exclusively on Turnkey solutions."
Lower on the slide, in the row of target tenants, hyperscale is shaded as the initial focus. Beside that row the slide reads "Focused on hyperscaler customers" and "Targeting long term leases, typical for hyperscalers globally."
Powered shell is on the slide, unshaded, while the powered land sale and turnkey are shaded. A lender looking for a powered shell lease will not find one in these slides; it will find a partnership focused on turnkey.
Secured Power, and Pipeline Projects
Another slide reports about 450MW "of secured power across three sites; progressing final planning approvals." A footnote holds that figure to a condition: "Subject to final design, documentation and customer negotiations."
Two of the three sites, Cherry Lane and Brooklyn in Victoria, are in existing logistics use, with about 175MW secured at each and "AI/Hyperscaler" as the target customer. The third, MPark Stage 2 in New South Wales, is workplace land with about 100MW, and its target customer is "Cloud/Co-location."
Under "Pipeline projects," the table lists further sites, each marked "App. lodged," "Pre app. lodged" or "Planning," with "AI/Hyperscaler" as the target customer.
Sources
- Stockland. FY26 Results (presentation). 19 August 2026. company results call