Tattersall·Lorenz, an owner-operated SME property manager based in Berlin, increased the volume of its space under management by approximatley 30% in 2020. It currently totals around 4.4 million sqm (12/2019: 3.4 million sqm). Overall, the company is now responsible for the property management of 471 assets (12/2019: 403) in 357 different locations across Germany.
The annual rental income generated by around 3,000 individual leases on the properties under management amounted to approximately EUR 292 million (2019: EUR 221 million p.a.). Logistics and light industrial properties accounted for around 2.6 million sqm (2019: 2.3 million sqm) of the space under management together with circa 590,000 sqm of retail and 1,000,000 sqm of office properties (12/2019: 370,000 sqm and 500,000 sqm respectively).
Tattersall Lorenz’s project management division was also substantially expanded and the business has significantly enlarged its engineering capacity for property conversion, extension and refurbishment in this business area, increasing its turnover by 36% to EUR 1.5 million.
In the past year, Tattersall Lorenz has also expanded its presence throughout Germany, including opening an office in Munich. Additional instructions from Union Investment Real Estate in Baden-Wurttemberg also gave rise to a considerable increase in staff in the Stuttgart office, necessitating its relocation. The company now employs 152 staff (12/2019: 129) in its offices in Berlin, Frankfurt, Hamburg, Dusseldorf, Munich and Stuttgart.
Tattersall Lorenz’s achievements in the past year include its strategic partnership with Edmond de Rothschild Real Estate Investment Management (Edmond de Rothschild REIM). It secures exclusivity for the company for the property management of properties acquired by Edmond de Rothschild REIM in Germany up until 2023. In addition, for the first time, HanseMerkur Grundvermögen AG entrusted the company with instructions involving commercial properties
The launch of a subsidiary business, Talyo Property Services GmbH, which deals exclusively with the property management of residential real estate, was another highlight. As well as traditional rental apartments, this will include apartments in the ‘student housing’ and ‘serviced apartments’ segments.
In 2021, Tattersall Lorenz plans to continue its sustained expansion, to increasingly press ahead with process digitalisation in the company and to raise turnover in the project control area by around a third. The opening of a new office in Leipzig in early summer 2021 is also planned.
