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24 June 2009

M. Goldschmidt Ejendomme defies property market crisis

Within a short period of time, M. Goldschmidt Ejendomme has signed lease agreements with DONG Energy A/S and Imerco A/S for a total of approximately 10,000 sqm, defying the downturn currently characterising the business lease market.

In late 2008, M. Goldschmidt Ejendommme A/S acquired the business property at Linde Allé 5-9 in Nærum north of Copenhagen from Sjælsø Gruppen. The property totals 16,000 sqm of which only half was let at the acquisition date. M. Goldschmidt has now concluded a lease agreement with DONG Energy A/S who will lease 6,500 sqm office spaces and the property is thus fully let.

The Nærum property has been in the hands of M. Goldschmidt Ejendomme A/S since the end of 2008 when it was acquired from Sjælsø Gruppen in a transaction which also included a newly established REMA 1000 store located in the Danish Broadcasting Corporation’s former premises in Søborg near Copenhagen.

- We acquired the Nærum property at the worst possible time of the financial crisis. In a difficult market, we have now managed to let the vacant part of the property to an attractive tenant. This shows that we still know our business and that it is still possible to remain active in the property market in spite of the crisis, says Mikael Goldschmidt, CEO of M. Goldschmidt Holding A/S.

The property at Linde Allé 5-9 was designed by architect Ole Hagen for Brüel & Kjær in 1988, and for a number of years, it served as that company’s headquarters. It is a property of high standards with a roof ridge. The windows are placed in a manner which will make the beautiful surroundings of protected lime trees and green areas part of the future work environment for the DONG employees. The property is situated in the Municipality of Rudersdal in peaceful surroundings although still close to the motorway and public transportation. The property is now let to DONG Energy who can arrange the premises with large conference rooms, small quiet rooms or open offices at their own discretion. A roof ridge and no pillars on the 2nd floor create a fantastic feeling of space, and skylights contribute to a lovely, bright work environment. In addition, the property has a bright cafeteria area.

Moreover, M. Goldschmidt Ejendomme has leased 2,400 sqm of its business property at Smedeholm 16-18 in the Copenhagen suburb of Herlev to Denmark’s largest hardware chain, Imerco A/S. The group has just set up its headquarters in the premises which previously housed the offices and production facilities of a large office furniture company.

Imerco currently resides in Taastrup west of Copenhagen, but they have outgrown their current premises. For some time now, the company has been looking for new attractive premises in which to set up its new organisation. At present, they are relocating their activities to the new premises in Herlev. According to Imerco’s CEO, Ib Berntsen, the relocation is also spurred on by a wish to improve the physical environment for the approximately 40 employees working at the headquarters.

- We will have around twice as much space as we have had until now, which means that we will finally have the office and meeting facilities we have been looking for as the headquarters of 155 hardware stores. We will also have enough space to set up a small Imerco shop allowing us to develop our product range and presentation more efficiently, Ib Berntsen says.

The premises at Linde Alle 5-9 in Nærum, acquired by M. Goldschmidt Ejendomme A/S at the end of 2008 and now home to DONG Energy A/S among others. (Photo by Peter Nørby)

The premises at Smedeholm 16-18 in Herlev, refurbished for Imerco, as they look today – before the some 40 Imerco HQ employees and a small Imerco shop move in. (Photo by Peter Nørby)

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