Focus report Aarhus - Colliers Denmark 2024

OFFICE - COLLIERS FOCUS REPORT AARHUS 2024

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Aarhus V The offices in the suburbs of Åbyhøj, Brabrand and Aarhus V, collectively referred to as Aarhus V, are typically concentrated around the ring road and along the approach roads. The quality of the building stock is generally more variable than in Aarhus C and Aarhus N, which is reflected in a relatively large spread in rent levels. Along Viborgvej, a popular office area has emerged, attracting a number of large companies and new office buildings. Byporten Syd, which is the first stage of the Byporten pro ject and is located south of Viborgvej, has been acquired by Industriens Pension, who took over the property at the end of 2022. The second part of the project, Byporten Nord, is planned to be approx. 25,000 sq m over 20 floors. In Aarhus V, the transformation of the Gellerup neigh bourhood continues. Among other things, A. Enggaard is developing the Helheden area in Gellerup, which will be a mixed-use neighbourhood with approx. 55,000 sq m of residential and commercial space. The developer behind the project is PKA in collaboration with A. Enggaard. Building plot A, which consists of both offices and a Netto store, is now completed, while several projects on other building plots are ready and will turn the neighbourhood into a multifunctional area with mixed residential and commercial uses.

ment project, envisaged to transform the Lisbjerg area into a dense, urban and diverse city district where it will be attractive to both live and do business. In the longer term, Lisbjerg will also be home to one of the country’s major IT players, Bankdata, which would like to build a new, large office. However, the plans have been post poned due to rising costs, so Bankdata will remain in its current premises for the time being. Katrinebjerg is also being expanded with an 18-sto rey office tower for tech companies, called Incuba Next. Being developed by A. Enggaard, the office tower is expected to comprise 22,000 sq m and feature multiple rooftop terraces on staggered levels as well as meeting and conference facilities on the top two floors. The pro ject is expected to be completed in H2 2024. In Risskov, PFA and MT Højgaard have recently com pleted the second stage of the construction of Engsøhus. Engsøhus is part of PFA’s concept The Union, which offers serviced and flexible leases for companies that do not want to compromise on interior design and quality. As a tenant in the concept, you get access to an arrival area with digital reception, The Union Café, shared facilities such as a meeting centre, lounge, access to a patio and much more. The Union also offers an all-inclusive agree ment where everything from furniture, internet and cleaning is baked into the rent.

HOTEL INDUSTRIAL/LOGISTICS RETAIL RESIDENTIAL OFFICE

Sustained upward pressure on prime office yield requirements

3.00% 3.50% 4.00% 4.50% 5.00% 5.50% 6.00% 6.50% 7.00% 7.50% 8.00%

19 Aarhus city centre - prime

20

21

22

23

24

Aarhus city centre - secondary

Aarhus, outside inner ringroad - prime

Aarhus, outside inner ringroad - secondary

Note: Net initial yields, office, Aarhus. Level in 2024 indicates Colliers’ estimation at year-start. Source: Colliers