Commercial Asset Manager

Greater London Authority

  • London
  • Permanent
  • Full-time
  • 4 hours ago
Description - Internal / ExternalJob title - Commercial Asset ManagerSalary - Up to £70,000 depending on experienceLocation - Victoria Station HouseContract Type - Permanent (TfL / Places for London)Band - 3ABOUT USWe're the property company with big plans for the capital.For 160 years, Transport for London has kept London moving. It has been one of the city's biggest innovators. Places for London, the TfL property company, is its latest innovation. We are here to unlock more of the potential of TfL land and create a greener, kinder, and more connected London for everyone. We are wholly owned by TfL but importantly self-funding, with our profits being paid back to TfL to reinvest into the transport network.We own and manages a diverse and substantial commercial property portfolio in London, more than £1.5bn of asset under management. We also have a significant development pipeline of high-quality offices, homes (for sale, affordable and build to rent) and purpose-built student accommodation in prime transport adjacent locations. This pipeline is set to be delivered by joint ventures between us and best in class delivery partners and create sizable investment and acquisition opportunities.The critical next phase of our organisation is to curate our exiting portfolio through investment, disposals and acquisitions to create a sustainable long-term endowment to TfL.We are unashamedly focused on how we deliver for London, not just what we deliver. At Places for London, we celebrate our differences and uniqueness, our public spirit and passion for this city unites us. It's a place where you'll be free to express yourself, have the chance to shape your own development and take pride in being part of our team. The energy our people bring is unmatched, and each of us can change this city for the better.ABOUT THE ROLEWe are recruiting a Commercial Asset Manager for our Investment team. Based in London, this critical role will sit across the business working with multiple sectors and teams (including Finance, Strategy, Asset Management and Development).We are looking for a strategic minded individual with a strong understanding of property market dynamics and supply / demand characteristics for the key property investment sectors, including residential (build to rent, PBSA, Later Living), commercial, industrial, retails and alternatives.Our Investment Strategy prioritises assets that will deliver a sustainable and well-balanced income stream. We are embarking on an ambitious programme to grow and diversify our portfolio with the aim of delivering long term, stable income returns that can be reinvested into the transport network.This is a great opportunity for a strategic minded individual looking to contribute to the success of Places for London and grow their career through experience across a range of sectors.Key ResponsibilitiesWorking with the Investment team the Commercial Asset Manager will:
  • Support the Investment team in the delivery of Investment Strategy updates, the bi-annual valuation programme and a sustainable investment programme.
  • Support involvement in the forward fund / forward acquisition investment transactions, including underwriting opportunities and negotiating transactions.
  • Work with relevant sector specific asset managers and support the Senior Commercial Asset Manager leading the disposal and acquisition programmes to deliver our capital receipts programme.
  • Review our Investment Strategy, undertake research and establish evidence-based and risk-based recommendations for key investment priorities at portfolio and sector level.
  • Contribute and assist with the development of our Business Plan, ensuring it reflects the key strategic objectives as set out in the Investment Strategy.
  • Set a project prioritisation framework led by the direction of the Investment Strategy and Business Plan.
  • Take a key role in the delivery of the bi-annual Investment Portfolio valuation. Including providing analysis and peer benchmarking of the output.
  • Review our development pipeline to establish and prioritise the assets to invest.
  • Define the investment opportunities, establishing a credible and realistic investment programme.
  • Take line management responsibility for the supervision, motivation and development of any support staff allocated to this role.
  • Manage the complex interfaces and stakeholder relationships within TfL to drive the investment programme forward; and
  • Support the Head of Investment on senior stakeholder reporting.
About YouKnowledge
  • Strong understanding of property market dynamics and supply / demand characteristics for the key property investment sectors, including residential (build to rent, PBSA, Later Living), commercial, industrial, retails and alternatives.
  • Broad knowledge and understanding of key legislation and structural changes to real estate driving change in the property industry.
  • Detailed understanding of core property investment concepts, including financial investment metrics.
  • Strong working knowledge of core property valuation techniques; and
  • Good knowledge of best practice in programme delivery and management
Skills
  • A strategic and analytical mindset, with the ability to apply this across a broad range of market sectors.
  • A strong self-motivator, willing to grow a new area of the business, develop a strong and persuasive evidence-based proposal and able to influence senior leadership decision-making.
  • Demonstrate excellent cross-functional team working, as the role will interface heavily with other business units across Places. Ability to build and maintain a wide network of internal and external relationships, and act as ambassador for Places for London and TfL, where appropriate.
  • Good project management skills to manage substantial business programmes.
  • Excellent oral and written communication skills, with an ability to work and think accurately in high-pressure situations; and
  • Good numeracy and IT skills and well-organised.
Experience
  • Previous experience gained within either a client-side role and/or a consultancy role.
  • Preferred 2 years PQE minimum experience in real estate transactions in the Greater London market.
  • Supporting complex programmes with a significant number of stakeholders.
  • Reporting on complex topics in a clear and concise manner.
  • Handling a varied workload comprising at any one-time cases requiring a significant range of professional knowledge and judgement.
Equality, diversity and inclusionWe are committed to equality, diversity and inclusion. We want to represent the city we serve, which will help us become a more innovative and efficient organisation. Our goal is to make our recruitment as inclusive as possible. We are a disability confident employer who guarantee an interview to any disabled candidate who meets all of the essential criteria. We also use anonymising software that removes identifying information from CVs and cover letters to make the process fair.Application ProcessPlease apply using your CV and a two-page covering letter, (PDF preferred and do not include any photographs or images). Your application should explain why your experience and skills would make you great for this role.The closing date for applications is 22nd September @ 23:59BenefitsIn return for your commitment and expertise, you will enjoy excellent benefits and scope to grow. Rewards vary according to the business area but mostly include:
  • Final salary pension scheme
  • Free travel for you on the TfL network
  • A 75% discount on National Rail Season Ticket and interest free loan
  • 30 days annual leave plus public and bank holidays
  • Private healthcare discounted scheme (optional)
  • Tax-efficient cycle-to-work programme
  • Retail, health, leisure and travel offers
  • Discounted Eurostar travel
Eligibility - Internal employeesProbation:
In line with our Resourcing Policy (Feb 2014), internal employees are required to complete their probationary period before applying for internal TfL positions. Please ensure you have successfully completed your probation before applying for this role, otherwise your application may be withdrawn.Formal warnings:
Internal employees with any current formal warnings are not eligible to apply for internal TfL vacancies until expiry of the warning. Ineligible applications may be withdrawn. Details of what is defined as a current formal warning can be found on Platform: https://transportforlondon.sharepoint.com/sites/Instructions-and-guidance-people-performance-and-rewards/SitePages/Applying-for-a-vacancy-with-a-formal-warning.aspxNPL ApplicationsApplications to internally advertised roles can only be accepted from temporary workers who are on PAYE terms via agency, or PAYE via Umbrella Companies. Temporary workers who are paid through their own limited companies are not covered by the Agency Worker Regulations and are ineligible to apply.

Greater London Authority