DEVELOPMENT CASE

This property is located in the heart of Copenhagen, 200 metres from Nørreport Station and Købmagergade and next to HC Ørsteds Parken. The area, which is a mixed urban area with residential properties, shops and offices, has prospered after the completion of the Nørreport Metro Station, and the market halls on the site next to Vendersgade in 2008/2009.

The property houses one of Copenhagen’s largest car parks with more than 1,350 parking spaces in three underground parking levels. The car park serves a growing number of customers due to the increasing traffic in central Copenhagen.

Properties continuously seeks to maximise the property value through assessment of alternative use of the parking facility outside of peak hours (e.g, weekends).

With the development of TorveHallerne, the parking facility will connected underground with the Metro Station with access through the underground part of TorveHallerne.

At the same time, the City of Copenhagen has decided - with financial support from a private donor - to invest DKK 50-60 million in revitalizing the square. The process will include a more direct connection between the square and the adjacent park as well as a chance in the access and departure from the parking facility in order to facilitate the new face of the square. The new access will be moved closer to the main traffic roads and the visibility and signing of the parking facility will be significantly enhanced

The plan for Commerce, through ParkCity, is to extend the parking activities by car-related commercial activities, such as car care services, sale of car accessories and car hire.

www.parkcity.dk