The Danish government has given the go-ahead for a major shopping centre in Copenhagen despite a moratorium on all new retail developments in the country.
The controversial decision will allow TK Development to develop its Fields scheme comprising 65,000m2 of retail and 30,000m2 of leisure.
The decision has caused a political backlash – the centre is to be built on the government-backed Øestad site in Amager.
The 310ha site is owned by the Ørestad Development Corporation, which is 45% owned by the Danish government and 55% by the city of Copenhagen. The scheme totals 3.1m m2.
The lack of a decision on the shopping centre has been seen as a major obstacle for the success of the site and this positive move is expected to kickstart occupiers into buying sites.
The scheme will be served by the new metro, is close to the new Øresund bridge to Malmo, and is five minutes drive from Copenhagen airport.
Lau Melchiorsen, head of business development at DTZ Egeskov & Lindquist, said: “The fact that you can go to Øestad and see things happening will create further interest in the scheme.” DTZ along with Sadolin Albaek, part of the Oncor network, and Leif Olsen are letting agents on the scheme.
