PROPERTY DIRECTOR
LIMITLESS AMBITION | LIMITLESS POTENTIAL | LIMITLESS IMPACT
INTRODUCTION
The University of Reading is seeking to appoint a Property Director to lead the strategic and operational management of the University’s investment property portfolio. The University of Reading is a global university that enjoys a world-class reputation for teaching, research and enterprise. 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 investment portfolio, which sits separately to the operational estate, 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 frommulti-national corporations to individual partners. Reporting to the Chief Financial Officer, the Property Director is responsible for strategic and operational asset management across the University’s investment portfolio. The Property Director will lead a team that undertakes a broad range of activities including L&T, lettings, and asset and property management. This is an exciting opportunity for an experienced property professional to take ownership of a significant investment portfolio that supports the continued success of a renowned education institution.
ABOUT UNIVERSITY OF READING
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 19,000 students, 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 of Reading, 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 University of Reading at a glance
Ranked 29th among UK universities 98%
Awarded Silver in the Teaching Excellence Framework 84% overall student satisfaction remains high, matching the sector average We are a Stonewall Top 100 Employer 22,480 students from around 175 countries
of our research is internationally recognised and 78% is internationally excellent More than 40% reduction in carbon emissions from 2008/09 baselines
THE ROLE
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 investment portfolio, which sits separately to the operational estate, 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 frommulti-national corporations to individual partners. Reporting to the Chief Financial Officer, the Property Director is responsible for strategic and operational asset management across the University’s investment portfolio. The Property Director will lead a team that undertakes a broad range of activities including L&T, lettings, and asset and property management. We are seeking an individual with experience and a proven track record in a senior and strategic role as the lead property professional across a diverse estate portfolio. You will have demonstrable breadth of experience in the property industry, with exposure to transactions, asset management and property management and will possess the leadership abilities to manage, develop and motivate an internal property team. The role calls for an individual with excellent interpersonal, communication and negotiating skills, with an entrepreneurial, self-motivated, and dynamic mindset.
JOB DESCRIPTION
Supervision received The post holder will report to the Chief Financial Officer. Contact There will be frequent and regular contact with a variety of senior stakeholders from across the university, particularly its operational estates team, maintenance, projects, procurement, and legal departments. Liaison with Finance and HR for day to day management of the team and budgets under the responsibility of this role. 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. Purpose This is a critical role for the University, providing strategic oversight and management of the University’s investment property/land portfolios (including some acquisitions and disposals), advice in this regard to our University Council/Trustees and independent Trust Committees and working collaboratively with other Directors (for example in Estates and planning, Commercial) in the University to secure best returns. This role works alongside those managing the academic estate to provide a seamless service to all occupiers. The post holder will report to the Chief Financial Officer, a member of the Executive Board, leading the Property Services Department, which is responsible for delivering financial returns from the university’s estate where not utilised for academic purposes or as Halls of Residence. The role entails identification of opportunities for income generation, managing leases and third parties, and mitigating risk using RICS standard professional property expertise. The Property Services Department comprises 4 full time and 2 part time staff, with further management responsibilities extending to a wide range of external consultants and contractors as well as interacting with other University Departments including the in-house Maintenance team. An ability to secure, nurture and grow professional expertise within the Property Services teamwill be important.
JOB DESCRIPTION
Purpose The majority of the university’s investment estate is linked to the University’s three main campuses and farm operations; tenants are often collaborating organisations who work closely with our education function; however, whose commercial interests are distinct therefore needing tenant and lease management to defend the university’s risk and further its financial interests. The University has a business campus, Thames Valley Science Park and it is envisaged that its’ scope will continue to expand and increase with the formation of a separate entity. The operational running of this site is included in the portfolio of this role currently, and involvement with this expanding project may change as the project matures.
The Property Services Department manages over 350 lettings, from large to small, including houses, HMOs, offices, laboratories, retail, industrial open storage, farmland lettings and telecoms towers amongst other uses. The annual maintenance budget reflects approximately £1.8m per annum across the investment estate and the rent collected by the department is up to £5m per annum. The Director needs to be confident working within a complex organisation, and able to communicate property matters clearly and diplomatically to a variety of stakeholders. Commercial acumen, professional RICS expertise together with a headline understanding of the importance with Health and Safety and statutory regulations is required. Ability to provide high quality verbal and written reports and performance updates, often to tight deadlines, is also essential to this role.
JOB DESCRIPTION
Main duties and responsibilities • To provide strategic oversight and leadership of the investment property and land portfolio, to complement particularly the work of the Estates and Commercial teams • Representing University client-side interests on lettings and commercial and lease dealings with third parties. This can be complex in a University setting. • Directing consultant commercial and residential negotiating agents and support services to optimise financial returns and mitigate risk, whilst ensuring the University’s corporate and reputation and sensitive objectives are fully met. • Providing in–house RICS professional property expertise where the University values, manages and occasionally transacts property. Provide strategic valuation and property advice to the University relating to transaction both into and out of the Estate and capital investment into investment property assets, to include carrying out investment and financial appraisals to demonstrate suitable levels of financial returns and value for money. To be carried out in accordance with the requisite RICS Guidance Notes and Practice Standards • Oversight of planned and reactive maintenance and FM of the leased element of the estate, to budget, and to keep the standard of properties compliant with regulations and in good condition. • Lead on the annual balance sheet valuations, undertaken in accordance with a RICS ‘red- book’ approach, and support our Finance Department on its annual Audit with regard to property assets. • Oversight of the Property Services Department’s work on the university’s insurance valuations and business rates matters.
• Manage and support staff to ensure the general smooth operation of the department, identifying talent and growing skills and allocating appropriate training and professional development. The Director will ensure responsibilities are held by staff with the appropriate level of training, expertise, and qualifications. • Manage the university wide property database and linked to this report to Committees and Boards to best enable and formulate land and property strategy using clear written papers and performance dashboards. • Provide expert town and country planning advice and property development support and advice to the University and in relation to the investment estate, working alongside the Estates and Planning function • Manage a constant workload of lease renewals, renegotiations, new lettings, and lease expiries including dilapidations. • To support the wider university’s senior management and other departments and functions on all aspects of property acquisition, disposal, financial reporting, and strategic and operational decision making. • To perform line management duties for Property Services team including recruitment and selection of teammembers, applying reward mechanisms, performance management and development. • To contribute to the senior management of the University as part of the Leadership Group. • To participate in, and where appropriate lead, relevant University Committees and working groups.
PERSON SPECIFICATION
Criteria Essential Skills Required
• Member of the Royal Institution of Chartered Surveyors (RICS) - ideally Gener • Asset and property management experience and readiness to deal with a vari large lettings across both residential and commercial uses • Ability to understand statutory regulations and sufficient awareness to manag transfer through negotiated leases such risk and costs to third parties. • Ability to manage financial controls and processes, and set annual budgets, wh performance accounting. • Diplomatic yet assertive where necessary, with an ability to report on complex concisely to Boards and Committees through verbal and written reports. • A demonstrable broad property experience, including landlord and tenant neg management oversight and contractor management. • Strong IT skills using a variety of databases and ability to collate read, summar property management information is held in a transparent and resilient way. • Well-established track record as a practicing RICS registered Chartered Surve • Experience managing and working with multi-disciplinary real estate teams. • Ability to act as a senior leader within a complex environment • Residential and commercial property expertise • Letting and lease negotiation • Tenant and lettings management • Working in and managing successful RICS qualified multi-disciplinary surveyin • Ability to make decisions and take responsibility, and to lead a department wh ethos culture where challenges are openly shared then solved • Calm under pressure, and able to address problems and challenges with good disposition at all times • Pro-active • Well organised • Collegiate leadership style, combined with interest in growing and supporting • Ability to summarise key information in a clear concise way • Understanding of best practice and good governance. • Car owner and driver for transfer between sites and properties managed by th • Expertise in property and asset management • Financial performance management expertise • Landlord and tenant / lease expertise • Staff leadership and personnel management
Attain- ment Knowl- edge Relevant Experi- ence
Disposition • Tenacious when working with complex processes and workflows • Self-motivated and able to use initiative
Other
Desirable
ral Practice division. ied estate with small and ge risk and where able hich will be subject to x matters clearly and gotiations, property rise information, and ensure
• Experience working for or within reputation sensitive organisations • Entrepreneurial instinct balanced with good risk management skills • Construction and building pathology knowledge • Transaction and management skills relating to full spectrum of land uses from farmland to laboratories • RICS Town and Country Planning and development expertise
eyor.
• Further property and H&S related qualifications such as CABI, NEBOSH etc.
• Building surveying knowledge • Project management experience • Facilities management knowledge • Knowledge of the HE sector
• Experience of working in performance driven and complex organisations where property performance is balanced with reputation and other operational drivers • Ability to embrace all levels of work, with a strong grasp of operational detail alongside strategic thinking
ng teams
hich has a performance d humour and a professional
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• Ability to work quickly under pressure
he University.
FURTHER INFORMATION AND HOWTO APPLY
The post offers a salary level which will ensure that the University is able to attract industry leading professionals at circa £85,000. In addition to basic salary the University offers a generous benefits package including: • USS pension scheme with 21% contribution from the University • 32 days holiday (including closure days at Christmas and Easter) + bank holidays • Concessionary course fees • Interest free season ticket loans and a range of other optional salary exchange tax benefits
Application Process Applications should consist of a CV and covering statement outlining key matching experience and rationale for applying for the post. Applications should be sent to; Applications should consist of a CV and covering statement outlining key matching experience and rationale for applying for the post. Applications should be sent to; Stephanie.howe@mrgpeople.co.uk For a confidential and informal discussion, please contact the University’s appointed recruitment partner Stephanie Howe at The Management Recruitment Group. E: stephanie.howe@mrgpeople.co.uk The closing date for applications is 20th June 2021. Following the closing date, applications will be reviewed and The Management Recruitment Group will undertake preliminary meetings with selected candidates on 24th, 25th and 28th June. Interviews with the University will take place on Tuesday 6th July 2021. Stephanie Howe T: 020 7959 2368 M: 07932717431
51 Eastcheap, Billingsgate, London EC3M 1JP Tel 020 3962 9900
LIMITLESS AMBITION | LIMITLESS POTENTIAL | LIMITLESS IMPACT
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