Vacancy across Copenhagen’s high streets continues to tighten, now approaching historically low levels. Following comprehensive refurbishments and the entry of several established brands, the vacancy rate has declined to approx. 6%. The retail stretch between the City Hall Square and the square Kgs. Nytorv currently only has six vacant units. The remaining 11 vacant units are concentrated on Købmagergade and Frederiksborggade. Significant refurbishments have been completed, including Bestseller’s overhaul of Frederiksberggade 2 and Louis Vuitton’s refurbishment of Østergade 61. The fashion segment continues to consolidate its dominant position, underpinned by the expansion of international brands and the opening of flagship stores. At the same time, pop-up concepts such as a Mercedes showroom and a Salling department store are contributing to increased activity on the high streets.

HISTORICALLY LOW VACANCY AND RESILIENT DEMAND

Vacancy across Copenhagen’s high streets has declined notably over the past year from 11.3% to 6.0% (Figure 1). This compression reflects both the consolidation and reletting of vacant units, often through amalgamation within the same property, and a clear strengthening in occupier demand for high street space. Availability is now predominantly concentrated on Købmagergade and Frederiksborggade (zones 1, 3 and 4). Of the 17 vacant units, 11 are located on these two streets, many of which remain in the process of repositioning or refurbishment. By contrast, vacancy is at record lows in zones 5 and 6 with just two available units on the stretch between the City Hall Square and the square Amagertorv. Current asking rents for high street retail space range between DKK 4,000 and DKK 16,000 per sqm (gross), equating to an average of DKK 9,200 per sqm (gross).

FASHION IS BACK

CThe fashion segment has strengthened its position as the dominant sector on the Copenhagen high streets. Over the past year, the fashion segment has increased its share of stores on the high streets from 42% to 46%. Cf. figure 2, the segment now accounts for 131 of the 284 shops on the high streets. The increase is primarily driven by a combination of established brands and emerging concepts seeking representation in the most central and heavily trafficked retail pitches. Notable openings include Bestseller’s flagship at Frederiksberggade 2, Massimo Dutti’s upcoming store at Østergade 26 (formerly COS) and new stores from Ditur, Adidas and John Henric on Købmagergade. Adidas is set to open a flagship at Købmagergade 44, making it a neighbour to Nike.

On the supply side, high-profile closures include Burberry, which has vacated Østergade 38, and Louis Vuitton, which has relocated to Østergade 61 from Amagertorv 2, releasing two grade A units to the market, both with exceptional locations. The remaining occupier movements over the past six months is provided in Figures 3 and 4.

NEW DEPARTMENT STORE AND POP-UP SHOPS

A landmark opening was announced in September 2025, which will amplify activity and café culture in the high street area. Salling will open a department store in the building Knud Højgaards Hus fronting the square, Kultorvet with an anticipated opening in summer 2026. The department store will focus on fashion, footwear, and beauty, complemented by a café and bar directly on Kultorvet. Salling is known for its rooftop concept in Aarhus and Aalborg, which will also be introduced in Copenhagen with incorporating events, dining experiences and panoramic city views.

In parallel, short-term occupiers are increasingly activating vacant units, supporting footfall and maintaining vibrancy in the areas. A Mercedes-Benz pop-up studio has opened at Købmagergade 3, which will host events and activities over the summer featuring concept cars and other unique experiences. The unit was previously occupied by Mater, another pop-up concept.

Both the Salling department store and the new pop-ups are strengthening footfall and activity on the high streets.

MAJOR RETAIL REFURBISHMENTS COMPLETED

Several large refurbishment projects have been completed over the past year, including Frederiksberggade 2, where Bestseller now has opened after several years of comprehensive redevelopment. The refurbishment of the former Café Norden, facing the square Amagertorv has also been completed, with Louis Vuitton now in occupation. The brand’s former store on the opposite corner is currently vacant and undergoing refurbishment. The unit is widely regarded as one of the most attractive on Copenhagen’s high street benefitting from its exceptional micro-location at Amagertorv with extensive dual frontage to both Købmagergade and Amagertorv.

Further projects are underway, including comprehensive interior refurbishment of Købmagergade 49, anchored by the bookshop Arnold Busck, Købmagergade 29 where the long-awaited refurbishment has commenced and will accommodate the Danish burger chain Jagger, and Østergade 22, where the multi-storey jewellery store, Klarlund, is undergoing refurbishment ahead of rebranding to Bucherer following its acquisition of Klarlund in 2023.

INVESTMENT IN MODERNISATION AND PUBLIC REALM BOOST THE HIGH STREET AREA
The improvement in occupational demand and reduction in vacancy should be viewed in the context of sustained investment in facades, retail units and the public realm on the high streets. Extensive refurbishments, streetscape upgrades and the opening of metro stations at all key access points have materially improved quality and accessibility. Metro connectivity in particular plays a critical role in driving customer flow with stations acting as key anchors for retail activity and increasing the attractiveness of the area to both occupiers and investors.

Overall, the interplay between infrastructure improvements and ongoing property modernisation has created a more contemporary high street environment, underpinning demand for prime retail locations in Copenhagen.