Skanska Sells Hotel in Copenhagen, Denmark, for DKK 670 M, About £80m

Main Photo: The Scandic Copenhagen

Date: January 2019

Location: Scanport, around the Oresund Bridge, close to Copenhagen Airport

Name: The Scandic Scanport – opening December 2020/Spring 2021

No. of Keys: 357

Seller: Skanska has sold a hotel building in Copenhagen, Denmark, for DKK 670 M, about £80m. Skanska have built or renovated several hotels in the USA, such as Marriott Marquis Atlanta, Westin Peachtree Plaza, Dolce – The Summit, Widewaters – The Port and The Charter, and others.

Buyer: The buyer is City Danmark A/S – a company established by Pareto Securities.

The building covers 25,200 square meters, of which 19,000 square meters hotel and conference facilities and 6,200 square meters basement and underground parking.

The hotel is fully leased and will be operated by Scandic, who has signed a 20-year lease agreement.

The project is executed in cooperation with the contractor KPC København A/S and construction is planned for completion in December 2020.

Skanska is one of the leading development and construction companies in the Nordics, with operations in building construction and civil engineering in Sweden, Norway and Finland, and developing residential- and commercial property projects in select home markets.

Skanska offers services in public-private partnerships. Skanska had sales of about SEK 65 billion and more than 15,000 employees in its Nordic operations during 2017.

Price: DKK670m

Price per Key: DKK1,876,750 – around €251,389

THPT Comment: Scandic – like a London bus, nothing for ages and then two deals in a week! Good price

First Seen: Skansa website

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