DataVita has secured a £25m loan from Oaknorth to expand its flagship data centre development near Glasgow.
The loan has enabled the development of new AI-ready capacity at DataVita’s data centre to support CoreWeave, the US AI cloud infrastructure provider.
The funding supported the initial phase of the expansion enabling construction work to progress while DataVita’s parent company HFD Group completed its long-term financing package for the wider development.
William Hill, chief executive officer of HFD Group, said: “The expansion of our flagship data centre marks a significant milestone for DataVita and reinforces Scotland’s position as an emerging destination for AI and cloud infrastructure. Demand for secure, resilient, high-performance data centre capacity continues to grow, and this investment will enable us to support that demand while creating infrastructure capable of underpinning the next generation of digital innovation.
“Fraser and the OakNorth team understood both the strategic importance of the project and the pace at which we needed to move. Their support enabled us to continue progressing the development while our long-term financing was being finalised, and we look forward to building on our relationship as we continue to grow.”
Fraser McPhail, senior director of debt finance at OakNorth, added: “The UK’s data centre market is entering an exciting new phase of growth, with investment increasingly expanding beyond traditional hubs as operators seek the power, land and renewable energy needed to support next-generation AI infrastructure. Scotland is particularly well placed to benefit from this shift, combining strong digital connectivity with abundant renewable energy and an increasingly attractive investment environment.
“DataVita has built an outstanding business serving both public and private sector customers and has ambitious plans to further strengthen Scotland’s digital infrastructure. We’re delighted to have supported HFD Group during this important phase of its expansion, providing the flexible funding needed to maintain momentum while the long-term financing was completed.”
