Focus report Copenhagen - Colliers Denmark 2024

RETAIL - COLLIERS FOCUS REPORT COPENHAGEN 2024

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Benefitting from direct Metro access in its basement, the Magasin du Nord department store at Kongens Nytorv has succeeded in retaining a strong customer flow, securing its position as a strong competitor to Illum. Kongens Nytorv has in recent years come into play as a high-street location. Similarly, activity is brisk at Store Strandstræde, which runs off it. Although not considered a prime high-street location, the Købmagergade/Frederiksborggade area, including the Kultorvet square, attracts substantial footfall and visibility due to its location near Nørreport station. The area predominantly features brands selling homeware, houseware and the like, as well as cafés and restaurants. Especially in this area and the part of Købmagergade that meets Amagertorv, the street scene is increasingly char acterised by fashion disappearing. Benetton's former premises on Købmagergade have been taken over by the beauty clinic Cerex, Booztlet's former lease remains empty and the premises where Abercrombie & Fitch was located have been vacant since 2021. The lack of demand for premises for fashion stores is believed to reflect a more permanent trend that is expected to characterise the future high-street rental market at Strøget. The lower end of Strøget, including Vimmelskaftet, terminating at Rådhuspladsen, today features a mix of traditional retail shops, bars, restaurants, etc. A small consortium, backed financially by the City of Copen hagen, has formed to revive Frederiksberggade. Against this backdrop, there is a strong expectation that the area will reposition itself as a more attractive retail location in the future. The Copenhagen Latin Quarter and Grønnegade/ Ny Østergade area Surrounded by the streets of Strøget and Købmagergade towards Rådhuspladsen, including Skindergade and Fiolstræde, as well as a host of side streets running off Strøget, the Copenhagen Latin Quarter contains a mix of small retail shops, bars, cafés, night clubs and restaurants.

former premises, which are currently being remodelled, and as a whole, this relocation confirms Strøget's position as a unique retail location in Copenhagen. Although more high-profile brands are moving from Østergade towards Amagertorv, there is still demand for space along this stretch. New tenants here include COS and J. Lindeberg, with the former moving from a location closer to Amagertorv. In addition, the stretch is home to a cluster of flagship stores within gold and silver, including exclusive stores such as Klarlund, Hvelplund, Halberstadt and Cartier.