Lateral - Head of Development Management

Candidate Information Pack Head of Development Management

Contents Page

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Introduction About Lateral

• Track Record • Co-Founders • Case Studies

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The Role Application Process

Dear Candidate, Thank you for your interest in this lucrative opportunity with Lateral. Lateral is a dynamic Real Estate Investment Manager founded in February 2020 by three commercially astute entrepreneurs to defy convention and reject the generic strategies employed by many. They deliver inventive, purposeful, and sustainably designed commercial property that drives value and social impact for investor and occupier alike. They seek a Head of Development Management who will be responsible for overseeing the budgets for ongoing and future development projects, appraising the associated risks for development. The successful candidate will oversee the development process from cradle to grave, ensuring all the approvals are in line with company requirements. They’ll be someone who can build fantastic relationships with planning authorities, plus other departmental heads at Lateral who will be involved in the project process. Please read on to find out more about this exciting new opportunity.

About Lateral Founded in 2020, Lateral was born of a desire to defy convention and reject the generic strategies of other Real Estate investors. We pride ourselves on delivering inventive, purposeful, and sustainably designed commercial property that drives value and social impact for investor and occupier alike. Our investment approach is data driven and predicated on innovative business plans, creating a novel perspective that drives deal origination and investor value. We have developed capacity and a leading delivery capability through in-house expertise in synergy with market leading external advisors.

We are expanding our portfolio at pace, whilst preparing to launch Ampers&, a pioneering cloud-based web solution to future-proof office investment and respond to environmental requirements, technological advances, and dynamic ways of working. Our pipeline is consistent, high quality and focused on delivering flexible, efficient, and sustainable Office buildings including those focused on Life Science to facilitate discovery, R&D, and manufacturing for the UK science and innovation market. Lateral will in time become the origination and operating partner of choice for investors looking to access the Office and Life Science sector in an innovative and data driven way.

Co-Founders and Track Record

100 properties acquired in the UK, Germany, and France

£940m of value

4.7m square feet

86% commercial

14% residential

Co-Founders Robert Crawley Robert is responsible for driving investment and asset management strategies across the core business. Prior to Lateral, Robert spent 10 years at CLS Holdings plc, a FTSE 250 constituent and Core+ office investor with 6 years as Head of Acquisitions. Robert successfully led a period of rapid, record expansion by acquiring £865m of office property in the UK and Europe which accounted for over 40% of the Group’s income. Robert holds a degree in Economics & Finance and a masters in Real Estate Development.

Rob Beacroft Rob is responsible for innovating and implementing development strategies, including delivery of Ampers&. Prior to Lateral, Rob was a banker at Coutts & Co and in 2010 established a privately owned property development business ARC, specialising in value-add luxury residential and commercial property across London. Rob holds a degree in Business Management and post graduate qualifications in Law.

Nick Beacroft Nicholas is responsible for investment and development analysis, capital structuring and accounting activities for the business. Nicholas also oversees client reporting and corporate governance. Prior to Lateral, Nicholas worked in Merrill Lynch’s commodities team, building intricate models to integrate trading strategies within the European energy markets. In 2015, Nicholas joined Rob at ARC to focus on front end development management, capital structuring and accounting activities. Nicholas holds a degree in Business Management and a master’s in Computing & IT.

Whitechapel E1 Utilising our data driven approach to discovering emerging markets for Life Science, Lateral, in partnership with H.I.G. Capital, have acquired a prime site located in the heart of the emerging Whitechapel life science district, Med City. Situated next to Royal London Hospital, a leading, internationally renowned teaching hospital, the existing 50,000 sq ft building will be replaced with a landmark life science building in excess of 100,000 sq ft. Our partnership will be the first private development to deliver dedicated life science space in Whitechapel, a vision which has the support of government, Queen Mary University and Barts Health NHS Trust. Lateral have identified a further 1,000,000 sq ft that could be delivered, cementing Whitechapel as one of London’s only locations of targeted critical mass. Ongoing Case Study

Cambridge Cambridge is the UK’s most advance and mature life science market and part of the lauded Golden Triangle. Cambridge life science companies raised £9.7bn capital during 2021, a 411% increase from 2020 while being part of the top 10 global cities for VC raised (life science). Lateral are tracking over 1,000,000 sq ft of active laboratory demand in Cambridge with 2022-2023 stock levels close to zero. This led to the speculative acquisition of an office building in Cambridge to employ an intensive CapEx programme to deliver R&D laboratory space. Pre-completion Lateral secured a lease with leading life science company and were retained to deliver their fully fitted Global HQ. Ongoing

Stevenage Stevenage is the 3rd largest Cell and Gene Therapy (CGT) location Globally, behind Boston and San Francisco, yet it accounts for 68% of capital raised. CGT is projected to grow 30% annually to become a $14bn p.a. global market by 2025. Importantly, CGT is not an isolated strand of life sciences but highly connected, evidenced by the make-up of the Stevenage Bioscience Catalyst (SBC), with 70% of companies not directly CGT. Stevenage is already a critical location in developing the UK’s aspiration to become a global leader in life sciences and its value will be further enhanced by the GSK/Reef Group/UBS joint venture to deliver over 1,000,000 sq ft over 33 acres at GSK’s existing campus. Lateral have acquired a site to deliver c.150,000 sq ft in advance of GSK’s phase 1 to satisfy the considerable depth of demand, both domestic and international. Ongoing

Shad Thames, SE122 Shad Thames is a RIBA award winning building designed by Hopkins architects and was formerly the home of the Conran Group. Lateral have commissioned the prestigious Squire & Partners to retain and enhance the property to create 16,000 sq ft of well-crafted, high quality and sustainable office space that will continue to stand the test of time. The result is a highly engaging, sustainable scheme with riverside views, an abundance of natural light, ventilation, and outdoor space. Lateral will launch Ampers& in 22 Shad Thames and are further commissioned to brand, market, and interior design the scheme. Lateral are in talks to pre-let the entirety of the building. Ongoing

Lateral are preparing to launch Ampers& in Q1 2022. Ampers& is a cloud-based web platform that offers a solution for landlords and tenants that redefines the leasing market. The solution, utilising our research in CAT A+, targets enhanced asset value, premium rents, reduced voids, and shorter rent free periods.

Ampers& spaces are a hybrid of conventional leasing and serviced offices. Design led, fully fitted and ready to go leased office space. Ampers& can deliver a Net Zero Carbon fit out that will incorporate the latest proptech to add true value to the tenant experience. Ampers& can be utilised for traditional offices and for laboratory fit outs. Ongoing

Chessington Typhoon is a 23,000 sq ft mixed-use office and industrial business centre in Chessington Industrial Estate. Lateral acquired the 1970’s built property to capitalise on the growth in the industrial market. The existing building was well let to multiple tenants on low rents with leases running for up to seven years. Following a detailed feasibility study for a comprehensive development of contemporary terraced warehouses, Lateral was able to negotiate with the various tenants to vary leases to allow for a two year vacant possession block date for redevelopment. The redevelopment potential of the site coupled with the shorter leases enabled the sale of the opportunity to Columbia Threadneedle at a price representing the highest per acre rate achieved in the location and a doubling of the original acquisition price. Completed

Trinity House, Oxford Situated in Oxford Business Park, an area earmarked for intensification, modernisation and regeneration for employment purposes, Lateral worked with Perkins & Will to replace the existing 26,000 sq ft office with over 140,000 sq ft of dedicate life science space incorporating dry and non-dry laboratory space with dedicated clean room and GMP manufacturing capability. Lateral worked closely with Carter Jonas to sell the asset off-market to Breakthrough, a JV between Tishman Speyer and BellCo, representing the $1bn fund’s first acquisition in the UK. The sale set a record land price in Oxford and was close to the record for commercial land outside of London. Complete

Priory House, Battersea Priory House is an outstanding Victorian property located on the edge of Europe’s largest regeneration project, Battersea Power Station, a 42 acre £9bn project. Once complete, Priory House occupiers will benefit from the 250 new shops and restaurants, leisure facilities, cinemas and 18 acres of public realm, all on their doorstep along with a new zone 1 tube station. Lateral worked with pH+ architects to develop CAT A+ space and to reposition the asset to meet occupier demand. Lateral successfully sold the property to Prodigy Snacks, the vegan chocolate bar brand as owner

occupier. Complete

Hanover Street, W1 Lateral were instructed by a private family to develop a feasibility study to create a cutting- edge sustainable development in Mayfair for dynamic, progressive businesses who value the power of design and high-quality service. We worked with Squire & Partners to do just that and were subsequently appointed to deliver our vision. The project was unfortunately put on hold due to the COVID-19 pandemic. Complete

The Role

Head of Development Management London Lateral are not tied to any one investor, which is intentional. We can secure funding to suit different projects, with different business plans and investment metrics. We have secured 6 deals since Feb 2020 and have completed 3 of those 6. We are self-funded and the business his significant retained profit relating to the completed deals. The Head of Development Management will: • Develop and manage budgets for development projects together with other departmental heads. Appraise and profile the associated risks for development. • Manage the site Due Diligence process in order to ensure that all development risks are identified and quantified. • Manage the approval and permitting phase of the development process and ensure approvals are in line with company requirements. • Maintain positive relationships with planning authorities. • Manage the detailed design phase of the projects, ensuring strict adherence to corporate specifications and attention to cost management. • Oversee the bidding, negotiation and construction contract process. • Oversee the Project Delivery team during construction phase. • Oversight of the projected expenditure and make sure any anticipated deviations are highlighted and controlled • Communicate and manage all issues and risks affecting the projects. • Ensure development projects are complaint with the health and safety regulations around science and research enterprises. • Ensure that construction projects are in line with current health & safety laws. • Support development efforts by working closely with other departmental heads to determine more effective processes and tools. • Undertake account management and collaboration with tenants for R&D and technology adoption. Person Specification • For an individual to be selected, they must be exceptional and with a strong life science background. • Have a successful track record of leading similar developments within the science and research sector. • Strong track record of successfully negotiating and managing relationships with senior stakeholders • A local knowledge of planning policy around science and research parks would be advantageous

For a confidential discussion to find out more about this opportunity, please contact the Lateral appointed recruitment partners Matthew Evans or Abigail Burman The Management Recruitment Group. Applications should consist of a CV and covering statement outlining key matching experience for applying for the post. Applications should be sent to; matthew.evans@mrgpeople.co.uk or abigail.burman@mrgpeople.co.uk Application Process

We are an international recruiter of senior management professionals across real estate, facilities and development. Our success is built on our people, process and expertise. Our people have unrivalled experience, our process is rigorous and designed in-house, and we have meaningful sector expertise.

We are MRG and we are different by design.

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