Colliers København Delrapport 2023 UK

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Innovative measures are called for to re-brand and revitalise the district. So far, the science and technology park of Scion DTU in Hørsholm has been a successful initiative. With sup ply ranging from single offices to large-scale office premises, the business park has become Denmark’s foremost deep tech communities with more than 290 high-tech R&D busi nesses. In recent years, DTU Science Park has seen virtually constant activity, today housing businesses like DHI, ALK, FMC and Floodframe. Birkerød/Allerød Located some 25 kilometres northwest of Copenhagen, the district of Birkerød/Allerød has several large-scale office areas of diverse quality, ranging from the obsolete to the more up-to-date. Some of the older office buildings used to serve as ancillary office units in connection with indus trial facilities. This property type has seen a decrease in de mand over the past years as businesses have zoomed in on space-efficient and flexible premises. Notwithstanding S-train stations in Allerød and Birkerød, the office areas of the district have less than ideal access to public transport. Previously preferred by the IT sector, the district is there fore typically discarded because of its lack of high-quality, space-efficient office premises close to public transport. The district is facing increased competition from alternative locations closer to Copenhagen with superior accessibility. This has slowed letting activity despite the availability of relatively up-to-date premises. Herlev/Ballerup The Herlev/Ballerup district has long been a preferred loca- tion for large-scale companies operating in the high-tech or financial services industries, with the Lautrupvang area at tracting a great number of businesses. Tenants in the area include GN Store Nord, Nets, IBM Danmark and KMD. Furthermore, the district houses the successful World Trade Center (WTC) Ballerup, which is a 17,000 sq m modern busi ness centre offering serviced offices. Thanks to the synergies of the location, including easy ac cess to customers, skilled labour and varying degrees of knowledge sharing, Lautrupvang has attracted also interna tional newcomers operating in the high-tech industries.The less established office locations in the district have a rela tively old building stock, constructed mainly in 1970–1990, and like in other suburban office locations, offices are com

monly laid out as ancillary offices with adjoining industrial facilities. Due to the inflexible layout of most premises as well as limited remodelling options, these locations suffer from weakening demand, and rent levels are among the lowest in the Copenhagen area in general. Even with the future light-rail link in place, it is difficult to envision a full scale reactivation of the more secondary locations. The west corridor Stretching primarily across the towns of Glostrup, Brønd- by, Albertslund and Høje-Taastrup, the west corridor has a relatively outdated office stock with many properties pre- dating the 1990s. Ancillary office units in connection with in dustrial facilities dominate the district, and due to their age, the buildings often have a highly inflexible layout. In addi tion, the district has a fairly large number of secondary of fice premises that attract little interest as they fail to meet today’s tenant requirements. As a result, vacancy rates are soaring in the district, especially in secondary locations. Infrastructure upgrade initiatives or investments in the existing building stock are not expected to significantly improve the situation. However, prime locations in the west corridor offer good accessibility and low rent levels, making the district a sought-after back-office location. Valby The district of Valby is currently undergoing massive trans formation, with former disused industrial facilities giving way to new attractive mixed-use commercial and residen- tial areas that are expected to appeal to many tenants in the years ahead. The bright outlook is driven mainly by the area’s affordable rent levels, excellent accessibility as well as development opportunities. For instance, the area around Gammel Køge Landevej is currently being lifted, with former industrial facilities being converted into attractive office premises while preserving their industrial exterior. With København Syd (Copenhagen South, formerly known as Ny Ellebjerg station) as a future hub linking also to the Copenhagen Metro (as from 2023), the area around Carl Jacobsens Vej has started to attract newcomers, including the Danish Building & Property Agency (Bygningsstyrelsen) as well as acclaimed architecture firm Bjarke Ingels Group (BIG). In addition, Genmab’s new head office is under con struction in Valby, scheduled for completion in 2023.

Copenhagen Local market report to Colliers Market Report 2023