Pandebjerg was established when Peder Estrup divided his recently acquired estate Kirstineberg in two.

B. S. Estrup, who would later serve as Prime Minister of Denmark, sold the estates to Therman Ø. Hillerup after a few years.

Originally from Hamburg, he had come to Denmark in 1940 where he initially acquired Orupgaard and later expanded his holdings through the purchase of several other estates.

[1] The current main building is from 1900 and was built to design by the architect Henrik Christopher Glahn.

The Pandebjerg estate (with the farms Axelborg and Nygård) has a total area of 816 hectares.