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According to the Kjalnesinga Saga the first settler in the area, Korpulfur, built his farm there. Later the farm became the possession of the monastery of The Videy Island until the reformation, when the Danish royalty confiscated it. The farm was sold in 1810 and became private property. In 1922 an entrepreneur by the name of Thor Jensen bought it. He cultivated large fields and built the manor with 39 rooms for the farm workers and a dining room for 70 people. He operated the largest cattle farm of the country and the cowshed was the most modern in the Nordic countries. He had 300 heads of cattle and produced 800.000 litres of milk annually.
It was pasteurised and processed in his dairy and retailed in the capital area until 1934, when the law concerning the processing of milk and milk products was introduced. This law strangled the efforts of milk producers in the capital area and soon the farm had to stop its operation. In 1943 the farm was incorporated by the capital. The municipality bought Korpulfsstadir and other farms of Mr. Jensen and farming continued there until 1970. After that the houses were used for the storage of miscellaneous things and some artists’ ateliers.
A fire destroyed many valuable things in 1969. In 1999 a part of the house was turned into a primary school because of the great increase of inhabitants in the area. Golfers chasing the white balls now mainly use the cultivated fields.