Martins Properties
Asset Manager Candidate Information Pack
Contents
Page
About
3
Mission Statement and Values
4 5 6 7
Strategy
Board Organogram Team Organogram
Meet the team Role Summary
8 – 13
14 – 15
Required Skills
16 17
Contact
About Martins
Martin's Properties are a family owned, active, dynamic and ambitious property company with a prestigious property portfolio worth up to £352 million across Fulham, Chelsea and Kensington. Their assets include a mix of commercial, retail, residential, office, leisure and mixed use properties. Martins are looking to grow the business over the next 7 years towards £1bn of net assets and are aiming to diversify geographically and sectorally. The focus going forward will be on London fringes and M25 towns in the office, retail, industrial, PRS and hotel sectors. The balance weighting of the portfolio will be 50% core income, 30% asset management and 20% development. The company has very low gearing at 18% and acquisitions and developments are funded through internal cash resources. The company has been established over 70 years and its values remain at the heart of the business. The family shareholders delegate the management of the business to an independently chaired Board. The Executive Board compromises of Tom Martin (CEO), Paul Nicholson (FD) and Richard Bourne (Property Director).
Martin’s Properties is a customer and community facing business with a focus on creating and managing sustainable, well-designed buildings that enhance the local environment and deliver exceptional customer service.
Mission statement and Values
We are One Tea
mWe value
our customers We are open and honest in our communication We trust and respect individuals
It is our mission to be a dynamic, proactive, customer focussed real estate business that is commercially strong and true to its values. We are a business which is visionary, ethical and performs in ways that are sustainable and profitable for the benefit of our customers, our staff, shareholders and the communities in which we operate. Martins Properties has a set of values which we are all expected to uphold during our working day. These values are a great way of making sure we are all clear about what is important to us and how we should behave towards our customers, clients, visitors and each other.
We act with integrity
We make a positive impact on our community and the environment
We operate to the highest professional standards
We develop the skills and capabilities of our team
We are individually and collectively accountable to our Mission Statement and Vision
Strategy
By March 2024, we will be an active, dynamic and fully diversified property company in terms of geography, sector and lot size that distributes a minimum dividend of 1% of Net Asset Values (NAV) annually to Martins Family Holdings (MFH) and showing sustainable Earnings per share (EPS) growth year on year. ž Our portfolio will have a balanced risk/return mix with core income, active asset management and development assets delivering a 5%+ blended income yield and strong capital growth.žž The business will seek to achieve the higher income return and deliver the Vision through:ž – Acquiring assets in a wider geography to deliver higher returns and diversify riskž – Ensuring individual assets do not exceed 8% of the capital value of the portfolio to diversify riskž – Acquiring a wider mix of sectors to diversify risk and achieve higher returnsž – Achieving a risk/return mix with 50% in secure income, 30% in value-add and 20% in development
Indicator
Current
Proposed (By March 2024)
NAV
£369m
£550m (+52.4%)
Revenues
£11.2m
£22.0m (+101.8%)
Portfolio Income Yield
3.02%
4.00% (+98bps)
Investment Income Yield
3.70%
5.00% (+130bps)
Profits after tax
£2.85m
£10.0m (+250%)
Dividends
£1.25m (0.4% of NAV)
£4.13m (1.0% of NAV)
Reinvestment
56%
55%
Board Organogram
MARTINS FAMILY HOLDINGS LTD
MARTINS PROPERTIES HOLDINGS LTD
NON EXECUTIVE
EXECUTIVE
CHAIRMAN Neil Sachdev
MANAGIN G DIRECTOR Tom Martin
NON EXECUTIVE DIRECTOR Emma Carlton- Smith
NON EXECUTIVE DIRECTOR Peta Martin
FINANCE DIRECTOR Paul Nicholson
NON EXECUTIVE DIRECTOR Jane Moriaty
NON EXECUTIVE DIRECTOR Rex Newman
PROPERTY DIRECTOR
Richard Bourne
Team Organogram
MARTINS PROPERTIES HOLDINGS LTD BOARD
Executive Assistant Abbie Walsh
Managing Director Tom Martin
Finance Director/COO Paul Nicholson
Property Director Richard Bourne
Personal Assistant Kim Stanton
Interim Financial Controller Alex Sini
Commercial Asset Manager TBC Residential Asset Manager Armanda Keith Project Manager TBC Small Works Project Manager Chris Darke
HR Manager Andrea Lewis
Office Admin Manager Thomas Rogers Front of House/Team Assistant/ H&S Administrator Felicity Williams
Cost Accountant
Purchase Ledger Kirti Varsani
Facilities Manager Debbie George
Property Accounts Administrator Emma Osborne
Caretaker/Engineer Eri Deda
Property Analyst Celia Harrison
Meet the team
Tom Martin – Managing Director Tom is Managing Director and a shareholder of Martins Properties and a third generation family member. Tom trained as a Surveyor. Through his career he has worked both in advisory and principle roles, and has over thirty years of property investment, asset management and development experience. Tom has ultimate responsibility for the company’s performance. He is responsible for all aspects of the business. He reports to the Chairman and shareholders while ensuring the company strategy is followed through. Paul Nicholson – Finance Director Paul has over 20 years of experience in senior finance and management positions in the property sector. Paul joined Martins in 2011. Prior to joining Martin’s Properties he was a CFO and subsequently Managing Director of O&H Properties, a privately owned property investment and development business, helping to grow the business significantly during his tenure. Richard Bourne – Property Director Richard has over fifteen years of property investment, asset management and development experience. Richard joined Martins in April 2017.
Meet the team Andrea Lewis – Cost Accountant and HR Manager Andrea has worked at MPCL since 1997. She is our Cost Accountant and HR Manager. Andrea studied Business and Finance and has over 25 years accounting experience. Since 2009 Andrea has headed the HR department of MPCL and subsequently gained her Associate CIPA membership. Emma Osbourne – Property Accounts Administrator Emma has been working at Martin’s Properties since September 2012 as the Property Accounts Administrator, having previously worked in a similar role for 15 years. Her main responsibilities include credit control, balancing the service charges, arranging the insurance for the portfolio and updating Qube with new tenancies and rent reviews . Kirti Varsani – Purchase Ledger Controller Kirti is Purchase Ledger Controller with 13 years’ experience working with Martin’s Properties (Chelsea) Ltd, prior to that she worked as an Accounts Assistance for Intertek Testing Services .
Meet the team
Armanda Keith – Residential Property Manager Armanda is our Residential Manager, She has worked at Martins Properties since 2009. She was born in South Africa with Portuguese roots. In 2001 she moved to London in search of new challenges and became a British Citizen in 2014. Armanda has over 16 year’s property experience, seven of which have been at Martins. Chris Darke – Small works Project Manager Chris’s experience comes from both an architectural and film and television industry background, in both project management and property management roles. Debbie George – Facilities Manager Debbie joined Martins Properties in July 2017 as our Facilities Manager, bringing almost 20 years of operational and customer service experience in the commercial property industry. Her key responsibilities include providing good customer service, ensuring compliance with current legislation and maintaining our residential and commercial properties to the highest standard..
Meet the team
Celia Harrison – Property Analyst Celia joined Martins Properties in July 2017 as the Property Analyst. She has considerable experience appraising property throughout the UK and providing multi-sector portfolio analysis. Kim Stanton – PA to Property Director Kim joined Martins Properties as PA to the Property Director in April 2017 with a background in Property and Executive Search. Abbie Walsh – EA to Managing Director and Finance Director Abbie joined Martins Properties in September 2017 as Executive Assistant. She is currently supporting the Managing Director and Finance Director. Having been an Executive Assistant for the past 3.5 years, she has experience branching from Property and Telecommunications.
Meet the team
Thomas Roger – Office Manager Tom joined Martins Properties in August 2017 as Office Manager for the company. Tom has a background in renewable energy investment but joined Martins Properties to expand his experience in the property market.. Felicity Williams – Front of House/Team Assistant Felicity joined Martins Properties in August 2017, her main responsibility is as our front of house, office admin and working closely with our health and safety advisors monitoring projects as well as the office environment. Eri Deda – PPM Engineer Eri has been with Martin’s Properties since 2007. During these 10 years he has gained a lot of experience. Eri has the role of Planned Preventative Maintenance engineer doing health and safety checks, PPM tasks and reactive maintenance jobs .
Meet the team
Alex Sini – Financial Controller Alex joined Martins Properties in August 2017 as Financial Controller. She is a qualified accountant (ACCA) since 2005. Her key responsibilities at Martins are Statutory Accounts, Audit, Management Accounts, Budgeting and Cash flow forecasting
Asset Manager – TBC
Project Manager – TBC
Role Summary – Asset Manager
“We are seeking to find a dynamic, customer focussed individual to join our team in order to manager the commercial assets in the portfolio. They will be responsible for building relationships with our existing commercial customers and maximising returns from the assets through strategic planning, asset management, marketing and leasing.”
Key Responsibilities
• Maintaining asset strategies and reviewing monthly • All strategies and capital expenditure require sign off from an Executive Director or Capital Committee • Undertaking full due diligence on investment acquisitions • Producing complete information for monthly Capital Committee meetings, Board meetings and Exec Meetings • Delivering the asset strategy and maximising the performance of the asset • Marketing, leasing and disposal of the asset, including managing external agency teams • Setting required specs and briefing the Project Manager on presentation of properties for letting etc • Setting required service charge budgets and briefing the Facilities Manager accordingly to manage and present the asset to the highest standard • Managing lease renewals at breaks and expiries in a proactive manner • Keeping vacancy rates to an absolute minimum • Liaising with the Facilities Manager, Analyst and Finance department to provide data for KPI’s • Maximising net returns by reducing property costs such as rates, utilities and services when vacant • Managing rent reviews proactively and documenting the same by the way of a rent review memo • Minimising rates bills through deletions, appeals and mitigation • Settling dilaps claims quickly and liaising with the Project Manager for large reinstatement works • Producing DCF appraisal/valuations for each property under management using Argus software • Producing valuations of all investment assets in the portfolio bi-annually • Producing full year end valuations by mid-April each year • Coordination and oversight of the annual independent portfolio valuations.
Required Skills & Qualifications
Asset Manager: •
RICS qualified
Problem-solving and analytical skills
• • •
Time-management skills
Budgeting skills
• Excellent interpersonal and communication skills • Customer focussed • Good organisational and planning skills • Team player Project Manager: • A dynamic, enthusiastic and experienced individual to join the team and deliver the exciting growth plan • Ideally someone with previous contractor experience but also experience at project management within a property company • They will oversee all of the construction process within the organization, ensuring that all sites comply with our process and procurement method and work with the framework design team • They will effectively act as the internal client representative but will need to have experience, flair and talent to overcome issues on site and ensure projects are delivered on time and on budget • A focus on enhancing value, quality and consistency as well as cost control • Relevant experience in complicated London refurbishments and developments • Heritage and listed building experience preferred • RICS/AIOB qualified
Contact
For a confidential and informal discussion please contact our appointed recruitment partners at The Management Recruitment Group:
Piers Edgar E: piers.edgar@mrgpeople.co.uk
T: 0207 959 2368 M: 07792 222 621
Matthew Evans E: matthew.evans@mrgpeople.co.uk
T: 0207 959 2368 M: 07854 865 017
The Management Recruitment Group 68 King William Street London EC4N 7DZ
www.mrgpeople.co.uk
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