Locations descriptions.Office

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Copenhagen Property Market Report 2018

which further dampens demand. However, this may be remedied when the Metro CityRingen, scheduled for commissioning in 2019, will include several new stations at Østerbro. Nordhavn Currently under development, the vibrant and prestigious new city district of Nordhavn houses several financial businesses and law firms, valuing the up-to-date, space-efficient and flexible office premises in the area and its ample parking facilities. With its proximity to the city centre and attractive waterfront location, Nordhavn is on the brink of becoming an extension of the existing Copenhagen CBD in competition with Kalvebod Brygge and Tuborg Nord further north. The district benefits from proximity to Nordhavn S-train station, and with two Metro stations opening in 2019, access to the entire Greater Copenhagen area will improve. In addition, the now Nordhavnsvej has improved access to the northern part of the motorway grid. Nordhavn is home to spectacular office buildings such as the highly sought- after Portland Towers, but the inner areas around Sundkrogsgade have been prone to some vacancy, with a combination of high rent levels and significant construction activity somewhat dampening demand. Commercial development will continue to be slow as no additional sites will be put up for sale until the Metro line is finished in 2019. However, domestic institutional PFA Pension owns several parcels of land on the easternmost peninsula of Redmolen, where construction is expected to commence in 2018. (2) Nørrebro Situated north-west of the CBD, Nørrebro is first and foremost a mixed-use residential and retail district rather than a characteristic office area as the office premises in the district are of diverse quality with no distinctive office clusters or centres. When it comes to parking, Nørrebro faces some of the same challenges as other Copenhagen city districts as parking is fairly scarce considering the density of the area. Apart from Nørrebro S-train station, public transport services in the district are today largely limited to bus services. However, Nørrebro will become part of the Metro CityRingen, which will improve accessibility. While office premises generally fail to meet today’s tenant requirements, Nørrebro appeals to many small and medium-sized creative businesses, including office users in the media and music industries.

Nyhavn 63A-D, Copenhagen K

The office investment property market continues to thrive as current economic growth is supporting recovery in the occupational market.