Commercial Services Manager Information Pack
Contents
0 1 / 02 / 03 / 04 / 05 /
Introduction
1 2 3 4 7
Key Facts
Our Shared Spaces Role Description Application Process
A Place Designed for People
2 2 B I S H O P S G A T E — Commercial Services Manager Information Pack
INTRODUCTION
Thank you for your interest in the appointment of Commercial Services Manager with AXA Investment Managers, a brand-new role located in one of AXA’s most prestigious assets, 22 Bishopsgate. 22 Bishopsgate is an office development built in partnership between AXA Investment Managers and Lipton Rogers Developments. AXA Investment Managers has a proud record of delivering other major developments across Europe, including headquarters for businesses like Amazon, Clifford Chance, Google and IBM. 22 Bishopsgate has been conceived as a building which will represent the future of offices globally by creating an environment where people thrive. We expect a community of around 12000 people who will experience many unique and original elements that aim to make the office a human place to work, addressing social, wellbeing, convenience, environmental and productivity needs of both the people and businesses that occupy and visit the building.
22 Bishopsgate has over 3 acres of community space offering a diverse mix of facilities including a food market, gym, wellness retreat, business club, active commuter park, public viewing gallery, innovation hub and learning zone, flexible and project workspaces, and a curated gallery space at lobby level. The Commercial Services Manager is primarily responsible for ensuring that not only the initial set up of Operations is successful, but to develop the relationships and ongoing business performance for the asset both at a corporate/ decision maker level for the Operators and also for their on-site general managers. This will be happening alongside a programme of activities that aligns our vision and commitments to create and build a strong 22 Bishopsgate community. Regular engagement and feedback initiatives must provide insight to continually learn and evolve. We want to regularly exceed expectations and maintain 22 Bishopsgate as a globally recognised destination and workplace.
Dear Candidate,
Please read on to understand more about the asset and this unique opportunity.
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A VERTICAL BUSINESS CAMPUS
A place where people and ideas thrive, and businesses benefit as a result.
KEY FACTS
– The first vertical business campus in Europe – A diverse population of 12,000 people – 1.275 million sq ft of adaptable workspace – 100,000 sq ft of active community spaces – 61 floors
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OUR SHARED SPACES
ACTIVE COMMUTER PARK (ACP)
THE ART WALK
THE MARKET
Level 00–Basement 2 Operator: 22 Team
Level 00 Operator: 22 Team
Level 2 Operator: Rhubarb
We have incorporated a wide range of spaces and services into 22 Bishopsgate. All created to give you room to choose how you want to work.
CO-WORKING
THE EXCHANGE
THE GYM
Level 03–05 Operator: Convene
Level 07 Operator: TBC
Level 25 Operator: BXR
THE RETREAT
THE CLUB
THE VIEWING GALLERY & RESTAURANT
Levele 41 Operator: TBC
Level 57 Operator: TBC
Level 58–61 Operator: TBC
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ROLE DESCRIPTION
Commercial Services Manager – AXA Investment Managers REPORTS TO: Local Head of Asset Management DEPARTMENT/TEAM: Asset Management & Development
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ROLE DESCRIPTION
The role will ensure not only the initial set up of the Operators is successful, with openings planned from May 2021 through to Q2 2022, but to develop the relationships and ongoing business performance, both at a corporate/ decision maker level for the Operators and also with their on-site general managers. The candidate will put in place protocols for the reporting of performance of the Operators, both financial and non-financial, and will work with the Operators to maximise their performance. The success of this performance will be measured by the take-up by the occupiers of the building and the appeal – and therefore the overall appeal of the building to potential new Tenants.
EXECUTIVE SUMMARY:
The building is run by AXA IM as a joint venture between AXA’s long-term capital and three other long term international investors. Part of the set-up of the property includes the provision of around 150,000 – 250,000 Sq.Ft. of proposed amenity/ operational spaces, collectively called the Vertical Village, that not only add value to the Tenants (office businesses who have leased space in the building) and Occupiers (employees of the Tenants who work in the building) but also importantly drive revenue and wider marketing appeal and performance of the asset.
22 Bishopsgate is one of the most important assets within the AXA IM portfolio. The building is expected to be home to up to 12,000 residents when fully stabilised. and aims to set new benchmarks as a people centred building, founded on the four Commitments: – Health and Wellness – Learning and Education – Inclusion and Diversity – Sustainability and the Environmens and visitors.
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ROLE DESCRIPTION
The candidate will ultimately be responsible for the business plan of these parts of the asset within the wider Business Plan and will be accountable by way of quarterly reporting and the annual business plan measurement. The Candidate will be required to propose, implement and be responsible for the best value creation strategy and:
– Full knowledge and understanding of each Operator’s Business Plans as provided in the various legal agreements and to prepare, optimise and monitor the Operator’s budget (revenues, opex and capex) and performance against individually agreed Business Plans, and monthly and quarterly reporting. – To monitor such performance to identify potential business failings and define any strategy and recommendations to work with the individual operators for the recovery of any failure in performance or repossession where agreed necessary.
– Have due regard to the input from 22 Team particularly The Head of Culture and The Head of 22 who provide a vital connection to the Tenants and Occupiers of the building. – Supervise the Operators and manage all issues, claims and supervise potential litigation with legal advisors. – Define and implement the marketing and letting strategy of the Vertical Village and conduct securing operators and any reviews of the management fees and profit shares and any renewal negotiations. – Collect and analyse all relevant and updated data / documentation at operator level (technical, legal, tax and commercial data) and ensure the legal conformity and the liquidity of overall asset in respect of the operator businesses.
– Propose relevant evolutions or repositioning. Management refurbishment or development programs coordinating with internal and/or external consultants and operators.
– Define the strategy for the Vertical Village spaces and assist in the
preparation of each individual annual business plans including action plans and corresponding financial models (DCF), ensure consistency with investors’ strategy, as part of obtaining the approval from investors or Investment Committee to the overall Business Plan and follow-on the implementation of the agreed action plan.
– Monitor external valuations in respect of the Operator businesses
– Monitor KPI’s and contribute to reporting of the investors.
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APPLICATION PROCESS
For further information or to make an application please contact AXA Investment Manager’s recruitment partner The Management Recruitment Group.
matthew.evans@mrgpeople.co.uk 0203 962 9900 07854 865 017 emilia.fasano@mrgpeople.co.uk 0203 962 9900 07851 259 868
mrgpeople.co.uk
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