08/19/2015 | Kaufhof to become StadtQuartier Schloßstraße – purchase contract concluded

A purchase contract for the Kaufhof site was concluded last week between Heinz-Joachim Hoffmeister and a project company – StadtQuartier Schloßstraße GmbH – belonging to Fortress Immobilien AG, Düsseldorf, and GRS Beteiligungen GmbH, Düsseldorf, on the one hand and Mülheimer Wohnungsbau eG (MWB) on the other.

StadtQuartier Schloßstraße GmbH will assume responsibility for around two-thirds of the site’s space, with the remaining third being acquired by MWB. AIP Planungs  GmbH, Düsseldorf, will be commissioned with the project’s planning and management. The signing of the contract is the first step toward the existing building complex being demolished to make way for a new complex and conversion, and turns expressions of interest into hard facts.

The StadtQuartier Schloßstraße project is scheduled for completion in 2018 and will be an attractive mixed-use center of more than 30,000 square meters, comprising retail outlets, eateries, a hotel, a fitness center, residential units, office space, and parking. The new complex will open onto the city and the water, and will contribute to bringing Mülheim an der Ruhr closer to the Ruhr river once again, as intended by the urban development project Ruhrbania.

“The former Kaufhof site is an outstanding property thanks to its inner-city location very close to the water and the harbor, the Ruhr promenade, and the shopping arcade,” says Frank Esser, CEO of MWB, outlining the investment from the perspective of the Mülheim-based company. “The Kaufhof site once really pulled in the crowds to the city center and the new StadtQuartier will do just the same!”