PRESS RELEASE, Copenhagen, Denmark
With ATP Real Estate as the investor and landlord, FLSmidth is building a new campus in Copenhagen that will be the workplace of more than 1,000 people. The parties have recently signed an exclusive agreement.
FLSmidth's historic head office at Vigerslev Allé in Copenhagen's Valby district has fallen behind the times, and an agreement signed between FLSmidth and ATP Real Estate marks the first step towards a new, modern campus on the site.
Full-scale renovation to bring FLSmidth's head office up to contemporary standards
Converting the property into the new campus will involve a full-scale renovation of the historic buildings facing Vigerslev Allé worthy of preservation combined with the addition of brand new office facilities.
"Our existing buildings do not meet contemporary standards, so in any case we would need to find new premises within a short period of time. We wish to work with the municipal authorities to develop a new local plan, so we can retain our ties with the Valby district. With ATP Real Estate as the owner, we intend to commence a long-term partnership on developing the new campus and secure a presence for FLSmidth in the district for many years to come," said Christian Halken, country head and SVP, FLSmidth.
The rest of the existing buildings are expected to be demolished, making room for new residential housing at the southern end of the FLSmidth site. The project, which will be developed and managed by ATP Real Estate, will be subject to a new local plan.
ATP Real Estate to build modern head office
FLSmidth and ATP Real Estate have signed an exclusive agreement that will see ATP become the investor, developer and landlord of the property. The agreement will be formalised over the next few months as the parties enter into a collaboration agreement to formalise the roles and responsibilities in the upcoming work on new local planning and the actual construction project.
"We expect to build one of the most state-of-the-art corporate head offices in Copenhagen, and it will have the benefit of a long-term tenant. That will contribute to creating and retaining jobs in the city, while also assuring ATP's members of a stable return for many years to come. Building residential rental properties on the remaining part of the site fits in quite well with our investment strategy," said Michael Nielsen, CEO of ATP Real Estate.
Construction is expected to commence in 2019-2020, depending on the local plan.
For more information, please contact:
FLSmidth: Sofie Karen Lindberg, SVP Communications, skl@flsmidth.com, +45 30 93 18 77
ATP's Press Department: Birgitte Lund Rants, blr@atp.dk, +45 22 57 11 63
FLSmidth delivers sustainable productivity to the global mining and cement industries. As the market-leading supplier of engineering, equipment and service solutions, FLSmidth improves performance, drives down costs, and reduces the environmental impact of operations. Present in more than 50 countries and headquartered in Copenhagen, Denmark, the Group and its 11,700 employees generated revenue of DKK 18 billion in 2017. www.flsmidth.com
ATP Real Estate: ATP Real Estate was founded in 1995 and is a wholly owned subsidiary of ATP. The company invests in commercial properties in order to rent them out, primarily for office and retail purposes. ATP Real Estate develops the properties already in its portfolio to keep them up-to-date and ensure that they are in compliance with its customers' needs and requirements. The company also builds new properties in collaboration with future customers and contractors. ATP Real Estate has property investments under management in Denmark and abroad of about DKK 45 billion. www.atp-ejendomme.dk
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: FLSmidth via Globenewswire
