As an asset backed operational business, TOG has a broad portfolio of 52 assets and over 2.2 million sq ft across the UK and Germany. These assets are held under a variety of structures including Freehold, Long Leasehold, Leasehold and Management Agreements. This role is to lead the Asset Management function across the portfolio.
The core objective for the function is split across our PropCo and Opco responsibilities as a business. As a Propco, we work to enhance and preserve the underlying value of our assets. The Head of Asset Management will contribute through effective property management, lease compliance, asset protection activities (PPM) and effective surveying advice across the asset lifecyle from acquisiton through to refurbishment. In certain elements of the portfolio this role will also be responsible for the leasing and management of the non-core TOG tenants in our portfolio.
As an Operating company the function is responsible for supporting the Operational (hospitality & Facilities) and commercial teams (Acquisitions, Development and Finance teams) in the effective management, of the real estate element of the portfolio through the Asset Management team. This role will include the management of the relationships and contractual obligation with our third party partners (Landlords, traditional Tenants and consultants).
What you can expect as our Head of Asset Management
- Working with the Chief Commercial Officer and other commercial teams to develop a strategic plan for the asset management function and drive through its implementation into the business.
- Refine the structure and processes the Asset Management function delivers. This includes developing better ways of working with other stakeholders to improve the servie to the company
- Deliver a high quality property management function working with the TOG facilities team and third parties.
- Working with the CEO and CCO to deliver high quality and commercially positive Landlord & third party relationships through effective management of TOG's obligations
Acquisition & Mobilisation
- Assist with underwriting inputs to ensure asset expenditure is appropriately considered in the context of TOG's contractual obligations and tenure
- Review service charge provisions, lease liabilities (and associated documentation), property management information, relevant insurances and any L&T management responsibilities to ensure TOG's interests are appropriately considered
- Detail and understand TOG obligations and responsibilities of and within the asset in relation to demise, plant, access restrictions etc
- Ensure underwriting assumptions and legal obligations are documented and managed through to building operation
- Deliver clear programme of actions through to mobilisation relating to asset management, landlord relationships, key milestones within agreements (AFL, Leases, Purchase agreements).
PropCo / Opco
- Develop and implement the operational strategy for any transitional holding assets (i.e., Chancery House) including management of third-party managing agents.
- Develop asset management strategy for assets with non-TOG revenue generating space: manage leases and tenant relationships. Review and approve sub-leases to tenants outside of normal client licence dealings, and monitoring critical dates and reversions /dilapidations
- Liaise with agents, solicitors and building surveyors and other external consultants.
- Input into operational asset expenditure budgets (opex & capex) to ensure compliance with lease obligations and asset value preservation
- Provide regular reporting on key events across the TOG leasehold and freehold estate
- Managing and reporting on head lease Rent Reviews and other critical lease events
- Managing landlord relationships and neighbourly matters for operational assets
- Overall responsibility for reviewing and challenging landlord service charge budgets
- Responsibility for the development of third party service charge budgets where we manage non-TOG tenants
- Oversight of building risk management including maintaining property and liability insurances and reviewing compliance Ensure that policies and procedures are being followed in relation to building alterations, repair callouts, issuing purchase orders and incident reporting.
- Providing lease advisory services to the business from time to time.
- General surveying matters (licences, disputes, party wall, planning consents, general L & T matters etc.) as well as developing systems processes to assist the property function to run more effectively
- Review and deal with neighbourly matters such as Party Wall Awards, Rights of Light, etc.
- Assist with implementation of sustainability strategies and practices across the group focusing on energy reduction
We'd love to hear from you if you've got
- Strong and effective management style of people and stakeholders.
- A positive and inspiring attitude and approach
- 10+ years Asset Management experience
- Experience in reporting to C-Suite and External shareholders
- Commercial experience and strategically astute
- Qualified to degree level in relevant subject
- MRICS minimum
- Leading teams of multi-disciplinary nature
- Negotiation skills
- L&T experience
Guidant Global is acting as an Employment Agency on behalf of The Office Group in relation to this vacancy.