Organizational changes and an increased strategic focus on supplementing the commercial real estate portfolio with the development and operation of residential properties contributed to Stensdal Group's best result ever in the spring.
With a balance sheet that increased from DKK 921 million to DKK 1,123.5 million and a very strong equity ratio of 45.80%, the real estate group is now further increasing its growth ambitions. The intention is to develop the residential segment into a supporting element of the group on an equal footing with the group's commercial portfolio. As the commercial portfolio is continuously expanded, partly through the development of existing properties, partly through acquisitions and partly through new construction to the portfolio, the Group's balance sheet is expected to reach DKK 3 billion over the next few years. In this connection, additional competencies have now been added to the existing project development team, including former EcoVillage Development Director John Haldbæk, who will seek out and implement development projects in the residential segment in close collaboration with CEO Søren Stensdal.
Increased focus on development projects
"There is considerable interest in the townhouses in Ammendrup Park, and even though we will not complete the final stage of construction until the summer of 2023, more than 90% of the 142 townhouses have already been leased. Ammendrup Park is an excellent benchmark for all future residential property projects. That is why we are now looking for larger areas where we can expand our portfolio. Right now, we are working on a local plan for a 40,000 sqm building site in Favrholm in Hillerød, and just a stone's throw away, we have Hestehaven with a further 20,000 sqm building site. With these two sites, we clearly have a solid foundation for project development, but we need to be more proactive in finding new projects. That is why we have added more expertise to the project development team, which will help us achieve our ambition of tripling our balance sheet," explains Stensdal Group CEO Søren Stensdal.
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