Axelborg was constructed as a new headquarters for Den Danske Andelsbank, and construction was completed by 1920. The building was designed by architects Arthur Wittmaack and Vilhelm Hvalsøe.[1] It takes its name from the adjoining square Axeltorv, which had been inaugurated in 1917.

In 1928, the Danish Broadcasting Corporation (founded in 1925), relocated to rented rooms in the building, but the need for more suitable facilities with proper broadcasting studios and a concert hall for the new radio symphony orchestra soon became evident. Consequently, a new building, Stærekassen was constructed on Kongens Nytorv and the radio relocated there in 1931.[2] Since then, the building has been occupied by The Danish Agricultural Council (Landbrugsraadet), in 2009 renamed Landbrug & Fødevarer (Danish Agriculture and Food Council).