Læs Årsrapport 2007 her - freja.biz

challenges that need to be illuminated and processed.
The prerequisite for a constructive dialogue
with the authorities involved is a thorough
analysis, which is conducted in on-going contact
with the external advisors of the Company and
in an agreed procedure with the local government
in question.
The Company has a number of properties under
development at all times. It is not always predictable,
how quickly the development process
can take place, since the politicians will often
have to be heard in the process, and sometimes
our wishes for rapid development conflict with
local government interests in other development
projects and plans.
It is under constant evaluation to what level the
development process is to be taken before we
look for potential developers, since their considerations
may be of importance to the most
appropriate final framing of the Company’s
wishes in connection with the district plan. In
some situations, it will be profitable to offer a
building right for sale at an early stage and to
develop the possibilities in cooperation with a
developer. In other situations, the best overall
result is achieved by not putting the property up
for sale until a district plan has been agreed, or
at least until a public enquiry has been opened
for the proposed district plan. Furthermore,
some district plans may be of a somewhat controversial
nature, and in those cases it may be
of relevance to the district plan process that it
is backed by a developer, so that the politicians
who agree to the district plan may know that
the project in question will be carried out if the
district plan is accepted.
Several significant development projects of the
Company concern properties in Copenhagen
City, and we were pleased to find that the district
plans for both Margretheholm and for the
property in Hambrosgade were finalised.
Margretheholm has therefore now been finally
transferred to the Sjælsø Gruppen, whereas
the building right to the beautiful and well laidout
office building of 23,000 sq m, which the
Dutch architect Erick van Egeraat has designed
for the site in Hambrosgade, is still up for sale.
At the end of 2007, a developer paid an option
premium in order to gain time to look into the
possibilities of financing the purchase and the
subsequent construction work. But the option
owner in question had to give up in his attempt
to provide financing in the somewhat turbulent
financial market in early 2008.
At Strandpromenaden 33-39 close to Svanemøllen
in Copenhagen, the Company has taken over
four neighbouring villas on four sites with a total
area of just below 9,000 sq m. Together with
the Cornerstone Group, which would be interested
in buying the building right and construct
new buildings, we have made an agreement
about jointly investigating the possibilities of
developing a project that is so convincing that
the local government will allow us to demolish
the four villas and build the area with primarily
new homes. We have therefore decided to invite
six architectural firms to participate in a competition
for ideas, a so-called parallel commission,
to shed light on the possibilities for a unique
new project that will fit into the special character
of the local area and may contribute positively
to life in the area.
The property at Følager 5 in Valby, Copenhagen,
is one of several properties in the area near the
new station, where the local government has
invited the neighbouring landowners to partici-
pate in a process aimed towards an overall development
plan for the entire area. We believe
that there is basis for building around 20,000
sq m of primarily service providers on our site.
Still, a clarification of this point would require a
new district plan, which cannot be made until
the overall plan has been negotiated. Therefore,
a new district plan will not be ready until some
time in 2009.
Two previous development projects, the Ny
Tøjhus first at Amager and next at Holmen, have
required considerable resources on the part of
Freja, even long after the district plans were
agreed and the building rights sold. With regard
to Holmen, the City Surveyor had his so far most
extensive and most complicated registration
procedure that came to an end in 2007 after
almost ten years. At the Ny Tøjhus the development
process proposed by Freja has had to be
divided into a number of smaller stages in order
to provide as little hindrance as possible to
the successive developers. The last office building
is now so far progressed in the construction
process that the development can now be
terminated. What remains is the process of creating
the opening of the district plan towards
Njalsgade. This process awaits the approval by
the local government of the project proposed by
the buyer for a building intended to form the
eastern neighbour of, and to be separated by a
coming square from, the three warehouses that
used to belong to the FDB (the Federation of
Danish Cooperative Societies).
A district plan already exists for the property at
Frederiksborgvej 71 in Allerød, north of Copenhagen.
However, we do not consider the project
made possible in the district plan completely upto-date,
and therefore we have cooperated with
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the architectural firm of Vandkunsten and SLA
(landscape architects and urban development
planners) for the design of an alternative building
proposal, which has also been discussed with
the local authorities. Whether we will attempt
to have the district plan changed depends on
whether we can find developers who would prefer
the new building plan. In the current market
for new homes, it is not quite easy to make the
building of new homes in Allerød profitable.
The property at Rolighedsvej 1 in Ballerup west
of Copenhagen is situated close to the city centre
and the station. This site could become an
important asset in the local government’s wishes
to develop the somewhat uninspiring environment
in the city centre. The local government
has initiated a development process where they
seek contributions to Vision 2020 in dialogue
with the citizens. Upon agreement with the local
administration, Freja has offered our views
of the process based on our own site, just as
we have commented on both deficiencies and
opportunities in general for the city centre and
submitted a sketch drawn up in cooperation
with the architect Erik Nobel for a comprehensive
project covering our site and the two adjacent
sites to the north and south, respectively.
At Herstedlund in Albertslund west of Copenhagen,
all building rights have been sold long ago,
and many of the new homes are being built.
As part of the project, we have taken on the
construction of a tenants’ house, which is to
be transferred to the homeowners’ association.
This project was supposed to have started in
2007, but was not initiated until January 2008.
The delay was caused by the incomprehensible
result of the tender process. This meant that the
architects of Dorte Mandrup Arkitekter had to