On behalf of AabyCity Holding, Colliers’ Aarhus office has brokered the sale of a residential development in the Aarhus suburb of Åbyhøj. On completion, the estate will extend to 8,400 sq m residential space, with 101 flats in apartment blocks, located in the new neighbourhood of Åbyen.
Acting on the basis of an investment mandate by a German pension fund, the buyer was Berlin-based Catella Residential Investment Management, targeting European residential property investments.
The development takes place at Lokesvej in Åbyhøj, just outside the inner ring road in Aarhus, on the former commercial site of domestic haulage contractor Danske Fragtmænd, known as
Fragtmandscentralen (the Freight Terminal). The scheme in question represents phase 2 of the new neighbourhood of Åbyen, linking Åbyhøj and central Aarhus.
“These flats will appeal to both families, senior citizens and young people that want to live close to nature, but also close to the city”, says Anders Holm, Director with Colliers Aarhus in a commentary on the transaction, adding,
“This is a truly excellent location as the popular Brabrandstien cycle path virtually runs in your backyard, it is easy to shop for groceries in the new Netto supermarket nearby, and the city centre’s specialty shops and educational institutions are only few minutes away. There is no doubt that these dwellings are attractive, which is one of the factors that makes it fair to expect this to be a profitable investment. For some time now, we have seen substantial investor appetite for exactly this type of development, both from domestic and foreign investors.”
Designed by Arkitema Architects, the new housing will be constructed by JCN Bolig. The estate will comprise 7 blocks in total, offering flats in a various range. The flats will be ready for occupancy in about two years’ time.
The buyer was advised by Thylander Gruppen and Accura and the Seller was advised by Colliers and Bech-Bruun.
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