CPH Office__Locations_Online_MR19

Copenhagen Property Market Report 2019

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Coupled with an increasing emphasis on public transport access, vacancy rates began to surge in the district.

In recent years, conditions have improved, with educational institutions such as Aalborg University absorbing a substantial share of vacant office space. Connecting Sydhavnen with the remaining parts of Copenhagen, a bridge now spans the fairway of Teglværksløbet, and the Copenhagen Metro line will expand to the district in 2023. One Metro station is expected to open at Sluseholmen, which will serve to reposition the district as an attractive office location. Havnestad, developed mainly by Skanska, has in recent years been successful in attracting several corporates such as MSD, Pandora and Aller Media, making it a popular mixed-use office and residential district. The project branded Highline by Skanska is in the pipeline, offering additional modern office space close to Copenhagen. Amager/Ørestad Located south of the Copenhagen CBD, the island of Amager benefits from close prox- imity to the Copenhagen city centre and excellent infrastructure, with easy access to the motorway grid, railway links, two Metro lines and Copenhagen Airport. Furthermore, the fixed links to Sweden and Avedøre Holme provide access to Scandinavia and large indus- trial areas, respectively. Ørestad is dominated by up-to-date, space-efficient properties, whereas other parts of Amager contain a large share of older office and production facilities. Locations such as Islands Brygge and Prags Boulevard have seen a dramatic transformation, with indus- trial properties converted into up-to-date office premises but retaining many of their orig- inal features. Ørestad has positioned itself as a key non-CBD office location and transport hub, still providing plenty of development opportunities. The location caters to the requirements of a wide range of tenants in terms of space-efficiency, flexibility and accessibility. Furthermore, the profile of the location is more low-key compared to some CBD areas, including Nordhavn, while still offering up-to-date office space at moderate rent levels. These factors have been crucial in establishing the area. Major office users in Ørestad include Nordea Bank, Rambøll, and a large number of international companies such as Nestlé, Q8, Accenture 3M, taking advantage of a perfect infrastructure with metro, train, direct motorway access, and the proximity to Copenhagen Airport. A new development area near Copenhagen Airport, Scanport, is currently emerging. Hoping to leverage the proximity to Copenhagen Airport, the fixed link to Sweden and the Metro line, Scanport plans to offer close to 100,000 sqm of commercial space on completion with a sizeable proportion for office use. Years ago, Ferring Pharmaceuticals decided to relocate to Scanport from Ørestad, and in 2017 construction started on the new 30,000 sqm head-office building, which is scheduled for completion in 2020.