Far from all property sales proceed as originally planned. A skilled property agent should therefore come up with innovative and creative solutions if required. Sadolin & Albæk has the required skills, as illustrated by this case study, among many others.
When deciding to close down its Gammeltorv branch office at Strøget in central Copenhagen, Jyske Bank (Denmark’s second-largest bank) decides to put the building up for sale. We initiate sales efforts, but as it turns out it is difficult to identify a buyer. We assess that the building will be easier to sell at a fair price if let. Our recommendations to Jyske Bank are therefore to give first priority to the search for a tenant before offering the property for sale again.
Sadolin & Albæk also offers qualified commercial leasing services and we therefore start the search for a tenant. We identify a prospective tenant, Swedish fast-food chain Max Burger, interested in entering the Danish market. Max Burger considers the former Jyske Bank branch office at Strøget an excellent location for the chain’s first restaurant in Denmark.
Jyske Bank decides to grant a contribution to reconstruction works so that Max Burger is able to move in and open its new restaurant. Because of the new tenancy, the property attracts more demand and is therefore – as envisaged – sold shortly after.
Today, Max Burger has settled in nicely in the former Jyske Bank premises, and the basement that used to hold the bank vault now contains an entirely different kind of valuables: the former strongroom has been converted into a cold-storage room.