The property in question is a commonhold unit in the property located at Finsensvej 78, 3rd floor, in Frederiksberg. The property houses a Lidl grocery store at the ground floor level, but the common unit in the top floor comprises unique office premises with double height, just as there is a large roof garden. Copenhagen Capital’s plan is to continue using the property for office purposes, also in the long term.
The property is known as a domicile for the architects JJW Arkitekter, who as part of a generational succession chose to put the property up for sale. The property is also the first DGNB gold-certified property in Denmark.
Property was sold for DKK 47 million with an estimated net initial yield of 6.5%. The office areas in the property is fully let to JJW Arkitekter with a total lettable area of 2,071 sqm office with the right to use the 707 sqm roof garden.
”The office premises are state-of-the-art, and the property has a very attractive location due to the closeness to the Flintholm Station. The property also enjoys many parking places. Demand for this type of office premises in Copenhagen is very high, and there is a high reletting security in the current market,” says commercial real estate agent Tina Iburg, Colliers in Copenhagen.
Copenhagen Capital has no plans of converting the office premises into residential use, even though it is a possibility.
”We are buying properties with a low reletting risk. We agree with Colliers that the office market is strong in Copenhagen at present, and the reletting risk is low for up-to-date office premises,” says director Lars Falster from Copenhagen Capital, and elaborates:
”Part of our strategy is to buy properties, which need to be developed and/or has an alternative use, typically residential use, but our plan with the property at Finsensvej is to continue with the office use, also in the long term”.
Colliers has mediated the sale on behalf of the seller, and partner/lawyer Philip Prochownik from the law firm Kammeradvokaten/ Poul Schmith has mediated on behalf of the buyer. Including this property, Copenhagen Capital now owns a total of 14 properties in Copenhagen and Greater Copenhagen.
Commercial Real Estate Advisor, Senior
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