OFFPLAN NEWS

(11.06.2007 )
Cheap Danish property USA’s largest real estate chain enters the Danish market

The emergence of a more international ownership structure in Denmark real estate sector is indicated by the largest US franchise chain, Coldwell Banker, buying into the Copenhagen based Base 1 chain, writes Børsen.

Wayne Vandenburg, managing director and chairman of Coldwell Banker Europe, had previously spoken about the company’s plans for Denmark: “We will start in Copenhagen but have plans to expand to other parts of the country. To begin with we plan to buy shares for about EUR 6.5 million in a Copenhagen brand, and either be a minority shareholder or have an ownership share on equal terms with the present owner.”

The company’s entry into Denmark will place the country on the international chain’s world map, which has 3700 offices and 120,000 affiliated agents worldwide. Last year Coldwell had a turnover at USD 360 billion in the private market and 10.3 billion in the industrial sector.

According to Børsen, plans involving the real estate company Base 1, which has 10 offices in Copenhagen, are very advanced. The company, which formerly operated under the name 2V, is owned by managing director Lars Vermund and was established 25 years ago.

Base 1 has been very successful at selling luxury apartments on Copenhagen’s harbour front, making the company a perfect match for Coldwell’s concept of focusing on wealthy buyers.

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