Copenhagen is one of the few cities in Europe that still offers
a broad range of central location opportunities for companies. For
more than a decade, the industrial sector has been undergoing a
transition from traditional production to high-tech industry. This
has freed space in areas near the city centre and in the industrial
areas west of Copenhagen. Development projects are creating or
regenerating attractive areas in and around the city centre, and
substantial land available for development outside the city makes
Copenhagen a unique metropolitan city.
Office property market
Office vacancy rates are currently about 7.6% (2004), which is
low in an international context. Rent levels vary from EUR 100 per
sqm p.a. to EUR 225 per sqm p.a. exclusive of operating costs. The
rent levels give ample opportunities to find a location suitable
for your company whatever cost quality trade-off you are searching
for.
The Central Business District, Location Airport and Location
Ørestad are the most expensive areas in the region. Prime rent
levels in the Central Business District are in the range of EUR 135
- 225 per sqm p.a., exclusive of operating costs (2004).
Office rents outside the Central Business District are in the
range of EUR 100 - 160 per sqm p.a., exclusive of operating costs,
and become lower the further you move away from the inner city
area. This means that rents are generally lower in Location Køge,
Location Roskilde, Location Frederiksborg, Location Hillerød, and
Location Helsingør than in the central areas of the city.
Furthermore, Copenhagen South/West tends to be less expensive than
Copenhagen North.
Compared to other European cities, Copenhagen offers attractive
office locations at very competitive rent levels.
Total occupational costs* in EUR per sqm p.a. for prime office
space in selected European cities
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* "Total occupational costs" reflect all occupancy costs and
therefore correspond to "gross" rents.
Source: CB Richard Ellis, "Global Market Rents - January 2004"
Industrial Property Market:
Vacancy rates in the industrial property market is currently
some 4.2% - or almost twice as high as 2001 vacancy rates. Current
prime industrial rent levels are around EUR 65 - 70 per sqm p.a.,
exclusive of operating costs, while secondary industrial rent
levels are some EUR 45 - 50.
Sources: CB Richard Ellis (2004) and Sadolin & Albæk
(2004)
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