Wihlborgs sells housing development rights outside Copenhagen

Wihlborgs has sold the housing development rights for the Vasekaer 7 property in the Hørkær area in Herlev Municipality northwest of Copenhagen. The rights comprise a GFA of 18,500 square metres and were sold in October to a joint venture of Nordkranen and Catella for DKK 72.5 million. The sale aims to provide Hørkær with the prerequisites to continue its transformation from a classical industrial area into a modern and multifunctional urban district with housing and businesses.

Wihlborgs has owned Vasekaer 7 since 2007 and a new detailed development plan for housing was approved in 2021. Wihlborgs is now selling the development rights to enable the property developers to add housing to the area and boost densification.

With its proximity to the motorway network and Herlev station, Hørkær is one of the most sought-after business districts in Herlev. Wihlborgs is well represented in the area and continues to see considerable potential there.

“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,” says Ulrika Hallengren, CEO of Wihlborgs.

“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”, says Søren Holm, CEO of Wihlborgs A/S.

Wihlborgs Fastigheter AB (publ)