Savills Investment Management (Savills IM) has divested two properties in Denmark and the Netherlands. These include a fully let mixed-use property in Copenhagen and a retail park in Tilburg. Both properties belonged to the portfolio of a European retail fund managed by Savills IM.
The “Absalons Gaard” property in Copenhagen was sold to PensionDanmark. The listed building is located directly on the City Hall Square and at the beginning of the Strøget pedestrian zone. It comprises a lettable area of around 7,500 square metres, spread over four floors, and is used for office, retail, and gastronomy. Savills IM was advised by Cushman & Wakefield RED, Bruun & Hjejle, and KPMG on this transaction.
In April, the “AaBe Fabriek” retail park in Tilburg, Netherlands, was sold to Braintown Development B.V. This retail property in the south of the Netherlands offers a total lettable area of over 30,000 square metres, divided into 32 rental units, and is also fully let. This urban redevelopment integrated a former factory hall. The concept of use is geared towards local supply as well as everyday goods and services, complemented by offerings in the home & lifestyle and gastronomy sectors. Anchor tenants include a discount food retailer and a full-range supermarket. Savills IM was advised by Cushman & Wakefield, Brikks, and Dentons in this transaction.
The disposals were carried out as planned in accordance with the respective business plans after a holding period of more than ten years. Confidentiality was agreed upon regarding the sale prices. Helmut Jahn, Portfolio Manager Investment at Savills IM, emphasised that the two sales underscore the continued demand for strategically well-positioned retail properties. He stated that “Absalons Gaard” was a fully let landmark property in a prominent location in Copenhagen and that the retail park in Tilburg had developed positively during the holding period. Both properties had offered investors a combination of stable income and sustainable value appreciation.
Kathrin Michalzik, Head of Fund Management Germany at Savills IM, added that, in addition to successful sales, the company remains active in acquisitions. For the European Food Retail Fund, Savills IM is specifically seeking high-quality local supply properties. Furthermore, the company invests in the living, logistics, and selected core office sectors for various funds and mandates. The focus is on markets in Germany and Europe with positive economic and demographic development, as well as on modern properties with high sustainability standards.
