Residential__Locations

Location descriptions Residential

Published by Sadolin & Albæk. Reproduction or citation only with acknowledgement of source. The Copenhagen Market Report is based on market data that we believe are reliable. Whilst every effort has been made to ensure that the information provided in the report is both accurate and complete, Sadolin & Albæk accepts no liability for factual errors. Sign up for our quarterly newsletter for analyses and articles on the Danish commercial and investment property market on www.sadolin-albaek.dk ISSN 2245-2451 Sadolin & Albæk A/S | Palægade 2, DK-1260 Copenhagen C, Denmark | Skovvejen 11, DK-8000 Aarhus C, Denmark | sadolin-albaek.dk | +45 70 11 66 55

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Copenhagen Property Market Report 2018

Residential Copenhagen

Discover Ørestad

Ørestad Started in 1997, Ørestad is a new Copenhagen mixed-use commercial and residential district that extends more than five kilometres from the outskirts of the Copenhagen city centre to the edge of Copenhagen Airport on the island of Amager. The district has six Metro stations, among them Ørestad station, which also provides regional train links to a wide catchment area, including Malmoe in Sweden. Once fully developed, in about 15 years from now, the district will house 3.1 million sqm floor space, with commercial uses accounting for 60%, residential for 20% and cultural facilities, services, retail trade and institutions for the residual 20%. This eventually translates into some 60,000 workplaces

Tuborg Syd

Islands Brygge Syd

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Copenhagen Property Market Report 2018

and 25,0000 residents. Nearly 20,000 people already study in Ørestad. Ørestad is divided into distinctive sub-districts, Ørestad Nord, Ørestad Fælled Kvarteret, Ørestad City, Ørestad Down Town and Ørestad Syd. Sydhavnen Sydhavnen (the south harbour) is a harbour district about two kilometres south of the Copenhagen city centre, bordering on new office buildings, hotels, etc. Furthermore, it is in close proximity of the Fisketorvet Copenhagen Mall shopping centre on the Kalvebod Brygge waterfront. Sydhavnen has three development areas, i.e. Enghave Brygge, Teglholmen and Sluseholmen. The district has become a highly popular residential location, reflected in brisk residential newbuilding activity in recent years. Sydhavnen will benefit from the Metro extension scheduled for commissioning in 2023, improving access to the area. In addition, a new combined road and footbridge across Teglholmsløbet is scheduled to open in the autumn of 2018 for pedestrians/ cyclists and in 2023 for car traffic, effectively connecting Sluseholmen to the south with Kalvebod Brygge to the north. Valby Valby is located about three kilometres west of the Copenhagen city centre. To the east, the area borders on the vibrant district of Vesterbro and to the north on the affluent district of Frederiksberg. The area has undergone large-scale urban renewal for the past ten years or so, creating a popular city district that commands ownership and rental prices on a par with the levels recorded in some of the most attractive districts of Copenhagen. Apart from renewal schemes, two major redevelopment sites will shape the future of the district. The 16-hectare former site of Grønttorvet (formerly a central vegetable market) will be developed with 234,000 sqm of primarily residential space, which translates into some 2,000 dwellings. Construction commenced in mid-2016 and the area is expected to be fully developed in 2021. As a tribute to its green history, the new city district will feature a central green hotspot ‘Grønttorvsparken’, a 23,000 sqm public park. Most of the district will likely be fully developed within the next 5 years.

Kanalkanten, Teglholmen, Copenhagen

At the former site of F.L. Smidth, the redevelopment of the Valby Have allotment society continues. With the first stages of conversion for

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Copenhagen Property Market Report 2018

residential use completed in 2005–2010, the remaining stages are expected to be completed by 2020. When fully developed, the area will contain some 1,200 dwellings and 35,000 sqm commercial space. In the southern part of Valby, Valby Syd, a large-scale conversion scheme has transformed industrial areas into attractive retail and office spaces. This has attracted several shops and firms operating in the service sector, including several government agencies, or creative industries. Together with the improved public transport access supported by the upcoming extension of the Copenhagen Metro and the Ringstedbanen rail link, connecting to Ny Ellebjerg station, this provides an ideal setting for attractive mixed-use residential and office premises. Developers and investors in the area are leveraging the mounting demand for affordable housing by middle-income groups as the area meets their requirements of central location, accessibility and attractive urban living. The Carlsberg City District The redevelopment of the former Carlsberg Brewery site is well underway, creating an entire new city district, the Carlsberg City District, with a distinctly urban ambience to outrival the neighbouring districts of Frederiksberg and Vesterbro. With planning provisions allowing for high- density building, the district is designed to offer an intimate setting of streets, squares and open spaces. The district is located in close proximity to green spaces and will benefit from easy access to public transport with two new Metro stations scheduled to open in neighbouring districts in 2019 and the relocation of Enghave station (now Carlsberg station) to a more ideal location in the south-eastern part of the district. Overall, the master plan adopted for this 25-hectare area allows for the construction of some 3,100 residential units, in addition to commercial space, including the 55,000 sqm Campus Carlsberg of university college UCC. So far, demand for housing in the district has been exceptionally strong, with prospective buyers camping overnight to secure one of the commonhold units offered in off-plan sales.

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Copenhagen Property Market Report 2018

Discover Nordhavn

Nordhavn The Nordhavn district comprises the Østre Gasværk site, Søndre Frihavn, Marmormolen and Nordhavn (the north harbour) itself, which enjoys an attractive waterfront location just north of the Copenhagen city centre with easy access to Nordhavn station. In the past, Nordhavn was predominantly home to a large part of the city’s harbour-related industries, but today they only take up roughly half of the area. Since redevelopment start, the harbour areas of Søndre Frihavn have evolved into an attractive maritime city district offering residential and office space. Next follows the redevelopment of Nordhavn and Marmormolen, where the UN has centralised its Danish head-office activities. The plan is for Nordhavn to become a densely built and sustainable city district where construction on the waterfront will serve to maintain a maritime ambience. Infrastructure is deemed essential for the development of the area, which will be linked to the Copenhagen Metro grid in 2019.

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Copenhagen Property Market Report 2018

Furthermore, the road of Nordhavnsvej opened in 2017, providing swift access to the regional road grid.

With 3.6 million sqm in total scheduled for completion in multiple stages, the scale of the Nordhavn development area is massive. Fully developed, the area may accommodate more than 40,000 residents and some 40,000 workplaces. The Nordhavn district includes Århusgadekvarteret, which is expected to be fully developed in a couple of years or so. In addition, the artificial island of Kronløbsøen and Redmolen will come into play as new residential development areas after the opening of the new Metro station in 2019. Amager Strandpark After a longer transition from a predominantly industrial location to an attractive new residential district, the eastern part of the island of Amager has undergone a remarkable transformation. As a result, this part of Amager today appeals even to those who in the past would never even consider becoming residents. Located along the coastline, this area has been successful in offering attractive dwellings nestled between the modern beach area of Amager Strandpark to the east and the Copenhagen Metro line to the west. Islands Brygge Syd Located next to the densely populated and established Islands Brygge district, Islands Brygge Syd will comprise 190,000 sqm floorspace when fully developed, with 26,000–52,000 sqm designated for commercial use. The area is to include 1,600–1,800 residential units in multifamily and terraced houses. A new school with planned completion around 2020 is also underway. Tuborg Syd Located in Hellerup just north of Copenhagen, the Tuborg Syd district will hold some 53,000 sqm residential space, distributed on 300–400 units, when fully developed. The area is expected to fetch some of the highest residential prices in Denmark, in fierce competition with Nordhavn only two kilometres from the site. North of Amager Strandpark, the former industrial area along Strandlodsvej and Ved Amagerbanen is also under redevelopment.

Marmorbyen, Copenhagen