The pan-European real estate investment and development
company Eurofund Group and the London-based private equity firm Signal Capital Partners
confirm that in early 2024, the CBRE Retail Consulting division (formerly Prime Consulting
GmbH), will take over the management and marketing of the Rhein-Ruhr-Zentrum (RRZ) in
Mülheim. CBRE Retail Consulting, based in Düsseldorf, specialises in leasing, consulting and
management of shopping centres as well as retail parks, and has more than 30 years of
experience in this field. In September, CBRE – the world’s largest commercial real estate
services and investment firm – acquired Prime Consulting from CEO and owner Alastair
Green. With the acquisition, CBRE intends to expand its consulting services for the retail
sector in Germany.
Eurofund Group and CBRE have previously worked together successfully on the Puerto
Venecia project in Spain and the UBBO project in Portugal. Opened in 2012, the 206,000 sqm
Puerto Venecia development marked the birth of the ‘Shopping Resort’ concept. The scheme
has been a stand-out success, now attracting over 20 million visits annually. The same
concept has also guided Eurofund Group’s transformation of UBBO Lisbon, which is
consistently recognised among the city’s leading centres and has recently also broken
through the 20m footfall barrier. With Rhein-Ruhr Zentrum, Eurofund Group, Signal and
CBRE will bring the ‘Shopping Resort’ to Germany— combining the best of retail, alongside
comfortable public realm, and leisure activities for the whole family.
Ian Sandford, President of Eurofund Group: “We have selected a strong strategic partner for
this project in CBRE, who will support us in realising our vision of transforming the RheinRuhr-Zentrum in Mülheim once again into a regionally significant and innovative district
centre. We will partner with one of the most senior retail teams across German being led
by Alastair Green with over 20 years retail experience and 50 retail professionals. Our
common goal, in addition to building on our strong relationships with existing tenants, is to
attract new partners to the building and provide an attractive and innovative mix of retail,
dining and leisure.”
Ana Colom, Head of Retail Property Management CBRE Europe: „The recent signing of the
management and leasing contract for the Rhein-Ruhr-Zentrum shopping centre represents
a key step in the partnership between CBRE and Eurofund and Signal. We firmly believe that
pivotal areas such as innovation, customer experience, our retail integrated approach and
international experience will be the cornerstones of the successful management of this
venture. This commitment with Eurofund and Signal bolsters CBRE’s foothold in Europe and
exemplifies our commitment to growth in German retail, particularly in the wake of our
recent acquisition of Prime Consulting. CBRE looks forward to working closely with Eurofund
and Signal in delivering unparalleled value and growth for the Rhein-Ruhr-Zentrum shopping
centre.“
The extension with an anchor tenant of the Rhein-Ruhr-Zentrum, CinemaxX, for a further
15 years was already announced in September. Negotiations are also currently being held
with a number of new tenants for the shopping centre.
The Rhein-Ruhr-Zentrum is located in one of the largest German metropolitan areas, the
Rhine-Ruhr region, with more than ten million inhabitants. Due to its proximity to the city
of Essen, the centre also attracts visitors from the neighboring cities of Oberhausen,
Duisburg, and Düsseldorf, with good transport connections offering the potential for further
expansion of the catchment area. The centre can also look back on an eventful history: it
was opened on March 1, 1973, and was considered an important milestone in the economic
history of the prosperous city of Mülheim. With its successful mix of retail and gastronomy,
the Rhine-Ruhr Centre has been a pioneer and attraction for people from the region for the
last 50 years.
