Nordhavn businesses in close proximity to new Metro stations will have to pay – The Post

Nordhavn businesses in close proximity to new Metro stations will have to pay

A company owned by Copenhagen Municipality and the state wants to recoup its investment

March 5th, 2015 5:17 pm| by admin
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Businesses and residential property investors located in the Copenhagen district of Nordhavn will end up paying a large share of the costs of building the new Metro stations in the area.

According to Børsen, businesses located within 600 metres of the stations will have to pay a so-called Metro tax from 2020 onwards.



For a company that has just moved to this up-and-coming suburb, the new tax will represent an additional cost of 120,000 kroner a year.

Extra taxes to get full investment back
CPH City & Port Development (By og Havn), which has co-financed the new Metro construction in the district, expects to collect 900 million kroner over a period of 60 years from locals to recoup its entire investment. 

As well as businesses, local residential property investors will be billed, and Michael Nielsen, the executive manager of ATP Ejendomme, has confirmed tenants will have to pay higher rents to compensate for the new tax.

"Both us as landlords and our tenants have yet to determine if this is something we'll be able to afford," he told Børsen.

"We haven't come across anything like this before. We'd have expected our properties would increase in value once the Metro stations were there."

CPH City & Port Development is an urban development company owned by Copenhagen Municipality (95 percent) and the state (5 percent).