ECE Work + Live has acquired a former office building in Copenhagen Frederiksberg district from TPG Angelo Gordon, with plans to convert it into a hotel.
Located on the Gammel Kongevej street, the hotel will comprise 210 rooms. Construction is expected to begin in the second half of 2025, with completion expected by the beginning of 2027.
ECE will invest around €65 million in the project, and has submitted plans to the Frederiksberg Municipality in relation to the improvement of the public space in the surrounding neighbourhood.
The acquisition was supported and accompanied by Copenhagen-based developer Oskar Jensen Development, which will also be involved in the development process as a service developer as well as the law firm Kromann Reumert. A hotel operator has not yet been selected. However, ECE says planning coordination and negotiations for a contract with well-known hotel operators are already well advanced.
Why it matters
This is yet another office to hotel conversion deal as these types of transformations become more prevalent on the back of inflation and high interest rates negatively affecting ground-up development. ECE joins the likes of MCR Hotels, Derag and Slatto who have recently bought former office properties for the purpose of turning them into hotels.