Residential_Locations_MR2020

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OFFICE HOTEL RETAIL INDUSTRIAL REGIONS RESIDENTIAL

Copenhagen Residential

LOCATION DESCRIPTIONS

Published by Colliers. Reproduction or citation only with acknowledgement of source. This is an online addition to The Copenhagen Market Report 2020, based on market data that we believe are reliable. Please note that the rental prices quoted may reflect data inconsistencies compared to the respective pre-merger (July 2018) databases of Colliers and/or Sadolin & Albæk. Whilst every effort has been made to ensure that the information provided in the report is both accurate and complete, Colliers accepts no liability for factual errors.

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Location descriptions | Residential – Market Report 2020

Residential development areas Copenhagen

Teglholmen, Copenhagen SV

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 sq m floor space, with commercial uses accounting for 50%, residential for 40% and cultural facilities, services, retail trade and institutions for the residual 10%. This even- tually translates into some 80,000 workplaces and more than 25,000 residents. Some 13,000 people already live in Ørestad. Ørestad is divided into distinctive sub-districts, Ørestad Nord, Ørestad City and Ørestad Syd (South). The next stages in the develop- ment of Ørestad are Bellakvarter (Ørestad City) and Ørestad Syd. The residential areas of Bellakvarter and Ørestad Syd are scheduled for completion in 2024 and 2025, respec- tively. 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

Tuborg Syd

Nordhavn

Østerbro

OFFICE HOTEL RETAIL INDUSTRIAL REGIONS RESIDENTIAL

Brønshøj

Nørrebro

Copenhagen city centre

Frederiksberg

Amager Strandpark

Vesterbro

Carlsberg

Islands Brygge Syd

Valby

Amager

Sydhavnen

Hvidovre

Ørestad

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Location descriptions | Residential – Market Report 2020

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 residen- tial newbuilding activity in recent years. Sydhavnen will benefit from the Metro exten- sion scheduled for commissioning in 2023, improving access to the area. In 2018, the new bridge of Alfred Nobels Bro, connecting Teglholmen and Enghave Brygge, opened for pedestrians/cyclists. In 2024, it is to open for car traffic as well, effectively linking Sluseholmen to the south with Kalvebod Brygge to the north.

Most of the district will likely be fully developed within the next 5 years.

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 sq m 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 sq m public park.

Carlsbergbyen, Copenhagen

Location descriptions | Residential – Market Report 2020

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At the former site of F.L. Smidth, the redevelopment of the Valby Have allotment society continues. With the first stages of conversion for residential use completed in 2005– 2010, the remaining stages are expected to be completed by end-2020. When fully devel- oped, the area will contain some 1,200 dwellings and 35,000 sq m commercial space. In the southern part of Valby, Valby Syd, a large-scale conversion scheme has trans- formed industrial areas into attractive retail and office spaces. This has attracted several shops and firms operating in the service sector, including several government agen- cies, 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 loca- tion, 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 provi- sions 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 benefits from easy access to public transport with two new metro stations recently opening in neighbouring districts and the relocation of Enghave station (now Carlsberg station) to a more ideal location in the south-eastern part of the district.

Nordhavn, Copenhagen

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Location descriptions | Residential – Market Report 2020

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 sq m 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. 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-re- lated 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 March/April 2020. Furthermore, the road of Nordhavnsvej opened in 2017, providing swift access to the regional road grid.

Bellakvarter, Ørestad

Location descriptions | Residential – Market Report 2020

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With 3.6 million sq m 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 devel- oped in 2021. 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 2020. 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 remark- able 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 sq m floorspace when fully developed, with 11,000 sq m 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 sq m residential space, distributed on some 330 units, when fully developed in 2023. 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.