Project

Executive summary

An iconic landmark and world-class high-rise in the capital city of Denmark

The landmark will be a world-class and first-of-its-kind 280 m high-rise and theme park that aims to inspire and entertain families, tourists, citizens, etc. with fairy tales and adventures.

The Tower is located in Nordhavn, Copenhagen, with an easy commute by public/private transport and in close proximity to cruise ship terminals. Its great accessibility is ideal for the occupants – from residents, to office staff and conference guests, as well as visitors to the theme park and hotel.

Introduction

Tower

The project includes a green landmark in Copenhagen consisting of an up to 280 m tall multipurpose tower of approx. 98,575 m2 and a surrounding theme park of approx. 30,000 m2, as well as a public park ranging from 20,000-35,000 m2 with free entry and parking facilities.

Additionally, 6,250 m2 of social housing for students and young people will be provided.

Site

The Tower is located in Oceankaj in Nordhavn, easily accessed by public transportation. The site is diamond-shaped with an expected size of 100,000m2; the H.C. Andersen Adventure Tower & Park will occupy 85,000m2 and space allotted for the Metro will be 15,000m2.

Investment opportunity with a balanced risk and return profile

The total project  investment amounts to +DKK 6.5bn, which covers both the tower and the adventure and public park

The project represents an opportunity to invest in a development project with a diversified and balanced risk and return profile

Solid business case which has been benchmarked and evaluated to similar projects

Main elements in the business case have been benchmarked and evaluated to similar projects in order to ensure a solid business case

The tower is expected to be visited by a mix of families, cultural guests, cruise ship tourists, business guests and young couples and friends

Projections on tourism in Copenhagen are positive in the forthcoming years

Program area breakdown

Project overview

The project includes a landmark in Copenhagen consisting of a 280 m multi-purpose tower and a surrounding theme park and public park placed on a site of up to 100,000 m2

Parking
Retail
Offices
Residences
Tower Hotel
Observatory
Restaurants and Skybar
Theme and public park

Parking facilities will amount to approx. 36,000 m2 indoor and outdoor.

The project currently includes 288 parking lots placed below ground level and approx. 1,000 parking lots in a separate parking space. A number of the parking lots below the building are expected to be allocated to the hotel and the residences. The remaining parking lots will be public parking subject to a pay per use model.

The total parking facilities in tower are expected to amount to approx. 9,000 m2, which corresponds to approx. 8% of the tower’s total capacity.

The developers expects that retail stores will amount to a total size of 6,500 m2, which corresponds to approx. 6% of the tower’s total capacity.

The developers expects that offices will amount to a total size of 20,000 m2, which corresponds to approx. 19% of the tower’s total capacity.

The project includes 200 apartments. These residences are expected to amount to approx. 25,000 m2, which corresponds to 23% of the tower’s total capacity and an average size of 125 m2.

In addition to the 200 apartments, a number of apartments (up to 25% of the capacity of the residences) will be established as social housing outside the tower, which will have a positive social impact.

The hotel is expected to amount to 30,000 m2 which amounts to approx. 28% of the tower’s total capacity.

The location next to the cruise terminals is an important source market for the hotel.

The hotel is expected to have 350-400 rooms with 2 restaurants, a lobby bar and possibly a sky lounge, good conference space and approx. 2,000 m2 of meeting space would be optimal. Consequently, a total of at least 30,000 m2 is preferred by the potential operators.

The observatory is estimated at 4,000 m2, which corresponds to 4% of the tower’s total capacity.

We conservatively expect 1,500,000 visitors per year.

The developers currently have allocated 5,575 m2 to 2 restaurants and a sky bar, which corresponds to 5% of the tower’s total capacity.

2 exclusive restaurants and a sky bar are expected to be established at the top of the building.

The theme park will contain H.C. Andersen inspired amusements. Forrec has provided examples of potential amusements.

The indoor part of the theme park is expected to consist of a 4D/5D movie theatre and a museum, among others.

The public park will provide the people of Copenhagen with a new outdoor area to be used free of charge.

Timeline and construction

Location and infrastructure

The project will be located at Nordhavn close to the cruise ship terminals and Copenhagen city centre  which will ensure a stable foundation of visitors from the tourists arriving by cruise ships and the inhabitants of Greater Copenhagen.

Nordhavn is an area in the transformation process from an active industrial port into a modern residential and business district and is located approx. 4 km north of Central Copenhagen.

CPH City & Port Development (By & Havn) is developing Nordhavn, the new waterfront city district in Copenhagen. The CPH City & Port Development has reserved a ground plot at Oceankaj in Nordhavn for the project.

The Copenhagen metro system is planned for expansion into Nordhavn. The metro expansion into Levantkaj and Krydstogtkaj is expected to be completed in 2025-2030.

The project developers are currently engaged in dialogue with relevant authorities on a forward movement of the metro.

Furthermore, The Ministry of Transport and Building is planning to establish a tunnel connecting the Helsingør high way and the Amager high way. The tunnel is planned to have an exit close to Oceankaj in Nordhavn and will be opened in 2025 at the earliest.

In recent years, Copenhagen has been developed into the leading cruise ship port in Northern Europe with approx. 300 calls per year and approx. 850,000 cruise ship passengers docking at Nordhavn, right next to the project.

Metro expansion

Moving forward the establishment of the metro in Nordhavn

The forward movement of the establishment of the metro stations is expected to cost approx. DKK 200m.

Out of the proposed metro entrances in Nordhavn, the northern metro entrance “Krydstogtkaj” is next to the location of the project.

The metro expansion will provide guests with an attractive alternative to the trains and busses that stop at Nordhavn station.