Aarhus-based investor group sells large logistics property in Sorø for a DKK triple-digit million sum
A logistics property at Kirkebjergvej 17 in Sorø on a large plot of over 90,000 m² with the possibility of future expansion has just been sold. Ole Blegvad, one of six partners in K/S Sorø who sold the property, says on behalf of the Aarhus-based sellers:
“We have owned the property since its construction in 2008, and we had no immediate plans to sell the logistics property, as we have been very happy with the investment and the cooperation with Multiline as tenant. They initially had 15,000 m² of space, but wanted to expand by a further 15,000 m², which we have expanded over the past year. This means that they now have a total of almost 30,000 m², and when the expansion was finalised, they signed a new, long-term lease.”
“It’s a highly attractive property in a well-established business area with a short distance to the motorway – and a good, stable tenant on a long-term lease. As it is currently a favourable market for industrial, warehouse and logistics properties, together with EDC Erhverv Poul Erik Bech we investigated the possibilities of selling the logistics property. We were happy and satisfied with the property, so we were only interested in selling if we achieved a satisfactory sales price. That’s why we ultimately chose to sell, and it has been a great process with our good partners at EDC Erhverv Poul Erik Bech and with the buyer Erla Eiendom and their advisors NCAP Danmark and ABG Project Finance.”
Attractive and future-proof logistics property
The property is fully let on a long-term lease to MultiLine, the Danish trading and distribution company that is part of the international Bunzl Group. The sale was brokered in co-operation between EDC Erhverv Poul Erik Bech in Aarhus, which knows the seller intimately, and EDC International Poul Erik Bech and EDC Poul Erik Bech Research. Daniel Lundholm, EDC Erhverv Poul Erik Bech Aarhus Industri, who brokered the sale, says:
“This is a future-proof and scalable property that meets the market’s requirements for efficient distribution. The property is 29,477 m² with 27,487 m² of warehouse, of which 22,880 m² has a ceiling height of 16 metres, and there are 28 gates with ramps for optimal logistics conditions. The volume of the logistics property with its almost 30,000 m² leased to one tenant is also an investment case that many international investors find interesting. Therefore, it was obvious to bring Helle Nielsen Ziersen from our international department on board. The seller is K/S Sorø, an Aarhus-based group of investors who are good customers here in our business centre in Aarhus and who we have worked with for a long time. We are very pleased that we were able to find a buyer that lives up to their expectations.”
Danish and international interest
Helle Nielsen Ziersen, Head of EDC International Poul Erik Bech, who has helped broker the sale and presented the property to a large number of international investors, says: “There has been good interest among both Danish and international investors, as it is an attractive property. In the end, the buyer was the Norwegian property company Erla Eiendom.”
“The market for warehouse, industrial and logistics properties in Denmark and internationally is characterised by a strong increase in demand. Driven by the growth of e-commerce and intensified interregional trade, for many owners of industrial, warehouse and logistics properties this may be a favourable time to sell. Traffic volumes across the Great Belt are increasing year on year and the Capital Region accounts for approximately 16% of both unloaded and loaded national freight volumes, with West and South Zealand accounting for 70% of this volume. This emphasises Sorø as a strategic location in the Danish logistics corridor, where demand for modern logistics facilities exceeds supply, so it is certainly an attractive area for investors.”
Read more about EDC International Poul Erik Bech and find industrial and logistics properties for sale in Denmark.
