Focus report Copenhagen - Colliers Denmark 2024

OFFICE - COLLIERS FOCUS REPORT COPENHAGEN 2024

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INDUSTRIAL/LOGISTICS RETAIL RESIDENTIAL OFFICE

around Flintholm station establishing itself as a prime office location in recent years, housing for instance the EY head office at Flintholm, Flintholm Company House II, developed by NCC. Other areas include the Frederiksberg City Hall square with the Rialto landmark building serving as centrepiece and Gammel Kongevej/Vodroffsvej near the Copenhagen Lakes with Codanhus as the most prom inent office building. Hellerup and Tuborg Havn Hellerup and Tuborg Havn on the waterfront are among the most attractive office areas north of the Copenhagen CBD, featuring a modern office building stock with street level or underground parking facilities. Access by car is fairly good, but the district lacks top-tier public transport as the main train station is not ideally situated vis-à-vis the office clusters of the district. There are no plans to link the district to the Copenhagen Metro. Tuborg Havn has traditionally been preferred by law firms, professional consultancies and financial institutions, but the location is increasingly competing with other office locations such as Nordhavn that offer closer proximity to the Copenhagen city centre. Despite massive competition from Nordhavn, there is still activity in the area around Tuborg Havn, where the Novo Nordisk Foundation bought a 54,000 sq m plot from Danica Ejendomme in 2023. The deal is conditional on a new local plan that allows for office

construction, and the new building will replace Danica Ejendomme's construction of two additional coastal houses in addition to the three already built. Because the Novo Nordisk Foundation has outgrown their current headquarters in the same area, they will build 16,900 sq m facing the water. Lyngby/Gladsaxe Supported by excellent motorway access, the Lyngby and Gladsaxe office locations have seen mounting demand in recent years. Located near the affluent residential districts of northern Zealand and a short distance from Copen hagen, the district offers lease opportunities for domestic and international companies in search for large-scale office premises. Furthermore, knowledge-intensive businesses prefer the location as DTU provides a large pool of highly skilled labour. As a result, businesses in the fields of IT, insurance and biotech, etc. have settled in the vicinity. Current large scale office users include Microsoft, Maersk Drilling, Danica Pension, COWI and Jyske Realkredit. However, the latter is moving to Kalvebod Brygge in mid-2025, when Jyske Bank concentrates all its activities in the building dubbed Glaskuben (the Glass Cube). PFA has launched its office concept The Union at two different addresses in Lyngby, of which one multi-user building is currently fully let, while vacancies remain in the other.