Focus report Copenhagen - Colliers Denmark 2024

OFFICE - COLLIERS FOCUS REPORT COPENHAGEN 2024

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INDUSTRIAL/LOGISTICS RETAIL RESIDENTIAL OFFICE

up-to-date office premises but retaining many of their original features.

Most recently, in 2023, Telia moved to their new head quarters in Ørestad, close to both the airport and the Copenhagen city centre, while Novo Nordisk has also expanded their lease in the HUB1 office property with an additional 16,000 sq m, which they are expected to move into after summer 2024. Despite good infrastructure and a modern and up-to-date building stock, the office market in Ørestad has struggled with some vacancies compared to other Copenhagen office locations. This indicates that the area is not yet fully stabilised. 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 develop close to 66,000 sq m office space, including both head office and multi-user buildings as well as a hotel.

Ørestad has positioned itself as a key non-CBD office location and transport hub, still providing plenty of devel opment opportunities. The location caters to the require ments of a wide range of tenants in terms of space-effi ciency, 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, Rambøll, and a string of international companies such as Nestlé, Q8 and 3M, taking advantage of the district’s unrivalled infra structure, with metro, train, direct motorway access, and its proximity to Copenhagen Airport.