The office property Struenseegården in the popular Copenhagen district Nørrebro has changed hands. For two generations the property has been family-owned.
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The family has now decided to sell the property to a professional and long-term investor. The buyer is the pension fund P+, Pensionskassen for Akademikere that will develop and operate the property in the future.
The property, which now contains approx. 12,000 sqm office space, was originally a factory building constructed in three phases between 1895 and 1948. Struenseegården is a characteristic, older classic city property with a clear presence of history. The quality of the property is excellent as the industrial characteristics have been preserved, including the high-ceilinged rooms, which are kept in a raw modern New York look. With its location in the vibrant Nørrebro, the property has an interesting location where shops, cafés and inviting meeting points are located side by side.
A property of this character, where the location and volume are an ideal match and where you can expect a long-term stable cash flow, but where there is also excellent development potential in the property, is extremely attractive to many investors in the market. So it is not without reason that investor interest has been both broad and intensified.
Jacob Lund, CEO and partner
Among other things, P+ has emphasised that the acquisition of Struenseegården is a central part of their strategy to increase the share of alternative investments in real estate. For P+, Struenseegården is a long-term investment that will help facilitate their wish to contribute to the future development of the surrounding area. Consistent with the ambitions of the pension fund, the seller emphasised the importance of finding a strong buyer with the necessary resources to develop and continue operations of the property for the benefit of the property's loyal tenants and the local community. Taking part in a sustainable development of the local area over time is accordingly a shared ambition for both buyer and seller of Struenseegården.
-Via our extensive investor network, we were fairly quickly able to identify which investors would potentially be interested in this type of property, including that the property was a good match for investors looking for development properties. Strongly supported by solid data, we outlined a business case to document that the property represented several value potentials, which was communicated to the potential buyers, says Jacob Lund.
In recent years, the company has experienced a continuous sound investment activity concerning attractive office properties in Copenhagen. This transaction confirms that the demand for office properties with a large investment volume remains high.
Finally, the good cooperation between the parties involved is emphasised, including on the seller's side the law firms Horten and Samar Law and on the buyer's side the property manager Capital Investment and the law firm Bruun & Hjejle. We congratulate the parties.
