Highlights

  • Goodman Group (ASX:GMG) has signed a 20-year Lease with a global hyperscale customer for the first 50 MW phase of Tsukuba Tech Central in Greater Tokyo.
  • The first phase is part of a planned 1 GW data centre campus on a 45-hectare site acquired by Goodman in 2022.
  • The Facility is expected to be ready for service in early 2028, with Goodman responsible for development, ownership, fit-out and operations.
  • Advanced discussions are underway with customers for additional phases across the campus, while power and fibre connectivity have already been secured.

Goodman Group (ASX:GMG) has secured a 20-year lease with a global hyperscale customer for the first 50 MW phase of Tsukuba Tech Central, a planned 1 GW data centre campus in Greater Tokyo, Japan. The facility is currently under construction and is scheduled to be ready for service in early 2028. Goodman acquired the 45-hectare site in 2022 and will develop, own, fit out and operate the facility.

Long-Term Lease Supports Tsukuba Development

The newly signed lease covers the initial 50 MW phase of the Tsukuba Tech Central campus. Goodman said the agreement is with a global hyperscale customer, providing a long-term occupancy commitment for the first stage of the project.

The broader campus is planned to reach 1 GW of capacity. Goodman has also commenced advanced discussions with prospective customers for additional phases, indicating that development beyond the initial 50 MW remains under consideration.

Site-wide civil works have been completed, while construction of the first phase is continuing. The facility is expected to commence service in early 2028.

Power and Connectivity Infrastructure Secured

Goodman has secured electricity Supply from TEPCO for the campus and has obtained diverse dark fibre routes connecting the site with major interconnection points in Greater Tokyo for its exclusive use.

Power will be supplied through new grid infrastructure, while standby generators are intended for emergency use. The company said the campus has been designed around the requirements of AI and cloud workloads, including cooling systems capable of supporting liquid-cooled deployments.

The design is also intended to exceed Japan's latest energy-efficiency standards. Goodman is continuing discussions with customers and local utilities regarding renewable electricity supply for the campus.

Data Centre Demand in Greater Tokyo

Goodman highlighted the changing requirements of AI and Cloud Computing as a Factor supporting demand for data centre capacity in metropolitan markets. As AI workloads increasingly include inference applications, demand can be concentrated closer to end users, while cloud usage continues to expand.

For Tsukuba Tech Central, access to grid capacity is a key part of the development. Goodman stated that securing grid connections in metropolitan data centre markets can take several years, making available power infrastructure an important component of the project's development profile.

Goodman has more than two decades of property experience in Japan. Its existing Japanese data centre platform includes more than 300 MW of projects at Goodman Business Park in Inzai. In May 2026, the group was also appointed lead development partner for a proposed data centre campus in Sagamihara City.

Community Infrastructure Included in Campus

The Tsukuba development also incorporates a public amenity and disaster-prevention area of approximately 45,000 square metres on the southern side of the site.

Goodman is constructing and will manage the facility at no cost to the City. The planned area includes a plaza, cafés and shops, an emergency Warehouse and a dedicated water source for disaster use. Existing trees will be retained or transplanted, alongside additional landscaping.

The company said the campus development will use local contractors and specialist trades, with permanent operational roles expected across areas including engineering, maintenance, operations and security.

Conclusion

The 20-year lease marks a significant contractual milestone for Goodman Group's Tsukuba Tech Central development, covering the first 50 MW of its planned 1 GW Greater Tokyo campus. The project has secured power and fibre infrastructure, while construction is progressing toward a targeted early-2028 service date. Further customer discussions could determine the pace at which subsequent campus phases are developed. Japan also remains an important component of Goodman's broader Asian data centre platform, alongside its established logistics property operations.