Project Grønttårnet

Project Grønttårnet

The most prominent construction schemes are Uptown Nørrebro (36,000 sqm) developed by domestic pension fund Danica, the development of Kaktustårnene (16,000 sqm) at Kalvebod Brygge and the new student housing complex at Nimbusparken in Frederiksberg (13,000 sqm), see visualisations to the right. Sales references As the subject property, Grønttårnet, will be divided into commonhold units, the individual units can be divested in the ownership market. Five years after completion, the divestment of the units in the property becomes VAT-exempt, and a divestment strategy may prove profitable. Please find below sales references for residential units of comparable sizes. The references stem from a development project in the Grønttorvet area. In terms of quality and location, the references are deemed comparable to Grønttårnet. The average size of the units in Grønttårnet is however significantly lower. As a result, Grønttorvet will no doubt command higher achievable sqm prices, also when taking into account the unique features and views of this 18-storey tower construction.

Left to right: Nimbusparken 1, Kaktustårnene, Uptown Nørrebro.

Rent levels, student housing

Student housing name

Location

GLA (sqm) Annual rent

(DKK per sqm) 1,900 - 2,250 1,950 - 2,300 2,000 - 2,050 1,750 - 2,050

Teglholmsgade 36* Søndre Fasanvej 90*

Copenhagen SV

35 - 43 44 - 52 24 - 27 35 - 58

Valby

Bispebjerg Kollegiet*** Copenhagen SV

Ved Mønten**

Copenhagen SV

Sources: www.kollegierne.dk and Sadolin & Albæk NOTES: * Most recent lets dating from 2017. ** Re-lets in 2016. *** Quoted on website www.kollegierne.dk

Market comparables, ownership housing (small units) Address Floor Price (DKK)

GLA (sqm)

Price (DKK per sqm)

Construction year

Status

Paradisæblevej 82 Paradisæblevej 82 Paradisæblevej 82 Paradisæblevej 82

Ground

2,395,000 2,425,000 2,475,000 2,525,000

65 64 64 64

36,846

2018 2018 2018 2018

For sale For sale For sale For sale

1st

37,891

2nd

38,672 39,453

3rd

Source: Boliga.dk

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