March 18, 2016
Danske Bank sells head office to Standard Life
As part of an ongoing divestment of properties, Danske Bank has entered into an agreement on the sale of the head office buildings at Holmens Kanal in the centre of Copenhagen. The buyer is Standard Life, a life insurance company listed on the London Stock Exchange, and the sales price is DKK 1.4 billion.
Danske Bank will, however, continue to use the buildings as its head office as lessee. The sale will enable Danske Bank to focus on its core activities. The sale of the Holmens Kanal complex, which comprises a total of 14 buildings, is part of a process that includes sale and leaseback agreements previously concluded on head office buildings at Høje Taastrup, Glostrup and Oesterbro in Copenhagen.
"We must align our business with customer demand and ensure a high degree of flexibility in the use of buildings. For this reason, it is no longer expedient for us to have a large property portfolio," says Henrik Ramlau-Hansen, CFO of Danske Bank. "Holmens Kanal has been the centre of Danske Bank since 1875, and we look forward to working with Standard Life".
Holding considerable property portfolios, Standard Life will become the owner of such prominent buildings as Peschier’s Court and Erichsen’s Mansion with the famous columns facing Kongens Nytorv.
"We are in Standard Life very pleased that we have been able to acquire such historic landmark buildings in the centre of Copenhagen. We will with our local partner Capital Investment manage the Holmens Kanal complex with the history in mind," says Daniel McHugh from Standard Life.
Fact about the sale
The sale comprises 14 connected buildings and a parking garage at the addresses Holmens Kanal 2-18, Vingårdsstræde 3, Laksegade 6-8 and 7-11, Asylgade 1 and Bremerholm 37. The complex covers about 37,000 sqm. of office space.
Kenni Leth, Group Press Officer, Danske Bank, tel. +45 45 14 56 83
Jesper Damborg, Partner, Capital Investment A/S, tel. +45 50 50 22 22