BAYERISCHE HAUSBAU REAL ESTATE EXTENDS CURRENT LEASE AGREEMENT WITH CULT CINEMA AHEAD OF CONTRACT RENEWAL DATE

Berlin, 31 October 2024 – Bayerische Hausbau Real Estate and the Zoo Palast cinema in Berlin are extending their existing lease agreement. Signed in 2010, the tenancy agreement was originally concluded until 2033. The Zoo Palast has now extended the lease, thereby securing the iconic building for another ten years until 2043. This move cements the long-standing partnership between the real estate company and the time-honoured cinema, which has already spanned more than two decades. In 2002, Bayerische Hausbau Real Estate took over the listed Zentrum am Zoo (Centre at the Zoo) with the vision of developing an urban city and shopping quarter there. Occupying this space today are the BIKINI BERLIN concept shopping mall, the 25hours Hotel, the Huthmacher building and the Zoo Palast. With its blend of shopping, art and culture, the complex is a popular port of call in the City West – not only for Berlin locals, but also for tourists to the German capital. And regularly also for Hollywood stars.

The Zoo Palast celebrated its grand opening at Hardenbergplatz on 28 May 1957 with the film ‘The Zurich Engagement’. From 1957 to 1999 it was the main venue of the Berlinale film festival and the most important premiere cinema in West-Berlin. Many acting greats like Harrison Ford, Sophia Loren, Robert De Niro and Elizabeth Taylor have made their way down the red carpet, welcomed fans and given interviews here.

Extending the lease agreement with Bayerische Hausbau Real Estate ahead of the contract renewal date ensures that the Zoo Palast can continue giving avid cinema-goers special silver screen moments for at least another two decades. This means that the cult cinema can carry on writing its success story as a beacon of film culture. The decision reflects the deep trust and close partnership between the Zoo Palast and Bayerische Hausbau Real Estate and underlines the huge significance of the location in the heart of the City West for the ongoing cult status of the internationally celebrated cinema.

“The Zoo Palast  is the most well-known and venerable movie theatre in Germany and has been a real institution in the City West for many years now. We also want to secure this Berlinale and premiere cinema for the future. With Bayerische Hausbau Real Estate, we have a reliable partner by our side and look forward to being able to offer our visitors a special cinematic experience in the coming 20 years too,” explains Hans-Joachim Flebbe, cinema operator of the Zoo Palast<

Bayerische Hausbau Real Estate is delighted about the early contract renewal. As Thomas Bartl, Head of Asset Management at Bayerische Hausbau Real Estate, emphasises: “The Zoo Palast is a cultural gem in the City West and an important part of Berlin. We are delighted to be continuing this successful partnership and supporting the cultural diversity that the Zoo Palast offers in the future as well.”

The BIKINI BERLIN complex with the Zoo Palast is just one of many properties managed by Bayerische Hausbau Real Estate. The umbrella brand Bayerische Hausbau, which has its core market in Munich, boasts a real estate portfolio worth around €3.5 billion, making it one of the leading companies in this segment. Since it was established in 1954, it has focused on value-oriented portfolio development and the asset and property management of its own real estate portfolio.