Schroder Real Estate completes acquisition of two office buildings in Copenhagen

Schroder Real Estate announces the completion of its second acquisition in Denmark. The property is a desirable addition to the existing Schroder Real Estate portfolio in the Nordics, it improves geographical diversification and has a solid income profile in a globally attractive and sought after city. In a European comparison, the decline in Denmark’s GDP (due to COVID) is one of the lowest among the major global economies.

The purchase is of two buildings totalling 32,800 sqm of office space and 302 parking spaces located at Gammel Køge Landevej 39 and 45 in Valby. The two buildings were fully refurbished to a high standard in 2019.

The Valby area is an established office submarket and the southern part of Copenhagen. It is currently under redevelopment with the conversion of disused light manufacturing properties into attractive mixed-use residential and commercial premises that maintain their industrial heritage. The introduction of the metro in Valby due to open in 2024, further improves the already excellent connectivity in the area.

Over a 5 year time horizon, current forecasts expect Denmark to be one of the fastest growing economies in Europe making the new acquisition a stabilising asset for the fund in times of economic uncertainty.

Eva Granlund, Head of Real Estate Investments Nordics, commented:  

”We are delighted to announce the first acquisition in Denmark for the Schroder Nordic Real Estate Fund, and our second in Denmark for Schroder Real Estate. The acquisition is an excellent addition to our portfolio and consistent with our investment philosophy of acquiring assets with good fundamentals in attractive locations. We believe now is a good time to acquire properties in Valby given the planned improvements in infrastructure in the future.”

Schroder Nordic Real Estate have partnered with Catella Corporate Finance A/S for the acquisition.