Landsbankinn HF: Iconic Austurstræti and Hafnarstræti Buildings Up for Sale
Deal News | May 16, 2025 | Landsbankinn HF
Landsbankinn HF, an established financial institution in Iceland, has announced the sale of several historic properties located at Austurstræti 11 and Hafnarstræti 10, 12, and 14. Notably, the Austurstræti 11 building, recognized for its architectural significance and historic value, was originally built in 1898 and later expanded in 1924 based on designs by Guðjón Samúelsson. The external and internal fittings of this building are of particular importance, having been awarded listed status in 1991. Alongside Austurstræti, Hafnarstræti buildings were developed in the early and mid-20th century, featuring a mix of historical and modern architectural elements. In 2023, Landsbankinn transferred its operations from these historical locations to a new, modern facility at Reykjastræti 6. Despite initial interest from the Icelandic government to purchase Austurstræti 11, a deal was not finalized, prompting the decision to sell these iconic properties.
Sectors
- Real Estate
- Banking
Geography
- Iceland – The sale of the buildings is taking place in Iceland, and the properties being sold, as well as Landsbankinn's operations, are located primarily in Iceland.
Industry
- Real Estate – The article discusses the sale of historic real estate properties previously used by Landsbankinn HF for its operations, highlighting the significance of property management and sales within the real estate industry.
- Banking – Landsbankinn HF is a financial institution, and the discussion of its relocation and property sale impacts the banking sector, particularly in how financial institutions manage and utilize their capital assets.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Landsbankinn HF | Seller | Company | Landsbankinn HF is a major financial institution in Iceland that is selling its historic properties in the capital city. |
| Icelandic Government | Potential Buyer | Government | The Icelandic government showed initial interest in purchasing the Austurstræti 11 building but has not finalized the acquisition. |
| Guðjón Samúelsson | Architect | Person | Architect responsible for the 1924 design of Austurstræti 11 in Reykjavik. |
| Einar Erlendsson | Architect | Person | Architect responsible for designing the Hafnarstræti 10-12 buildings in 1923. |