The properties currently cover 4,200 sq m and are located in the heart of Denmark’s capital, Copenhagen. Current tenants include international retailer H&M Group, which occupies the whole of Frederiksberggade 38. Standard Life Investments plans to invest in a comprehensive repositioning of the other properties over the next three years, including a significant development in Frederiksberggade 38 to create an additional 3,000 sq m of space. This will increase the total potential leasing area of the buildings to 7,200 sq m.
 
Standard Life Investments recently completed the final closing of Euro Club III, hitting the vehicle’s EUR 300M equity raise limit.
 
Standard Life Investments is one of the most significant non-domestic real estate investors in Denmark and has committed around EUR 500M to the country since 2013. The team’s strategy in the country is focussed on investing in high quality properties with the potential for further enhancement through smart asset management in core locations such as Copenhagen.
 
Daniel McHugh, Head of Continental European Real Estate, Standard Life Investments, and Fund Manager for all three Euro Clubs said: “Acquiring these quality assets reflects our strategy of targeting prime commercial property in core European markets, including Denmark. The scope for active asset management and enhancement of these properties will create a strong income stream and returns for investors.”
 
Capital Investment advised Standard Life Investments and JLL acted for the vendor.