Savills advises Aberdeen Standard Investment on sale of a prime retail block in Copenhagen for DKK 565m

International real estate advisor Savills has advised Aberdeen Standard Investment on the sale of a prime retail block in central Copenhagen to German fund manager Aachener GRUNDVERMÖGEN for DKK 565 Million.

The asset located at 45-47 Købmagergade is situated in Copenhagen’s prime retail district, and is currently let to international “best of high street” brands: Calvin Klein, JD Sports, H&M and Message. The asset includes a component of residential usages on the upper floors.

Since 1973 Aachener Grundvermögen has been acquiring properties centrally located in the major cities of Germany, Austria, Switzerland and the Netherlands. With the acquisition of this retail block in central Copenhagen, this is Aachener Grundvermögen’s first entry into the Danish property market. Its investment strategy is long-term and is looking to build its Danish portfolio through additional acquisitions. 

Oli Fraser Looen, Head of Cross Border Retail Investment, Savills comments: “We are delighted to conclude this sale for our clients who yet again have delivered a product that attracted a great depth of interest from global investors. In a similar manner to the sale of 3 Købmagergade which we concluded earlier in the year, Aberdeen Standard have been market leading in their market entry, product creation  and well timed exit.”