Multiplex operator CinemaxX extends rental contract in QUARREE Wandsbek by 15 years

The CinemaxX in Hamburg’s QUARREE Wandsbek shopping center has been an institution in the Hanseatic city’s cinema landscape for almost 20 years. Now the multiplex operator CinemaxX has extended its lease with the owner of QUARREE Wandsbek, Union Investment, by 15 years, thus emphasizing its commitment to the location Hamburg-Wandsbek. In the context of the lease extension, extensive conversion measures for CinemaxX Wandsbek will also be announced, in which Union Investment will participate with a significant construction cost subsidy of 1.5 million euros for the conversion in spring 2021.

“We are very pleased to continue our long-standing cooperation with CinemaxX in QUARREE Wandsbek and offer our customers in the cinema and the center cinema quality at the highest level. The cinema industry is currently going through an unimaginably challenging time. As a long-standing partner, it is important for us to provide CinemaxX with extensive support in this difficult situation during the second lockdown”, says Ralf Schaffuss, Head of Asset Management Retail Germany at Union Investment.

CinemaxX Managing Director Frank Thomsen adds, “We thank Union Investment for the strong partnership support. It is clear to us that, even in the current situation, we are sticking to our strategic plans, including the successive conversion of our cinemas. We can hardly wait to present our award-winning leather armchairs, the so-called recliners, to our guests at Wandsbek Quarree in spring 2020. Thanks to the recliners, guest can choose the most comfortable position individually in every hall and at every seat, and enjoy maximum legroom with an optimal viewing angle to the screen.

Frank Thomsen continues, “As a corporate group, we firmly believe in cinema and the magic of the big screen. Before the pandemic, there were records in visitor numbers throughout Europe. Moments when you can completely ‘dive in and switch off’ have become rare these days–and more relevant than ever!”

In August, the CinemaxX in Harburg was extensively renovated and equipped entirely with recliners. Further locations throughout Germany are currently being renovated. The extended rental contract with CinemaxX in QUARREE Wandsbek covers an area of around 3,450 sq m. The cinema offers top-class Sony 4K projection combined with a sophisticated sound system in five auditoriums on XXL screens. The multiplex cinema, which opened on November 6, 2000, is one of the four cinemas operated by the company in Hamburg, along with the CinemaxX at Dammtor, the CinemaxX Harburg and the Holi-Cinema. The CinemaxX group is one of the best-known cinema operators in Germany with 31 cinemas and a total of 264 screens in 27 cities.