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Danske Bank headquarters at Holmens Kanal sold

Thylander Group in a joint venture with German pension fund Ärtzeversorgung Westphal Lippe and KanAm Grund has acquired the historic headquarters of Danske Bank at Holmens Kanal in central Copenhagen. Colliers and Accura were advisors on the buy-side. 

Overall, the property complex comprises approx 50,000 sq m across 15 buildings in a unique location at Kongens Nytorv in the area between Holmens Kanal, Bremerholm and Vingårdsstræde. The oldest buildings are more than 200 years old and have significant architectural merit and a rich history – not only involving Danske Bank, but also Copenhagen and Denmark.

The buildings are fully let to Danske Bank, in 2023 relocating its headquarters to a newly developed domicile building on the former post office site at Copenhagen Central Station.

In the years following Danske Bank’s relocation, the area will transform dramatically. From being closed and introvert, the area will be redeveloped to become an integral and open part of the cityscape with an attractive mix of offices, shops, a hotel and restaurants, etc. of high quality.

Lars Thylander, Chairman of Thylander Group, says, “This is an exceptional and historic opportunity to bestow on the city a new unique and high-quality city environment for the benefit of Copenhagen”, and continues, “An opportunity like this only comes along few times in a lifetime, and we are proud that Thylander Group will play such a central role in realising the potential for the benefit of present and future generations of Copenhageners”.

Kristian Krogh, CEO/Managing Partner of Thylander Group, states, “These are extraordinary times in which to announce a transaction of this volume, but focus is here long term and we have several years ahead of us to plan the development of the buildings in detail”. He adds, “Our skilled team has done a tremendous job in carrying out the acquisition and now we are launching the exciting redevelopment work. We will be looking to strengthen our organisation further with skilled employees to assist in this and other exciting projects that Thylander Group is engaged in”. 

In the transaction, CBRE was sell-side advisor to Aberdeen Standard Investments represented by Capital Investment. On the buy-side, Colliers and Accura were advisors. The parties have agreed not to disclose the purchase sum.

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