Head of Regent Street Management Direct
Contents 4. Introduction 5. JLL 6. The Crown Estate 7. Regent Street Portfolio and Strategy 8. RSMD 10. Organisational Structure 12. Role Profile - Head of RSMD 15. Programme Timeline
Dear Applicant, Thank you for taking the opportunity to
consider applying for the appointment of Head of Regent Street Management Direct (RSMD).
Over the past 13 years RSMD has gone from strength to strength. Combining the strategy and vision of The Crown Estate together with JLL’s first class Property and Asset Management division, RSMD has created a truly unique platform to provide an operational service delivery model that can only be described as outstanding. Regent Street is an internationally recognised destination located in the heart of London’s West End providing some of the best retail, office, residential and leisure accommodation in the world. The Crown’s continued investment strategy across the Estate ensures that Regent Street remains a globally renowned destination. This is a rare opportunity to work hand in glove with The Crown Estate to manage this unique and iconic portfolio, whilst sitting within the hugely successful JLL PAM team.
JLL is a financial and professional services firm specialising in real estate services and investment management. They have more than 70,000 people in more than 1,000 locations in 80 countries serving the local,
regional and global real estate needs of their clients. JLL is an acknowledged industry specialist in Property and Asset Management for property investors. They are dedicated to adding value to their clients’ assets, reducing operational risk and maximising value for money through the delivery of high quality landlord services to occupational tenants. With over 600 experienced, office-based staff and 650 site-based personnel operating across its extensive UK regional service platform, JLL provide a consistent, market-leading service across all sectors and geographies, managing commercial and retail assets for leading UK and international fund managers, property companies, the government, banks, receivers and financial institutions. JLL’s service is co-ordinated and delivered by bespoke service delivery teams located across their regional network of offices and their headquarters in Central London. RSMD is a vital part of JLL’s Central London team, sitting within the wider Property & Asset Management (PAM) business. It is not a separate legal entity although it adopts The Crown Estate’s Regent Street branding.
“Regent Street Management Direct is a core part of JLL’s Property and Asset Management operation and their relationship with The Crown Estate is strategically important to the wider JLL business. The team is integral in contributing to help shape and deliver The Crown Estate’s vision for the globally iconic Regent Street estate. Nick Lees, Lead Director JLL Property & Asset Management
The Crown Estate belongs to the reigning monarch ‘in right of The Crown’, that is, it is owned by the monarch for the duration of their reign, by virtue of their accession to the throne. But it is not the private property of the monarch - it
cannot be sold by the monarch, nor do revenues from it belong to the monarch. The Crown Estate are successful placemakers, working in partnership with substantial global investors to lead and implement projects that make the most of its assets. As owners of the whole of Regent Street freehold, in partnership with NBIM and with 50% of the buildings in St James’s, Mayfair, they are currently delivering a £1.5 billion investment and redevelopment plan in the heart of London’s West End. Through sales and acquisitions, property development and active asset management The Crown Estate take advantage of a dominant position in its areas of specialism to enhance the quality of its investments and make-up of the portfolio.
Regent Street The Portfolio
With a street frontage of two kilometres and over 10,000 people employed there, Regent Street also receives more than 7.5 million tourist visits a year. The Grade II listed buildings also represent some of the most distinguished and recognisable architecture in London. Its 1.5 million ft of flagship retail space is home to one of the finest collections of international brands in the world including; Apple, Burberry, Hugo Boss, J.Crew, Kate Spade, Michael Kors and Polo Ralph Lauren. Regent Street is also one of London's leading business locations by value with around half of Regent Street's worth is in its office space. It offers one million ft of space, comprising both small offices for growing businesses, and large, modern office floor space for international companies such as BBH, Lloyds TSB and Telefónica. The Regent Street Vision The Crown Estate is committed to its defined £1.5bn investment strategy programme – The Regent Street Vision. The Regent Street investment programme has regenerated and transformed the street into an international retail destination, a successful business address and a place for people. Over the past ten years the redevelopment programme has delivered world-class new buildings, wider pavements, new public facilities, beautiful lighting, great restaurants and a fabulous mix of retail brands. The programme has already been credited with transforming the Street. Now halfway through this programme, it has delivered 10 redevelopments and major refurbishments, comprising 2 million ft (186,000 m). “We know that world class businesses deserve a world class environment. And that’s why we are clear that the ‘bits between the buildings’ are as important as the buildings themselves. So we have invested over £25 million in public realm improvements”. The Crown Estate.
Being branded independently from both JLL and The Crown Estate, RSMD is afforded the opportunity to offer a closer alignment to not only the tenants but also the customers of the Street. This positioning of independence allows RSMD to act in the very best interest of the operational progression of Regent Street.
RSMD is structured around five primary business areas: • Property Management including a landlord and tenant consultancy and oversight of the property accounting team. • Leasing comprising small office lettings (Regent Street Office Direct) and residential lettings (Regent Street Home) • Facilities Management for the day-to-day running of the services in the buildings • Customer Experience for setting the strategy for managing key relationships with customers and community stakeholders. • Sustainability, managing the client’s implementation of its responsible investment strategy in Regent Street.
“The Regent Street Partnership is committed to the continued transformation of Regent Street through a £1bn investment programme. Customers for this world class retail and office destination demand the highest standards of property and facilities management from our dedicated partner team at JLL, operating as RSMD. Leadership of the on street team, comprising surveyors, facilities managers and customer experience, sustainability, finance and lettings professionals, requires a broad range of skills, experience and innovation to
continue to drive performance”. Bob Dawson, Portfolio Manager - Regent Street, The Crown Estate.
The team comprises 54 people across these five areas of business, all based in Regent Street, excluding one accounts professional. In Regent Street, in addition to the principal office in Heddon House, the five building
clusters have small local offices or workstations in managed buildings. RSMD, with Regent Street Office Direct & Home, is responsible for:
A portfolio of 130 properties across retail, office, residential and leisure sectors
An annual service charge of approx. £20 million
An annual rent roll of circa £150 million
Letting or renewing 150 office leases and 80 residential tenancy agreements per annum.
Approx. 80 properties with direct management responsibility
VACANCY Head of RSMD
Role Profile - Head of RSMD
Leadership of the dedicated JLL team managing the Regent Street property portfolio on behalf of The Crown Estate for The Regent Street Partnership with Norges Bank Investment Management. People Management and Leadership A proven leader of people, capable of getting the most out of a diverse and multi-disciplinary team on a large scale, ideally above 25 personnel. Understanding the mutual and strategic goals of both JLL and The Crown Estate and ensuring that through the various teams these objectives are seen through to completion. • Provide outstanding leadership of RSMD both in terms of direct employees and RSMD’s supply chain to maintain a high standard of service delivery encompassing technical innovation, sustainability and customer focus. • Recruitment, motivation, performance management, goal setting, training and development of direct reports and, via them, all team members. • Maintain a talent succession plan for key roles (direct reports) in RSMD. • Maintain a purpose for RSMD covering the ambition, values, beliefs, character and focus for the team. • Be the ambassador for RSMD, aligning its behaviours and culture with the “Loyalty Beyond Reason” ambitions underpinning RSMD’s business purpose. • Where appropriate, align RSMD with JLL values of teamwork, ethics and excellence in order that the RSMD brand supports JLL business ambitions. • Create a culture of inclusion across the delivery chain which supports the value of diversity and inclusion as a competitive advantage. Operations Ability to operationally manage the outputs and performance of RSMD, meeting its various responsibilities under the contract with The Crown Estate. Ensuring that the quality of service is achieved through class leading performance to the agreed KPIs. Maximising JLL’s revenue from the instruction, cross-selling where possible and ensuring cost effective delivery. • Overall responsibility for reporting RSMD strategy and operations to the client. Regularly reporting key team issues to the client including organisational structure, staff changes and team initiatives. • Maximise JLL’s long term revenue from the instruction across contractual income, advisory services or ad-hoc sources and ensuring performance management fees are maximised. • Where appropriate, share information and facilitate cross-selling opportunities for additional services and explore with the client additional service provision opportunities. • Maintain cost control and contribute to JLL UK PAM profitability targets.
• Explore service delivery efficiencies in team structure, use of technology and process to release efficiencies on behalf of the client and JLL. • Maintain the RSMD business plan and report progress against it to JLL RSMD Oversight Group and, where applicable, the client. Communicate the plan to those responsible for delivery and share with the team as a whole. Review and update the plan at least annually
with senior team in RSMD. Stakeholder Management
Guaranteeing that The Crown Estate’s vision for exceptional service to its customers, of which it is renowned, is delivered whilst ensuring that this mentality is instilled within the Regent Street Management Team and is delivered wholeheartedly without exception. Optimising and engaging JLL’s wider UK Property & Asset Management division, as well as leading RSMD’s working relationships with the client’s lawyers and other managing agents. • Accountability for the operational outputs and performance of RSMD (property management and leasing) and meeting its responsibilities under the contract with the client. Ensuring delivery of class-leading quality of service and adherence to KPIs. • Optimise the interdependency between JLL and RSMD for the benefit of talent management, process effectiveness and efficiency, business development, governance and profitability through the RSMD Oversight Group and the integration groups. • Contribute to the development of JLL UK PAM operational strategy and performance in conjunction with PAM Directors and Managers. • Liaise with other JLL managers so as to understand JLL’s priorities for business development and operational management and share these with RSMD team members where applicable. • Leading RSMD’s working relationships with the client’s lawyers and other managing agents • Facilitate internal and external communications and visibility as RSMD’s spokesperson. Technical An in-depth understanding of the property management, facilities and estate management sector. Demonstrable expertise in Landlord & Tenant, Asset Management, Leasing and Property Management. • Maintain areas of individual expertise in commercial real estate asset management, landlord and tenant, leasing and property management for sharing with team members, colleagues in JLL, problem-solving and troubleshooting and reporting to client.
Personality Profile Detail oriented, systematic and diligent in approach to business and reporting. Be comfortable working with the various JLL and Crown Estate processes in order to tightly manage the information and standards expected by both. Managing changes in the structure and processes to a diverse group, promoting best practice and strategic advice where appropriate. • Leadership skills: leading by example with good persuasion and change management skills. • Strategic skills: ability to formulate and implement a clear strategy to achieve the team’s vision and purpose. Ability to prepare and implement a departmental business plan. • Problem-solving: ability to remain calm and focused in dealing with reactive matters and troubleshooting. • People skills: Approachable, empathetic, diplomatic and good listener. • Networking skills: access to people, information, and resources for solving problems and getting things done. Good contacts across Real Estate industry in London or wider UK.
Programme Timeline
The Management Recruitment Group are exclusively mandated in partnership with JLL and The Crown Estate. All internal and external applications will be forwarded to MRG and included in the selection process. To apply or for a confidential discussion regarding this opportunity please contact Matthew Evans or Stephanie Howe of The Management Recruitment Group on 0207 959 2368 or matthew.evans@mrgpeople.co.uk stephanie.howe@mrgpeople.co.uk
Closing Date for Applications Tuesday 6th June MRG First Stage Interviews W/c 12th June & W/c 19th June JLL Selection Interviews W/c 19th June & W/c 26th June The Crown Estate Selection Interviews W/c 3rd July
68 King William Street London EC4N 7DZ 0207 959 2368 www.mrgpeople.co.uk
Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16Made with FlippingBook HTML5