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.
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