Director of Housing and Investment Property London Diocesan Fund Candidate Information Pack
Introduction About Us The Vision & Strategy The Portfolio Job Description Benefits Diversity & Inclusion Key Dates
Introduction Dear Applicant, Thank you for taking the time to find out more about the appointment of the Director of Housing and Investment Property role. The Church of England in London is vibrant and at the heart of communities throughout the capital. The Diocese of London comprises parishes, chaplaincies, and missional communities in London north of the River Thames. At the London Diocesan Fund (LDF), we seek to do all that we can to support mission and growth in the Diocese of London, using our resources to help our parishes and worshipping communities serve over 4 million people. The Director of Housing and Investment Property is responsible for the LDF’s £1bn property portfolio. The primary purpose of the role is to ensure that all operational houses, parsonage developments and investment properties are managed effectively to maximise the missional and financial return. The successful candidate will be responsible for creating and leading a property strategy to support the new Diocesan vision and strategy which is currently being developed to follow on from Capital Vision 2020. The appointment of the Director of Housing and Investment Property is required due to the retirement of the current postholder in June 2020, following 20 years’ service. I hope that the following information provides greater detail regarding the Director of Housing and Investment Property appointment and I hope that you may consider applying. Richard Gough General Secretary, LDF
About Us We serve a population of over 4m people covering 277 square miles of Greater London north of the River Thames and west of the River Lea, from the Isle of Dogs in the east to Staines in the west and as far north as Enfield. In its current form, our Diocese covers 17 boroughs in Greater London, in whole or in part, and also the district of Spelthorne in Surrey. It is coterminous with the historic county of Middlesex. The area we serve is predominantly urban, although there are significant suburban areas and even rural parts to our northern and western fringes. Within the Diocese of London, there are: • 500+ worshipping communities • 1,000 clergy and ministers • 200 men and women in training for ministry
• 75,000 adults on electoral rolls • 70,000+ regular worshippers • 150 church schools • 52,000+ pupils
• 150+ chaplaincies in schools, colleges, hospitals, the Metropolitan Police, Heathrow, railways, prisons, theatres, the forces, football clubs, Canary Wharf, livery companies, shops and City institutions • £1,000,000s raised each year for charities around the world • 1,500,000+ visitors and worshippers in St Paul’s Cathedral each year
The Vision and Strategy for the Diocese The current vision and strategy, Capital Vision 2020, was launched in 2013 and is our collective vision, which emerged from conversations with nearly 2,000 people. It is nearing its natural close in 2020. The new vision (to 2030) and strategy (to 2025) is currently being developed and we plan to launch it in the second half of 2020.
The Portfolio The LDF’s overall Portfolio is valued at circa £1bn and is made up of the Operational Housing Portfolio and Investment Property Portfolio. The LDF manages its own property portfolio and supports parishes in managing their churches and buildings. With the retirement of the current Director of Property we have decided to separate these two activities. We will therefore be recruiting a fellow director to support the parishes in managing their churches and buildings. We are still defining this role and plan to recruit in 2020. The appointed Director of Housing and Investment Property will deputise where required until the incoming Director is selected and will work closely with them once they are appointed.
Operational Housing The operational housing portfolio incorporates the vital homes of the clergy as well as surplus/let assets and opportunity for parsonage development. The portfolio is subject to a rolling 5 year review to ensure that it is fit for purpose and cost efficient in additional to Quinquennial Repairs (cyclical 5 year repairs). Operational Property • 400+ houses of varying ages and sizes •Valued at circa £850m • Expenditure of circa £7m Let Operational Property • 130 properties •Gross income of £3m
Investment Property
LDF’s investment portfolio is valued at c.£100m and comprises of about 30 main assets including office, PRS, industrial, retail and leisure located throughout London and the South East. The current approved strategy seeks to increase income by a further re-shaping of the portfolio and asset management of existing properties.
•The portfolio comprises over 30 assets •Valued at circa £100m •Generates a gross income of £3.8m •Expenditure of £0.8m •Property Management function is supported by external property consultancies •Assets are located throughout London and the South East
Industrial & Logistics • 23% of portfolio weighted to the industrial sector following acquisitions in Basildon, Park Royal and Dartford • Further acquisitions planned •Major tenants include Selco, Halfords, Wolseley and Charlie Bigham’s • Assets include: –Selco, Basildon –Multi-tenanted industrial asset:Purley Way, Croydon –Matrix Trade Park, Dartford Central London Offices • 10% of the portfolio weighted to the office sector •Majority located in the City and West End • Key assets include properties on: –North Audley Street, West End –Cornhill, City –Gracechurch Street, City –Fleet Street, City
Central London PRS • 25% of portfolio weighted to the private rented residential sector • Sales planned to reduce weighting to 10% • Includes prime locations such as Chelsea, Pimlico and City, eg:
–Park Walk, Chelsea –St Mary at Hill, City –Vincent Square, Pimlico
Social Infrastructure • 16% of portfolio weighted to social infrastructure, including education and healthcare • Tenants include:
–Medical Centre, Bayswater –L’Ecole Bilingual, Paddington –Godolphin & Latymer School, Hammersmith
Retail & Leisure • 16% of the portfolio weighted to retail owing to more recent acquisitions in Putney, Tunbridge Wells and Hayes •Major tenants include Waitrose and Sainsburys • Central London leisure holdings in Marylebone, Putney, Mayfair and Whitechapel
Land • 10% of portfolio weighted to land • Site locations within the M25 include Enfield, Ruislip and Sunbury
Job Description
EMPLOYER: The London Diocesan Fund (LDF) JOB TITLE: Director of Housing and Investment Property RESPONSIBLE TO: General Secretary RESPONSIBLE FOR: Staff: 11 team members with 4 direct reports We work within an overall Diocesan vision and strategy. As Capital Vision 2020 draws to a close, we are currently creating our ambitious vision and plans for 2030. Within this, the overall purpose of the LDF is ‘to do everything we can to support the mission and growth of the church in London’. The Housing and Investment Property group plays a key role in helping us deliver this through providing great housing for our clergy, as well as generating significant income and capital from spare housing and our investment property portfolio. There is an occupational requirement that the job-holder is a Christian under the Part 1 of Schedule 9 to the Equality Act 2010. Overview
Main Responsibilities
Strategy and Leadership 1. Participate fully in the leadership of the Diocese as a member of the Senior Management Group, Joint Operations Team, and other bodies, through: a) Contributing to and, with others, shaping the overall strategy for the Diocese and the LDF b) Exemplary living out of the values and spirit of the organisation c) Doing everything possible to ensure the success of colleagues across the LDF and Diocese d) supporting the General Secretary in his/her leadership role 2. Develop, with direct reports and others as appropriate, the new property strategy to support the new Diocesan Strategy. Specifically: a) Ensure that the structure and activities of the H&IP group are aligned with strategic priorities and operational needs. b) Work with the Senior Management Group to ensure that appropriate governance procedures are in place for all aspects of the group’s work and that staff are working and reporting appropriately. Steer proposals through the relevant committees. c) Work with the Head of Environment and Sustainability to minimise our carbon footprint. 3. Provide leadership across the Housing and Investment Property group, encouraging cohesion and shared commitment to the group’s principles and objectives.
4. Develop the Housing and Investment Property group’s focus on forward planning, project management, communication (to a wide range of stakeholders) and customer service. 5. Ensure that each team is managed effectively and efficiently and that the agreed performance targets are achieved. Taking action if agreed targets are not on track to bring them back on track. Operational Housing 1. General Ensure that the team’s activities are underpinned by appropriate service levels agreements in respect of all major aspects of its work, in order to more clearly define and communicate the service level being sought. Ensure key suppliers deliver quality and value. Identify trends and strategic opportunities. 2. Rolling 5 yearly review of housing portfolio Review the suitability of properties to ensure that they are fit for purpose and cost efficient, identifying if the planning context has changed that would permit development to release capital or create more accommodation. 3. Quinquennial Repairs (cyclical 5-year repairs) Ensure that full plans and budgetary provision is made to ensure that all properties are surveyed 5 years after the previous survey and that the works required are undertaken the following year achieving best value and in a timely way.
4. Ingoing works (works undertaken to prepare the house for the next member of clergy) Ensure that ingoing works of an appropriate standard are carried out as soon as properties become vacant to enable us to let properties when vacant. 5. Reactive and minor works Ensure an appropriate timely response, identify trends and issues, resolve issues, communicate well with suppliers and customers. 6. The LDF aims to maximise returns from properties that are let longer term as well as maximising returns from the short term letting of vicarages when there is not a clergy person in post. Parsonage developments Identify opportunities, and maximise the capital returns from obtaining planning permission before then selling on the site. Our broad aim over the next 5 years, is to realise c £10m after costs. Investment property Develop the Investment Portfolio to increase the income and capital returns to benefit both current and future generations. The current approved strategy through to 2023 seeks to increase the net income from £3m in 2018 to £4m and increase capital above the rate of inflation. Property accounting and management information Ensure appropriate financial/data practices are in place, income collected, suppliers paid, debt collected, and financial/operational information recorded. Ensure that, management accounts, statutory accounts and VAT returns are completed on time.
Ensure that high calibre management information is produced to ena- ble performance to be reported, wise business decisions taken, and the
data is appropriately retained. Self and staff management
Create a culture of continuous improvement and development for the benefit of the organisation and individuals and apply personnel best practice so that the LDF continues to be a place existing and new staff want to work. In particular, develop staff so that they achieve what is required for the organisation and themselves, ensure they do the same for staff reporting to them. Specifically: a) Recruit and retain high calibre team members, ensuring that they are appropriately inducted and supported in their new roles. b) Take responsibility for your own learning and development as well as that of your team. Looking for opportunities to develop yourself and the team and suggesting training opportunities when required. c) Conduct effective annual appraisals for team members and hold regular supervision meetings to review progress against agreed targets and objectives, taking appropriate action to ensure that performance problems are identified at an early stage and action taken to resolve them. d)With the support of the LDF’s HR team, conduct an annual training needs analysis and development plan, encouraging team building. e) Live out the diocesan values as an exemplar for your team, modelling effective leadership and collaboration both within the teams and across the diocese. The postholder may be required to undertake any other duties that are commensurate with the role.
Person Specification
Essentials o Able to lead and operate at a senior executive level and deliver income and expenditure targets year on year o Demonstrable strategic thinking and positive impact on organisation objectives o Experience of managing either (and desirable if experience of both) operational portfolios or investment portfolios with a track record of developing the portfolio and managing it effectively o MRICS o Programme/project management expertise o Ability to develop, delegate and empower others and know when to intervene o Ability to see problems from different perspectives and find solutions, agree a way forward and say no when appropriate o Entrepreneurial skills and can-do attitude o Attention to detail o Ability to prioritise and work under pressure o Up to date with residential and commercial Landlord and Tenants legislation o Experienced negotiator with a track record of property acquisitions, sales and management o Thoroughly conversant with development and investment feasibilities and appraisal technics o Strong oral and written communications o A team player o Strong interpersonal skills
Desirables o A knowledge of the Property Management Computer Systems in particular QUBE o Knowledge of Trust and Charities Act Law o Knowledge of the Church of England governance structures (Mission and Pastoral Measure) o Conversant with the Town Planning legislation and procedures o Property valuation and agency skills o Leasehold enfranchisement and residential leasehold extension, valuations and procedures o Driving best value through procurement
Note: This job description does not form part of the employee’s contract of employment but is provided for guidance. The precise duties and responsibilities of any job may be expected to change over time. Job holders should be consulted over any proposed changes to this job description before implementation.
General Conditions
Standards of Behaviour and Conduct Staff are expected to act at all times with due consideration for others and in a manner befitting their position as employees of the Church and as
professionals, whatever their job. Health and Safety Responsibilities
All LDF staff are required to ensure that they understand and accept the legal duties placed on them by the Health and Safety at Work Act not endanger themselves or others by any act or omission on their part and by the Management of Health and Safety at Work Regulations to co-operate with colleagues and management in the control of health and safety at work. Therefore, staff are required to: • read, understand and abide by the LDF Health and Safety Policy; • make themselves familiar with accident and emergency procedures for their site; • inform their manager immediately of any health or safety deficiencies or dangerous situations or near misses; • set a good personal example in respect of health and safety. Confidentiality Staff must not pass on to unauthorised persons, any information obtained in the course of their duties without the permission of their line manager.
Benefits Pension: The appointed person will be eligible to join the occupational pension scheme, which is currently 15% employer contribution and min 3% employee contribution Health Insurance: Available after completing one year’s service. Working Hours: 35 hours per week - Monday to Friday 9am to 5pm exclusive of Public Holidays. Season Ticket Loan: Staff are eligible to apply for an interest free season ticket loan.
Diversity and Inclusion
We understand the benefits of employing individuals from a range of backgrounds, with diverse cultures and talents. We aim to create a workforce that: • values difference in others and respects the dignity and worth of each individual • reflects the diversity of the nation that the Church of England exists to serve • fosters a climate of creativity, tolerance and diversity that will help all staff to develop to their full potential We are committed to being an equal opportunities employer and ensuring that all employees, job applicants, customers and other persons with whom we deal are treated fairly and are not subjected to discrimination. We want to ensure that we not only observe the relevant legislation but also do whatever is necessary to provide genuine equality of opportunity. We expect all of our employees to be treated and to treat others with respect. Our aim is to provide a working environment free from harassment, intimidation, or discrimination in any form which may affect the dignity of the individual. Equal treatment amongst differing people from diverse backgrounds is one of the central precepts of the Church of England’s mission and theology. The Church of England values the richness which this equal treatment brings to the workplace.
Key Dates
The Diocese of London is being supported on this recruitment campaign by the search consultancy The Management Recruitment Group (MRG). To arrange a confidential briefing conversation please contact our advisor Stephanie Howe (stephanie.howe@mrgpeople.co.uk) MRG on 0203 962 9900. Applications should consist of a comprehensive CV (of not more than 4 pages) and a covering letter (of not more than 2 pages). Closing date for applications is midnight on 5th January 2020. First stage interviews with MRG to take place w/c 6th January 2020. First stage interviews with The Diocese of London are scheduled for w/c 20th January 2020. Second stage interviews with The Diocese of London are scheduled for 27th January 2020.
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