The property will consist of a mix of studio, 1-bed and 2-bed apartments - each fully fitted with kitchen space, bathrooms and decorated with a customized FF&E (furniture, fixtures & equipment) concept to offer high quality and a timeless feel with clear references to the Danish design tradition. In the basement, the development will have a full wellness area complete with sauna, cold showers, soaking tubs, gym and treatment room. In the ground floor there will be apartments with private gardens, a foyer, a shared workspace and meeting rooms for residents and guests to use on request. The general philosophy behind the general layout and concept is to create a holistic experience where guests and residents can combine health / wellness, living and working under one roof. 

Movinn and AG Gruppen share a clear vision for sustainable property development and sustainable property operations, meaning the property will be constructed to obtain a certification under the DGBN rating system. Different sustainable features will be prioritized in the project; large solar panel systems on the roof being one tangible example. 

The property lease and operations will be placed in a separate subsidiary fully owned by Movinn A/S and the commercial launch date is expected to be in late 2025 / early 2026. The master lease agreement is conditional on AG Gruppen divesting the project.

This master lease agreement will not have any financial impact for Movinn in 2023 and 2024. A more precise timeline and launch date of the property will be communicated when the project is further into its construction phase. Measured in 2023-prices, the project is projected to generate annual revenues in the range of 20,0 - 22,0 mDKK and realize an EBITDA in the range of 3,0 - 5,0 mDKK. 

Movinn CEO, Patrick Blok states:

“Completing a deal of this caliber ticks a lot of strategic boxes for us, so I am happy with the outcome. We are adding nearly a hundred new units in a key, established market. We expect to leverage existing operating synergies, tap into new client segments, enhance efficiency and introduce a high quality product and concept. I would like to thank the team at AG Gruppen and the advisors at Nordanö, Accura and Horten for orchestrating a high-quality, professional process. We eagerly anticipate our role in the continued development and operations of this great projekt in the times ahead".