Until seven years ago, K-Motion GmbH & Co. KG was only a tenant on Prenzlauer Friedrichstrasse. But shortly before Christmas 2017, the operators of the Union Filmtheater The building was unexpectedly sold to a group of investors. But that’s not all. The Hamburg company subsequently completely rebuilt the three cinema halls and replaced the approximately 500 cinema seats with new ones. The new owners also invested a lot of money in renovating the floors and technology. At the time, cinema director Klaus-Dieter Glander saw this as a clear commitment to the Prenzlau location. And that’s how the district townspeople saw it too.
Attractive investment
You can therefore imagine how irritated people in Prenzlau were when the property suddenly reappeared on the Internet as “for sale”. Touted as an attractive investment in a top location, the listed building from 1957 is to be sold again. What’s going on there? The Uckermark Kurier then wanted to know this from K-Motion GmbH & Co. KG. Is the film theater on the verge of extinction?
Klaus-Dieter Glander can offer luxurious cinema seats in his cinema. (Photo: Kai Horstmann)
Mathias Kemme, managing director, gave the all-clear on Tuesday. When asked by the editorial team, he assured us that there were no plans to close the cinema. On the contrary, Prenzlau is one of the favorite venues in their portfolio, the boss assured.
The numbers are also impressive – and have been for years, by the way, emphasized his business partner Christoph Glasses in an interview with the Uckermark Kurier: “Rest assured that the sale has nothing to do with the film theater. We have never regretted choosing it back then Prenzlau was chosen, which is not only thanks to the beautiful house, but also to the good team around Klaus-Dieter Glander.”
Not a property manager
Kemme continued: “It is more the case that we primarily see ourselves as a cinema operator and not as a property manager. The managing directors assured that the money from the sale of the property could be used to provide further important impulses for the cinemas: “We are attached to the venue, but not so much to the property in Prenzlau.”
The listed property, which was first renovated in 1998, is to be sold, with a property measuring 2,300 square meters and several tenants. In addition to the cinema, the building also houses retail, restaurants and offices, a total of five commercial units, 98 percent of which are rented, including to the strong anchor tenant Tedi. The new owner should be prepared for the film theater to remain in its original location – because without the cinema there would be no contract.
