Property Manager Tattersall Lorenz increases space under management by around 30 per cent to 4.4 million sq m in 2020
Tattersall Lorenz, an owner-operated SME property manager based in Berlin, increased the volume of its space under management by around 30 per cent in 2020.
It currently totals around 4.4 million square metres (12/2019: 3.4 million square metres). Overall, the company is now responsible for the property management of 471 assets 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 EUR292 million (2019: EUR221 million pa). Logistics and light industrial properties accounted for around 2.6 million square metres (2019: 2.3 million sq m) of the space under management together with circa 590,000 square metres of retail and 1,000,000 square metres of office properties (12/2019: 370,000 sq m and 500,000 sq m 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 per cent to EUR1.5 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 outstanding 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, 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.
The growing prestige of Tattersall Lorenz was further confirmed by a survey of the industry carried out by the European Real Estate Brand Institute, according to which the company has now become one of the top three property managers in Germany. The managing director of the company, Susanne Tattersall, has been appointed to the Eastern Regional Board of the ZIA Zentraler Immobilien Ausschuss. This is in recognition not only of her experience and active commitment to the interests of the real estate industry but also of her importance to the German property management sector.
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.