The monastic community originated however in St. Michael's Abbey in Schleswig, a Benedictine double monastery which had become disorderly, with a reputation for immorality and drunkenness.
In 1192 Nicholas I, the de facto officiating Bishop of Schleswig, therefore moved the monks to a remote site, where they established Guldholm Abbey.
When the king came to hear of it, he accused the monks at Øm of harboring a criminal, but despite a search throughout Denmark's monastic houses, Arnfast could not be located.
It consisted of a church and cemetery, hospital, guest house, farm and a wing for lay brothers, with kitchen and refectory.
In 1582 Duke John the Younger of Schleswig-Holstein-Sonderburg ordered the remains to be demolished, and had the stone reused for the construction of Glücksburg Castle, which still occupies the site.