While NEXTDC's P1 data centre won't be formally opened until February, the project has reached "practical completion" meaning that building owner Asia Pacific Data Centre Group is obliged to pay NEXTDC the $23.8 million development fee.
The milestone also marks the start of NEXTDC's initial 15 year lease of the data centre.
That lease provides options for extensions up to another 25 years, company officials noted.
It provides 3000 square metres of technical space (1300 racks), with an IT load of 5.5MW.
P1 also houses 2000 square metres of office space for its customers' business continuity purposes.
NEXTDC also has sale and leaseback arrangements with Asia Pacific Data Centre Group for its M1 (Melbourne) and S1 (Sydney) data centres.