NCC Sells Office Project in Copenhagen
Denmark NCC is divesting the Flintholm II office project, the head office of the consultancy EY in Copenhagen, to the German real estate asset manager Deka Immobilien for approximately SEK 460 million (EUR 43 million).
The project is in Frederiksberg, an area in Copenhagen where NCC has developed and is constructing a new head office for the consultancy EY.
“We have developed a unique head office project in Flintholm in close collaboration with our tenant EY, which will move into a new, attractive head office later this year. We are delighted that Deka Immobilien chose to acquire the project, which is in an exciting development area in Copenhagen,” says Ole Faurby, Head of NCC Property Development Denmark.
The office encompasses approximately 9,800 square meters of leasable space, with about 160 parking spaces, and is expected to be completed in November 2019.
Deka Immobilien acquires the project for an underlying property value of approximately SEK 460 million. The letting ratio is 100 percent. The divestment is expected to have a positive impact on earnings in the fourth quarter of 2019 for the business area NCC Property Development.
The intention is to certify the project in the international DGNB Certification Systems gold category for sustainability. NCC’s objective is to minimize the environmental impact and add value for customers and society with environmentally certified buildings, attractive workplaces and inclusive urban environments.