Marketing Policy
Marketing Policy
Marketing Policy
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<strong>Marketing</strong> <strong>Policy</strong><br />
The main objective of the company is to manage, increase the value of and sell<br />
properties that the Danish State no longer needs itself and which are therefore<br />
contributed to the company in compliance with the provisions in the Danish Companies<br />
Act regarding non-cash contributions.<br />
There is a wide span in the nature of the properties the company is asked to dispose<br />
of. First of all, they are properties that are distributed geographically all over the<br />
country. Secondly, they are properties of widely varying nature with regard to type<br />
and size. The portfolio has e.g. contained stretches of road with no right to build,<br />
small single-family houses that used to serve as houses supplied to public servants,<br />
artificial islands in the Sound, well-situated building sites in the heart of Copenhagen<br />
as well as previous barracks all around the country.<br />
When a property is contributed to the company, it is surveyed and it is decided<br />
whether it is to be put up for sale immediately or to be developed with a view to<br />
increasing its value before it is put up for sale. In all circumstances, the local<br />
government is contacted to inform it that the property now belongs to Freja and to<br />
hear if the local government is interested in buying the property in question.<br />
Freja has chosen to cooperate with an estate agent. If a property is put up for sale, it<br />
is decided whether a local estate agent should participate in the sale, and the terms of<br />
sale are then determined in consultation with the estate agent. It is up the the<br />
individual estate agent to determine whether the property in question should be<br />
advertised.<br />
If the property needs to be processed with a view to increasing its value before it is put<br />
up for sale, a development plan is drawn up, and agreements are made with the<br />
relevant consultants for assistance. At a suitable point in time in the development<br />
process, the local planning authorities are involved.<br />
All properties held by the company are for sale at all times, but the more complicated<br />
properties are not sold until the company has formed an opinion of the possible<br />
proceeds from the sale if the company undertakes the development and breaking-up<br />
itself, and until there are indications from the planning authorities as to what building<br />
and usage possibilities there are for the property.<br />
Advertising the properties takes place in several ways:<br />
The company itself will publish information about the properties in its portfolio along<br />
with its financial reporting, just as the material is made available on the corporate<br />
website. Through its cooperation with a wide selection of consultants, through<br />
discussions with planning authorities, through regular meetings with investors,<br />
contractors and developers and through talks and presentations, knowledge of the<br />
company and its property portfolio is disseminated to a wide circle of stakeholders.<br />
Under the headline of properties, the properties and possible building projects up for<br />
sale are presented. Links are provided to other, relevant websites, including that of the<br />
estate agent, where additional relevant information as well as the estate agent’s<br />
information sheet may be obtained.
The estate agent of the company functions as a kind of ”protruding sales department”,<br />
and via the estate agent’s own efforts and via his collegial network of professional<br />
estate agents, knowledge of the investment and building opportunities in the property<br />
portfolio of the company is disseminated.<br />
Usually, the large investment properties are not advertised in the daily press. But all<br />
parties who contact us or in any other way express an interest in a property before it is<br />
put up for sale will be invited to buy it, once it is put up for sale.<br />
We frequently find ourselves in the situation that several buyers are interested in the<br />
same property. In this case, it is company policy not to work with “bidding and<br />
outbidding” or “gazumping”. Instead, the potential buyers who take a genuine interest<br />
in the property are invited to submit closed bids where they have exactly the same<br />
information about the property.