Scottish investor buys third of retail space in Carlsbeg City

Aberdeen Asset Management purchases 7,250 sqm of properties

The Scottish capital fund Aberdeen Asset Management has bought 20 properties – a total of 7,250 sqm – in the retail area of the new district of Carlsberg Byen (Carlsberg City) in Copenhagen.

The parties did not wish to disclose the sales price.

The purchased stores make up a third of the planned retail zone in the district, which also includes 32 apartments that have been built during the first stage of the development project.

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A total of 500 housing units will be built in the zone under the current local plan, and more shops and restaurants will be added during the next stage in 2019-2020.

When finished (sometime in 2024), the entire Carlsberg Byen will spread across 600,000 sq metres and offer 3,000 new apartments.

The total cost of the development of the old district is estimated to reach 14-16 billion kroner, according to Jens Nyhus, the CEO of Carlsberg Byen.

The project is financed by Carlsberg, Realdania, PFA, Topdanmark and Pensam.