Head of Residential Real Estate Management Candidate Information Pack
3. Residential Portfolio and Premier PRS
4. Job Description
5. Application Process and Timescales
Dear applicant -
Thank you for taking the opportunity to consider applying for the role of Head of Residential at Real Estate Management (UK) Limited (REM).
REM provide asset management and development services across some of London’s finest real estate.
Currently REM manages a £3.2bn investment portfolio comprising of 2 million sq ft of space in some of London’s most high-profile buildings, in addition to a number of developments with a projected end value of £400m. Specialising in premium commercial, residential, retail and leisure property in some of London’s most desirable locations, REM provides services across the full life-cycle of real estate investments, from acquisition, development and construction to leasing, marketing, and asset and property management. This integrated approach enables REM to provide a seamless service that ensures maximum overall return. Due to the continued growth of the Residential portfolio and desire to create the UK’s first Premier PRS portfolio, a Head of Residential is required to join the highly regarded senior management team.
REM’s assets under management include Western Europe’s tallest building - The Shard, The News Building and residential development project Shard Place, which is due to complete in 2019. REM also project manager Park House in North Mayfair and 48 Pall Mall in St James’s.
Shard Place is the third phase in the development of Shard Quarter. It comprises retail at the lower level and approximately 165,000 sq ft of residential space over 26 storeys. Shard Place will provide 148 high-quality apartments to address both the business and growing tourism markets. The project occupies two existing sites: the old Fielden House at 28 London Bridge Street and 21-27 St Thomas Street. Designed by the Shard and the News Building’s architect Renzo Piano, the project will complete the transformation of Shard Quarter.
165,000 sq ft 148 apartments Designed by Renzo Piano Residential and retail Estimated Completion: 2019
THE RESIDENTIAL PORTFOLIO
The residential portfolio comprises of three main assets, the apartments in The Shard, the residential element of Park House on Oxford Street and the new Shard Place development at Shard Quarter.
Unusually, all of the assets are being held and will become a PRS portfolio of significant scale once The Shard Apartments and Shard Place are completed. The target market for the units is towards the top end of the market at the prime to super prime price point.
REM aims to offer service standards of the highest level, including a range of services beyond those availiable in other premium developments.
Job Title: Head of Residential Reporting to: Director of Property Management, Real Estate Management (UK) Limited Department: Head Office
To define, implement and develop REM’s successful entry, on a portfolio basis, into the Private Rented Sector (PRS) in London.
To maximise “1st mover” advantage for a portfolio PRS business model combining luxury standards and services delivered with “best in class” efficiency.
To ensure any PRS strategy embraces all relevant functions, processes and stakeholders, and is implemented with maximum appropriate speed, and minimum business and operational disruption.
2. Key Responsibilities:
• Analyse, define and secure approval for the PRS Letting Plan, including appropriate financial modelling and anticipated budgets. • Analyse, define and implement appropriate products and services propositions to deliver the PRS Plan. • Define & deliver the PRS Letting Plan. • Deliver effective set-up and stabilisation of lettings on all portfolio PRS assets. • Define, implement and develop appropriate commercial mobilisation plans aligned to REM’s PRS strategy. • Define & deliver a post launch asset management strategy for REM’s PRS portfolio. • Identify and build highly effective working relations with all relevant service partners. Negotiate and manage these commercial relationships to ensure delivery of the PRS Plan. • Define and implement a comprehensive PRS Plan tracking system, and ensure all appropriate stakeholders are engaged with, and informed of, progress and/or roadblocks. • Ensure all process, system, and operational improvements derived from the PRS strategy and implementation are culturally and organisationally embedded and sustained. Experience: Proven experience of PRS is essential, ideally including exposure to both the London Prime Residential and Super-Prime lettings market and the rapid turnover sectors. Proven experience of maintaining the commercial performance of a PRS portfolio is essential. Skills: • Team player. • Confident and inspiring presenter, with the ability to secure buy-in from owners, executives and staff equally effectively. • Attention to detail and able to handle complex information from multiple sources. • Analytical and numerate. • Can set clear goals and objectives, and drives relentlessly for delivery. • IT literate with a minimum intermediate or advanced level in Microsoft Office. • Expert negotiator. 3. Knowledge, Experience and Skills Required: Knowledge: A degree level education intellect (ideally at the higher degree level) is essential. Membership of relevant professional bodies, for example, RICS, BFIM, ARLA is desirable, but not essential.
4. Person Specification:
• Highly commercial; focusses on commercial delivery rather than property management. • Effective communicator; consistently secures engagement and commitment to the PRS Plan from all levels of the organisation. • Determined and tenacious; not afraid to set and demand high personal standards and require the same of others. • Knows how to prioritise critical objectives and balance this with ongoing, short-term requirements. • Independent and self-motivating, but is comfortable operating effectively in complex teams. • Highly curious and analytical; makes links and connections to create novel solutions and rarely takes an issue at face value. • Flexible and adaptable; capable of recognising the need to adjust or re-focus plans and objecties. • Conveys gravitas and establishes trust and confidence at all levels quickly and is seen as a good “sounding board”.
5. Key Relationships/Stakeholders:
• REM Board. • REM Executive Management Team. • Shard Quarter team. • All relevant UK regulatory bodies. • All relevant UK professional teams. • All relevant UK public authorities.
1st Stage interviews will take place during the week commencing 4th December 2017. 2nd stage interviews will take place during the week commencing 8th January 2018.
The Management Recruitment Group is managing this search in partnership with Real Estate Management (UK) Limited.
To apply or for any further information please contact Piers Edgar or Matthew Evans at The Management Recruitment Group. email@example.com | 07792 222 621 firstname.lastname@example.org | 07854 865 017
Closing date for applications Friday 1st December 2017.
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