CinemaxX Commits to 15 More Years at Rhein-Ruhr Centre in Mülheim
Mülheim, September 26, 2023 – In a significant development for the recently acquired Rhein-Ruhr Zentrum (RRZ) in Mülheim, anchor tenant CinemaxX has announced its intention to extend its rental agreement for an additional 15 years. This extended commitment by the renowned cinema brand not only underscores its dedication to the location but also offers strong support for the revitalization plans put forth by the center's new owners, Eurofund Group and Signal Capital Partners' joint venture.
Currently, CinemaxX at RRZ boasts a total of 11 screens and nearly 3,000 seats, spanning an impressive area of 7,900 square meters. CinemaxX has been an integral part of the Mülheim center since 1997 and operates under the umbrella of Vue International, a global cinema company known for its premium cinematic experiences, featuring cutting-edge visual and audio technology. A comprehensive series of renovation and modernization initiatives are on the horizon for this location.
Ian Sandford, President of Eurofund Group, expressed his optimism, stating, "CinemaxX's commitment demonstrates their strong belief in this location and bolsters our confidence in our vision to transform the center into a highly appealing shopping destination for the entire region. We aim to restore the Rhein-Ruhr Centre to its status as a regionally significant and innovative district center, offering an enticing array of the latest shopping and entertainment options."
Frank Thomsen, General Manager of CinemaxX, looks forward to the brand's continued presence at the Rhein-Ruhr Centre, remarking, "Just as the screen is an integral part of the cinema, this CinemaxX is an integral part of Mülheim. For over 25 years, we have welcomed visitors and cinema enthusiasts, and we remain committed to providing them with top-notch entertainment for years to come, staying true to our motto 'FILM IS NOW' and ensuring unforgettable cinematic experiences."
On July 19, 2023, Eurofund Group, a pan-European real estate investment and development company, joined forces with Signal Capital Partners, a London-based private equity firm, to finalize the purchase agreement for the sprawling 200,000 square meter Rhein-Ruhr Centre in Mülheim. This ambitious endeavor will see an investment of approximately 180 million euros over the next few years. Situated in one of Germany's largest metropolitan areas, the Rhein-Ruhr region, boasting over ten million inhabitants, the center draws visitors from Essen, Oberhausen, Duisburg, and Düsseldorf. The center's storied history dates back to its opening on March 1, 1973, marking a pivotal moment in the economic trajectory of the thriving city of Mülheim. With its successful blend of retail and gastronomy, the Rhein-Ruhr Centre has remained a pioneering and captivating destination for residents of the region for five decades.