“…Despite being considered as a nascent asset investment class, the increasing significance of the alternative property sectors has attracted a number of empirical investigations on their risk-adjusted performance and portfolio enhancement attributes, both in the context of broad alternative property sectors (McIntosh et al , 2017) and sector-specific coverage such as healthcare properties (Newell and Marzuki, 2018a) and student accommodation (Newell and Marzuki, 2018b). Meanwhile, previous studies on data centre properties are confined to issues pertaining to valuation applications (McAllister and Loizou, 2009), planning considerations (Jones, Hillier and Comfort, 2013; Jones, Hillier, Comfort and Clarke-Hill, 2013), sustainability practices (Jones, Hillier and Comfort, 2013; Jones, Hillier, Comfort and Clarke-Hill, 2013; Shuja et al , 2016) and energy consumption and efficiency (Abaunza et al , 2018; Depoorter et al , 2015; Flucker et al , 2018; Oro et al , 2015). To the best of the authors’ knowledge, no previous study has explored the institutional investment opportunity in data centres.…”