Focus report Copenhagen - Colliers Denmark 2024

RETAIL - COLLIERS FOCUS REPORT COPENHAGEN 2024

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Copenhagen other central retail districts

Comprising Østerbro (the east bridge), Nørrebro (the north bridge), Vesterbro (the west bridge) and Amagerbro (the bridge to Amager), ‘brokvartererne’, i.e. the ‘bridge quarters’, form a semi-circle around the Copenhagen high street. The sovereign municipality of Fre deriksberg is considered a central retail district. Although considered more peripheral districts, Valby, Vanløse, Hellerup and Charlottenlund are emerging retail destinations.

Østerbro Østerbro also ranks as an important non-CBD retail location, fronted by the traditional shopping streets of Østerbrogade and Nordre Frihavnsgade, both providing a varied and high-quality offering of shops run by mainly local retailers and domestic brands. In 2023, Nordre Frihavnsgade was converted into a cycle street, where cars and buses now have to adapt to cyclists. This is to make Nordre Frihavnsgade a livelier shopping street. Furthermore, the district features a bustling restaurant and café environment. But unlike Frederiksberg, the district does not boast a centrally located shopping centre. Vesterbro In the district of Vesterbro, Vesterbrogade and to some extent also Istedgade are the main shopping streets. Over the past few years, Vesterbrogade has transformed from a traditional shopping street, today containing a large cluster of cafés and restaurants, especially on the stretch closest to the Copenhagen city centre. With the district counting numerous hotels near Copenhagen Central Station, the great many tourists in the area add to a solid customer base. In recent years, Kødbyen (the former meatpacking district) and the new Tivoli Food Hall have served to make the location more attractive. In addition, the metro station at Enghave Plads has boosted both accessibility and the area’s retail and leisure scene. Nørrebro and Amagerbro The districts of Nørrebro and Amagerbro feature more fragmented shopping streets, including both attractive

In general, each of the districts have a main shopping street, local retail areas and a local shopping centre. The composition of residents varies across the districts, but shops typically cater to local requirements, in terms of grocery shops, along with specialty shops and fashion retailers. Mimicking the overall retail market trend, the above city districts have seen a sharp increase in the number of specialty shops, including coffee shops, juice bars, bakery shops, cafés and restaurants. At prime locations, vacancy rates are very moderate and re-letting periods often short. Secondary locations, i.e. typically the locations situated the farthest from the Copenhagen city centre, account for most retail vacancies in the districts. Frederiksberg Among the central city districts outside the high-street market, Frederiksberg stands out as a shopping desti nation, headed by the thriving shopping streets of Gammel Kongevej and Falkoner Allé. In addition, the upscale avenue of Frederiksberg Allé, currently considered a slightly more secondary location compared to the above-mentioned streets, is expected to see increased footfall. Benefitting from a large and financially strong catchment area, Frederiksberg Centret, also marketed as FRB.C Shopping, ranks as a top-performing local shopping centre in Denmark. Following extensive expansion schemes in recent years, the shopping centre features 90 quality units arranged over three floors and offers one hour’s free parking in multistorey car park.