Following the acquisition by Eurofund Group and Signal Capital Partners earlier this year, the Rhein-Ruhr-Centre is to be transformed into a unique, experience-oriented ‘shopping resort’.
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 a 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 Rhein-Ruhr-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 Germany, led by Alastair Green with over 20 years of 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.”
