Savills has acted as advisor on the sale of the office property Helseholmen 1 located in Avedøre Holme, Hvidovre, one of the largest commercial and industrial areas in Denmark.
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The property was sold on behalf of Spar Nord at a price of almost DKK 100 million to a group of Danish private investors. The office property Helseholmen 1 currently comprises 12,000 sqm on a 35,000 sqm plot. Anchor tenant in the property is the Danish Building and Property Agency, which uses it for the Danish Armed Forces’ IT services.
The adoption of a new district plan made way for opportunities to expand the building area and allows further development of the property to maximise utilisation of the plot.
Adoption of a new district plan is typically a wide-ranging and lengthy process that involves public enquiry, objection period, and political consideration. Accordingly, the business case was further boosted by the final adoption of the new district plan, which entails that the new owners can realise their plans upon completion of the transaction.
Mikkel Andersen, Partner at Savills Denmark
In continuation, Mikkel Andersen elaborates, the continued demand for commercial property supports the positive development in commercial construction in Greater Copenhagen.
– The Danish employment rate remains high, and the supply of office space is relatively limited. The combination of a strong labour market and a low supply of offices in popular locations continues to make investments in office construction attractive. Especially the larger business parks with ideal infrastructure, such as Avedøre Holme, are attracting a lot of attention from companies looking to relocate to more strategic locations, says Mikkel Andersen.
We are very pleased to have finalised the sale of Helseholmen 1 to the right investors. The process has been handled professionally and the co-operation between the parties involved has been excellent, which resulted in a successful completion of the transaction.
Anders Oluf Kragh, Key accounts Specialised Lending at Spar Nord, concludes
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