Wihlborgs has completed the sale of the housing development rights for the Vasekaer 7 property in Hørkær, Herlev Municipality, Denmark.
The transaction is a strategic move to provide the Hørkær area with the necessary infrastructure to continue its transformation from an industrial to an urban residential and business district.
The Hørkær district, known for its business-friendly environment, has proximity to major transport links, including the motorway network and Herlev station.
Wihlborgs A/S CEO Søren Holm said: “In several places, we are working to create attractive and mixed districts, with homes and businesses side by side. The sale of Vasekær 7 is the first in a series of residential building rights that are close to our commercial properties.
"When the project is finished, it will contribute to the positive development of the Hørkær area, which is an important business area for us. We look forward to following the area's transformation and to continuing our commitment to developing the urban districts of the future.”
The rights, encompassing a gross floor area (GFA) of 18,500m², were acquired by a joint venture (JV) between Nordkranen and Catella for DKr72.5m ($10.9m) this month.
Wihlborgs has been the owner of Vasekaer 7 since 2007 and following the approval of a new detailed development plan for housing in 2021, the company has decided to sell the development rights to facilitate the addition of housing and contribute to the area's densification.
Wihlborgs CEO Ulrika Hallengren said: “The sale of these development rights will transform a vacant site into housing and stimulate variation and life in the area, which will positively impact our operations and the municipality as a whole.
"Wihlborgs believes in the potential of continuing to develop attractive urban districts in Denmark and sees many opportunities for densification in its Danish portfolio.”
In addition to its activities in Hørkær, Wihlborgs is also engaged in the construction of a new facility for Dachser, a German logistics company, in Landskrona, Sweden. This project includes a cross-dock terminal, a logistics warehouse, and offices, with occupancy expected by the end of 2024.
