cBrain has entered into an agreement to purchase the Utzon House in Nordhavn, which during the past year has undergone an extensive renovation. During fall, cBrain expects to move into the new building, which will become the company’s new headquarters in Copenhagen.
The house was designed by the world-renowned architect Jørn Utzon in 1987, and in 2010, the son, architect Kim Utzon, designed an addition to the house which completes the original house in a very fine way.
The building, which today is preserved, has over the years served as the domicile for the design and furniture house Paustian and formed the framework for not only furniture and design, but also exhibitions, film screenings, lectures, and design talks.
The Utzon House in Nordhavn
As the new headquarters, the Utzon House supports cBrain’s international growth plans, for example as an attractive location for foreign visitors. At the same time, the special layout of the house and its open floors and tall pillars built up through the atrium gives cBrain the possibility to create a unique and creative environment for the company’s employees.
cBrain has chosen to purchase the building because cBrain, through ownership, will have greater freedom to design and utilize of the house than if cBrain was to only lease the house, while ownership at the same time supports a financial consolidation.
cBrain has managed to develop a business model where the company’s growth and international expansion require only limited liquidity and investment. That means that cBrain has today built a solid liquid cash holding that is expected to continue to grow over the coming years.
Through ownership of the Utzon House, cBrain is able to continuously invest free funds in an asset with low risk, in parallel with the investment being expected to have a positive effect on operations as a result of reduced rental costs.