Stensdal Group kicks off 2024 by entering into an agreement with Tryg Real Estate Invest Denmark A/S to purchase the property Lundtoftegårdsvej 95-97 in Kongens Lyngby. Traditionally, the real estate group has focused on commercial properties in the Copenhagen area and primarily Vestegnen, but with the newly acquired property in Lyngby, which will be taken over on March 1, 2024, the real estate group not only emphasizes its continued ambitions to expand the property portfolio. The geographical focus has evolved and is moving closer to Copenhagen.
With the acquisition of Lundtoftegårdsvej 95-97, Stensdal Group can add a total building area of 7,970 m2 to its existing portfolio. The property is located on a 10,651 m2 plot, and upon acquisition, the property will be largely free of tenants. CEO, Søren Stensdal welcomes the acquisition and says:
"We are extremely pleased to be able to expand our portfolio with this fine property, which fits perfectly with our concept, where we target properties that suffer from vacancy and need updating and modernization to be truly rentable. Our strength is that we have all functions in-house, along with strong capital resources, so we can act quickly and ensure a serious and efficient process for the seller. In addition, we invest significantly in our properties - even before we find tenants - so we always have some of the most attractive spaces in the market."
The property's potential must shine through
The property, which boasts energy label A2010, appears energy-efficient and with good structural qualities, and the updates of the property at takeover are therefore limited. Upon takeover, the planned update of the property is covered by an optimization of the property's facade and building envelope. Inside, the staircases and the vacant leases will also be modernized and furnished with open space office areas and glass partitions in Stensdal Group's usual aesthetic and modern style. Basically, the property is very regular and many existing materials are expected to live on in the property, which is why the required property update is relatively limited in order to meet the needs of the market. The real estate group is pleased with the property's high energy label, as this goes well with Stensdal Group's ESG efforts and strong focus on energy renovation.
The property's outdoor areas also include a retention basin for rainwater drainage. In addition to the rainwater basin's primary purpose of retaining rainwater, Stensdal Group also has ambitions to look into the possibility of planting plants and wild nature around the rainwater basin, which in combination with a wetland will contribute to better conditions for biodiversity in the area.
A property and location with special attractiveness
With the property's attractive location, Stensdal Group also expects that this will increase interest from future tenants and their employees. Here, the workplace is close to the Helsingør motorway, and as a tenant in the property, you can also look forward to the Greater Copenhagen Light Rail, which from 2025 will have a station less than 100 meters from the property.
Lars Vestergaard Olsen, Property Director at Stensdal Group, has handled the purchase process for the property group and is looking forward to getting started with the work:
"Overall, we can offer approx. 5,000 m2 of office space and approx. 2,000 m2 of regular warehouse space in a highly sought-after location in Lyngby. We look forward to getting started with an exciting process in connection with both the update of the property and the leasing work. We are already in dialogue with several potential tenants, and we expect great interest in the leases in the property."
The seller has been represented by CBRE and Bruun & Hjejle, while Stensdal Group has conducted the due diligence itself and has been assisted by lawyer Jens Jacob Dühr from Ideal Advokater.