Locations descriptions.Office

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Copenhagen Property Market Report 2018

successful initiative. With supply ranging from single offices to large-scale office premises, activity has picked up in the business park and been fairly constant in recent years. (7) Birkerød/Allerød Located some 25 kilometres northwest of Copenhagen, the district of Birkerød/Allerød includes several large-scale office areas of diverse quality, ranging from the obsolete to the more up-to-date. Some of the older office buildings served as ancillary office units in connection with industrial facilities. This property type has seen a decrease in demand over the past years as businesses have zoomed in on space-efficient and flexible premises. Despite being connected to the S-train grid at Allerød and Birkerød stations, access to public transport is deemed less than ideal vis-à-vis the office areas in the district. Previously preferred by the IT sector, the district is therefore typically discarded because of its lack of high-quality, space-efficient office premises close to public transport. As a result, vacancy rates have started to climb, driving down prime and secondary rent levels alike. The district is facing increased competition from alternative locations closer to Copenhagen with superior accessibility and this has limited letting activity despite the availability of relatively up-to-date premises. (8) Herlev/Ballerup The Herlev/Ballerup district has long been a preferred location for large- scale companies operating in the high-tech industries or financial services, with the Lautrupvang area attracting a great number of businesses. Tenants in the area include GN Store Nord, Nets, Bluegarden, IBM Danmark and KMD. Furthermore, the district houses the successful World Trade Center (WTC) Ballerup, which is a 17,000 sqm modern business centre offering serviced offices. Thanks to the synergies of the location, including easy access to customers, skilled labour and varying degrees of knowledge sharing, Lautrupvang has attracted also international newcomers operating in the high-tech industries. The less established office locations in the district have a relatively old building stock, constructed mainly in 1970–1990, and like in other suburban office locations, offices are commonly laid out as ancillary offices with adjoining industrial facilities. Due to the inflexible layout of most premises as well as limited remodelling options, these locations suffer from weakening