PROPERTY DIRECTOR CANDIDATE INFORMATION PACK
INTRODUCTION The University of Reading has been at the forefront of UK Higher Education for nearly a Century. We are a global university that enjoys a world-class reputation for teaching, research and enterprise. Key to the University’s success is its estate portfolio - the campuses in Reading and Henley have regularly been voted the best university green space in the UK serving over 19,000 students and nearly 4,000 staff. As well as having a large-scale and diverse operational portfolio the University holds a significant property investment portfolio, which seeks to create and drive long term growth and income opportunity to support the further advancement of the University. The operational portfolio consists of more than 200 buildings and over 250,000m2 of space, spanning academic, research, enterprise, sport, recreation and residential buildings and facilities. The investment portfolio comprises an incredibly diverse variety of land and property including commercial, residential, innovation & enterprise, research & development, industrial, retail and rural space. We have over 500 tenants ranging from multi-national corporations to individual partners. A rare opportunity has arisen to shape the future of property asset management at the University. The Estates team at Reading is re- organising around a ‘one estates’ team ethos that will enable seamless delivery under the 2022–2032 Estate Strategy. Reporting to the Director of Estates, the Property Director is responsible for strategic and operational asset management across the University’s property portfolio. The Property Director will lead a team that undertakes a broad range of activities including L&T, lettings, and asset and property management.
The University of Reading has been at the forefront of UK higher education for nearly a century. Over the decades we have become innovators and pioneers, pushing academic boundaries and leading social change. Home to more than 27,000 students from over 160 countries, the University of Reading is proud to welcome staff and students from all of the world. Our award-winning campuses – in Reading, Henley upon- Thames, Johannesberg, and Iskandar – house contemporary study facilities, halls of residence, support services, cafes and bars. We strive to create a stronger, better University, building on our past to create an exceptional future. Our four guiding principles form the foundation of our Strategic Plan 2020-2026: • a genuine love of learning • creating new knowledge • embracing and celebrating diversity of people and ideas • caring for our environment You can learn more about our history, performance, strategy and economic, social and community impact here. ABOUT UNIVERSITY OF READING
OUR CAMPUS
26 th in the UK 1 st in the UK f or sustainability 27,465 students from around 160 countries TEF sa iwl vaer rd f or teaching excellence
Whiteknights Discover everything our Whiteknights campus has to offer.
London Road Explore our historic London Road campus.
Greenlands Discover the Henley Business School’s Greenlands campus.
£1 bn contribut or t o the UK ec onomy 15 th in the UK for supporting UN global goals
Malaysia Find out more about our campus in Malaysia.
International Learn about the Henley Business School’s international presence.
At the University of Reading we are committed to addressing global problems through our teaching, research and partnerships. Our University Strategy highlights the core values that characterise the University of Reading: a love of learning; creating and sharing new knowledge; embracing and celebrating diversity of people and ideas; and caring for our environment. We have maintained these values throughout our history and they will continue to guide us in the future as we transform the way we work. The Strategy provides a shared set of values for the whole University community, to inform decisions as we approach our centenary in 2026. It sets out the key objectives for the University and also the ways in which we will review and guide our performance, holding ourselves to account using a range of internal measures and external benchmarks such as People and Planet and the Times Higher Education rankings. University Strategy University of Reading at a Glance 2024 UNIVERSITY STRATEGY
Find out about the four principles that define our strategy and underpin our teaching, research and partnerships to address the needs and challenges of a global society.
Community
Excellence
Sustainability
Engagement
More than 51% reduction in carbon emissions from 2008/09 baselines
THE ROLE Post title: Department/Unit: Accountable to: Grade: Accountable for:
Property Director
Grade 9
Property Department, Estates Directorate
Director of Estates Property Department
Purpose To manage and lead the Property Department within the Estates Directorate. The department is responsible for delivering financial returns from the University’s estate through promotion, marketing and negotiation of land deals (sales and acquisitions), negotiation of leases, managing tenants, and engaging with third parties. Most of the university’s investment estate is linked to the University’s three main campuses, it’s science park (TVSP), farm operations and land holdings south of the M4. Tenants are often collaborating organisations who work closely with our academic community, however, there are a significant number whose commercial interests are distinct (e.g. Shinfield Studio’s Ltd) requiring a commercial tenant and lease management approach. The property portfolio includes nearly 400 residential and commercial lettings, from large to small, including: flats, houses, HMOs, offices, laboratories, retail, industrial open storage, farmland lettings, science park and telecoms towers amongst others. The Director will be responsible for both oversight of the associated operational and capital budgets and collection of rental income. The post holder needs to be capable of working within a large and complex organisation, able to communicate property matters clearly and diplomatically to a variety of stakeholders, and
work within a robust governance structure with often tight reporting deadlines. Commercial acumen, professional RICS expertise, together with a broad experience across a diverse range of general practice surveying matters is essential. This will be critical to owning and driving forward the Property Disposal Strategy on the one hand, and leading land development plans on the other, (which may include Loddon Garden Village, Eco Valley and CEDAR research facilities). The Estates Directorate is reorganising around a ‘one Estates’ ethos which presents a good opportunity for the post holder to take a prominent position in ever closer working between the campus development, land management and property departments of the Estates Directorate. Team Structure The Property Services Department currently comprises c14 staff, with further management responsibilities extending to external consultants and contractors. Main Duties and Responsibilities • Provide strategic oversight and direction of the investment property portfolio. • Represent University interests on landlord and tenant matters. • Direct consultant commercial and residential
negotiating agents and support services to optimise financial returns and mitigate risk, whilst ensuring the University’s corporate and reputation objectives are fully met. • Provide in–house RICS standard professional property expertise where the University values and manages property. • Oversee the annual asset valuations and support our Finance Directorate on its annual Audit with regard to property assets. • Oversee the Property Services Department’s work on the university’s insurance valuations and business rates matters. • Manage and lead the Property Department, including recruiting, developing and supporting staff to ensure the smooth operation of the department. This may include reviewing the current line management arrangements as necessary. • Report to senior Committees and Boards to best enable and formulate land and property strategy using clear written papers and performance dashboards [Driving a step change in the current reporting format will be key]. • Management of the plan and budget for land development activities South of the M4 (including commercial development at Thames Valley Science Park (TVSP) and promotion of land at Loddon Garden Village (LGV) for residential led mixed use development. • Report to the TVSP Ltd Board of Directors on a monthly or bi-monthly basis on financial and
operational matters effecting the portfolio, which includes: Reading Enterprise Centre, TVSP Gateway Building, and Rutherford Cancer Centre buildings. • Manage a constant workload of lease renewals, renegotiations, new lettings and lease expiries including dilapidations. • Support the Director of Estates and Executive Board on all aspects of property acquisition, disposal, financial reporting and strategic and operational decision making. Supervision received • The post holder will report to the Director of Estates. Supervision given • c4 direct reports at present. Contact • There will be frequent and regular contact with a variety of senior stakeholders from across the university, particularly the Estates, Finance and Legal Directorates. Terms and conditions • Full time, permanent. • This document outlines the duties required for the time being of the post to indicate the level of responsibility. It is not a comprehensive or exhaustive list and the line manager may vary duties from time to time which do not change the general character of the job or the level of responsibility entailed.
PERSON SPECIFICATION Skills Required Essential: • Member of the Royal Institution of Chartered Surveyors (RICS) - ideally General Practice division. • Ability to understand statutory regulations and sufficient awareness to manage risk and where able transfer through negotiated leases such risk and costs to third parties. • Ability to manage financial controls and processes, and set annual budgets, which will be subject to performance accounting. • Diplomatic yet assertive where necessary, with an ability to report on complex matters clearly and concisely to Boards and Committees through verbal and written reports. • A demonstrable broad property experience, including landlord and tenant negotiations, property management oversight and contractor management. • Strong IT skills using a variety of databases and ability to collate read, summarise information, and ensure property management information is held in a transparent and resilient way. Desirable: • Entrepreneurial instinct balanced with good risk management skills. • Land development transaction and management skills relating to full spectrum of land uses from farmland to laboratories. Attainment • Honours degree in property or construction. • Well-established track record as a practicing RICS registered Chartered Surveyor. • Experience managing and working with multi-disciplinary real estate teams in the UK. Knowledge Essential: • Expertise in property and asset management. • Landlord and tenant / lease expertise. • Expertise in land development & planning. • Staff leadership and personnel management. Desirable: • Financial performance management expertise.
Relevant Experience Essential: • Residential and commercial property expertise in the UK market. • Letting and lease negotiation based on the UK market. • Tenant and lettings management. • Working in and managing successful RICS qualified multi-disciplinary surveying teams. • Asset and property management experience and readiness to deal with a varied estate with both small and large lettings across both residential and commercial uses. Desirable: • Experience working for or within reputation sensitive organisations such as the HE sector. Other Essential: • Tenacious when working with complex processes and workflows. • Self-motivated and able to use initiative. • Ability to make decisions and take responsibility, and to lead a department which has a performance ethos culture where challenges are openly shared then solved. • Calm under pressure, and able to always address problems and challenges with good humour and a professional disposition. • Pro-active. • Well organised. • Collegiate leadership style, combined with interest in growing and supporting staff development. • Ability to summarise key information in a clear concise way. • Understanding of best practice and good governance. • Ability to work quickly under pressure Desirable: • Ability to embrace all levels of work, with a strong grasp of operational detail alongside strategic thinking.
WORKING AT THE UNIVERSITY OF READING
Working at the University of Reading offers an exceptional opportunity to apply your skills and experience. With several Centres of Excellence and proven quality of provision, the University enjoys a world-class reputation for teaching, research and enterprise. We also offer a stimulating and peaceful working environment in one of the UK’s most attractive campuses. Working Together: A Strategy for Success, sets out our plans to continue to improve the working environment at the University. The strategy is at the heart of the emerging University Strategy and recognises the crucial contribution that our people make to the achievement of the University’s aims. These are demanding times for the University and we want to enable everyone to make the best contribution they can as it is only by doing this that we will improve our standing as a leading research-intensive university and become an excellent place for both staff and students to work. The strategy has been refined and informed by results of the Staff Survey. The Values for Working Together and Professional Behaviours complement both the University Strategy and Working Together: A Strategy for Success, and help to provide clarity about common objectives and purpose, and the ways in which we can most productively work together. The Values for Working Together aim to provide a framework within which the University community can work together effectively towards the achievement of excellence. The Professional Behaviours illustrate the types of activity that the University believes will promote excellence and are intended to be applicable to all staff at the University, with the ability to be adapted to reflect the particular needs and circumstances of different roles.
Employee Benefits The University has a wide range of ex cellent benefits on offer to its employees. These can benefit personal and professional development, health and wellbeing, finances, and also help support the University’s policies on issues such as sustainable travel. For employees in roles at Grade 1 to Grade 5 (inclusive), read more about your benefits. For employees in roles at Grade 6 and above, read more about your benefits.
HOW TO APPLY Application Process
For a confidential conversation please contact our advisors Stephanie Howe (stephanie.howe@ mrgglobal.com) or Ben Duffill (ben.duffill@ mrgglobal.com) of The Management Recruitment Group on 020 3962 9900. Applications should consist of a comprehensive CV and a covering letter.
Applications should be sent to: stephanie.howe@mrgglobal.com
The closing date for applications is 6 th October 2024. First stage interviews with MRG will take place w/c 7 th October 2024. Final stage interviews with the University will take place on campus w/c 21 st October 2024.
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