Danish investors to lead 567,000 m² development of Carlsberg City site in record €335 mln. deal (DK)

A consortium of Danish investors has acquired the former Carlsberg brewery site in central Copenhagen in a transaction valued at approx. DKK 2.5 billion (€335 million). The consortium comprises Realdania (25%), Carlsberg (25%), PFA Pension (20%), PenSam (15%), and Topdanmark (15%). This concludes the largest Danish development transaction in history and what promises to be one of Europe's most significant development projects.

The transaction includes a site area of 250,000 m², attractively situated on the border of the Copenhagen city center. The site's history, location and size presents an attractive opportunity to create a new city district, 'Carlsberg City' (in Danish: 'Carlsberg Byen'), where Danish industrial history meets the modern life of the big city. Carlsberg City will be developed into one of the most attractive parts of Copenhagen.

The total development floor area will cover 567,000 m² floor area, offering a mix of commercial, residential and cultural areas. A number of buildings worthy of preservation will be refurbished, thereby ensuring the preservation of the old brewery's unique 160-year heritage.

In addition, more than 500,000 m² buildings will be erected, including nine slim high-rise towers of up to 120 meters which will stand as markers for Carlsberg City and offer excellent views of Greater Copenhagen and Southern Sweden.

Copenhagen is experiencing continued long term population growth, a factor which supports the contemplated approx. 3,000 residential units to be erected. In accordance with the consortium's ambition for sustainability in a broad sense, the units will be offered in a variety of forms, from student housing to penthouse flats.

The development is based on a master plan by Danish architectural firm, Entasis, which won first prize in the world's largest architectural competition, the World Architecture Festival.

Carlsberg Byen is already experiencing strong interest from the investor and occupier markets, with several projects already presold and construction of other significant developments expected to be initiated shortly.

The investment in Carlsberg City fits the long term investment profiles of the consortium investors who expect to generate attractive returns on their investments over the contemplated development period of approx. 15 years.

Source: Carlsberg

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