Job Description Employer:
Main Responsibilities The principal duties and accountabilities of the role are set out below:
generation across the estate through parsonage “rightsizings”, reconfigurations, developments and new investment. Job Summary This is a new role with a remit that extends across both the LDF’s operational housing and investment property estate. The (Senior) Investment and Asset Manager will report to the Head of Investment Property and Asset Management. There will be a second (Senior) Investment and Asset Manager in the team, so responsibilities will be shared. The (Senior) Investment and Asset Manag- er’s primary responsibilities are:
The London Diocesan Fund
Job Title:
Senior Investment and Asset Management
Responsible to:
Head of Investment Property and Asset Management
Investment Property Portfolio •
To support the day-to-day investment management of the investment prop- erty portfolio implementing strategy at both portfolio and asset level by: Sourcing and underwriting appro- priate potential new ‘on-strategy’ investment acquisitions, undertaking pre-purchase due diligence and managing transactions. Preparing property-specific asset management plans with the objective of maximising total returns, and under- taking hold-sell analysis. Identifying and implementing value and income accretive asset manage- ment initiatives. Preparing properties for sale, ap- pointing agents, evaluating bids, and managing transactions. To input into operating and capital cash flow budgets and forecasts and portfolio investment performance reporting. To oversee the day-to-day manage- ment of the portfolio by the managing agents, including monitoring perfor- mance against KPI’s, ensuring tenant applications are processed in a timely manner and rent arrears are managed appropriately. To ensure that neighbourly issues e.g. rights of light, party walls, noise, boundary disputes etc. and lease consents are managed appropriately. To oversee claims for residential
Overview
The LDF The Church of England Diocese of London is a geographic area roughly covering the area north of the River Thames and within the M25 motorway though just extending up to the River Lea in the east. The Dio- cese comprises 400+ parishes. The Diocese conducts its financial affairs through a number of corporate bodies. The main body is the London Diocesan Fund (“LDF”). The LDF is a charity, the principal activity of which is to serve and support the parishes and people within the Diocese. It does this operationally through the payment and housing of parish clergy and support to their ministry. The Housing & Investment Property Department The Housing & Investment Property department oversees both the LDF’s circa £1 billion, 600-unit, London operational housing portfolio and the LDF’s circa £123 million mixed-use investment property fund (industrial, retail, residential, alterna- tive, office and land investments across London and the South East). Our estate is subject to a range of ecclesiastical and charity property legislation.
established in January 2014 from a pre-ex- isting non-operational portfolio, and has since undergone a period of rapid change. In 2018, a target was set to generate sustainable net income from the portfolio of £4 million per annum by 2023, without sacrificing capital growth, and a strategy was set accordingly. The investment property function has delivered a benchmark-beating annual average total return of 11.3% since its establishment in 2014, materially exceeding targets. The capital value of the fund has grown by over £57 million (+87%) with no new investment, while sustainable net income has grown by £2.3 million per annum (+169%) – from £1.3 million in 2014 to £3.6 million in 2021. It is expected to achieve the £4.0 million net income target during 2023. A review of the investment property function is anticipated during 2023, before a new strategy can be set for the period up to 2030. unlocked through the proactive asset man- agement of our operational housing estate since 2013 (equivalent to a little over £1 million per annum on average). However, we have identified opportunities for mate- rial further capital release or new income Asset Management Over £10 million of value has been
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The effective management of the investment portfolio to deliver the Investment Property Strategy. This will include inputting into strategy to de- liver investment objectives, sourcing on-strategy new investment opportu- nities, identifying disposal targets, and identifying and implementing value and income accretive asset manage- ment initiatives to maximise returns. To identify opportunities for capital release or income generation across the operational housing portfolio (e.g. through planning, development and leasing initiatives) and imple- ment those strategies, and to identify ‘on-strategy’ operational housing sale targets and new acquisitions, and effectively lead and manage those transactions. Inputting into an environmental strate- gy to be developed to deliver on the organisation’s carbon emissions target.
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Investment Property The LDF investment property fund was
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