M&G Real Estate
We are not your average Real Estate investment business and our unique culture is just one aspect that makes us stand out from the crowd. We offer a supportive environment that encourages innovation and creativity whilst maintaining a healthy lifestyle balance. You will be joining one of Europe's leading Investment Management firms where you can expect real responsibility and recognition from day one. We are large enough to offer a wide variety of career opportunities, whilst small enough to treat you as an individual and tailor training and development to your specific needs.
An opportunity has arisen for a Asset Manager, preferably with some retail experience, to join the UK Retail & Leisure Team at M&G Real Estate. You will deliver superior investment performance on your assets optimising total returns taking account of the objectives & requirements of your funds / clients. You will also be identifying opportunities to improve performance through leasing strategies, enhancement of planning or via change through refurbishment, alteration or redevelopment, driving asset management activities (including oversight of outsourced property management), with direct responsibility for delivery of landlord & tenant and leasing strategies (including lettings, rent review, lease renewal & restructuring), as approved via Asset Initiatives or within the Asset Plan.
You will be responsible for:
- Working independently on allocated assets, and in conjunction with senior colleagues on allocated assets as required.
- Preparing the Asset Plan for each property setting out the leasing & asset management strategy (including oversight responsibility for the property management content);
- Prioritising, co-ordinating, communicating and directing asset management activities to achieve agreed objectives to maximise asset investment performance;
- Identifying, appraising, evaluating, negotiating and implementing initiatives including surrender/re-letting opportunities, re-gearing leases and reconfiguring properties to enhance the income return;
- Undertaking valuation and viability appraisals to support of recommendations and asset strategy requiring Investment or Fund Manager’s authority;
- Setting the leasing strategy, letting vacant premises and instructing letting agents as required;
- Managing rent review and lease renewal caseloads, negotiating these directly or using external consultants as may be appropriate;
- Approving the property management strategy and objectives and overseeing implementation by the Property Manager, including:
- Ensuring that income is optimised and non-recoverable costs proactively managed & minimised;
- Making sure that assets are kept "ready for sale" (other than where part of an agreed strategy);
- Providing information to external valuers, attending valuation meetings and reviewing draft valuations, monitoring and reviewing the investment performance of assets against relevant MSCI benchmarks.
- Leading asset review & letting meetings with relevant participants (as required), ensuring agreed actions points are documented, communicated and followed through.
- Reporting progress made towards the achievement of the agreed asset objectives including leasing cases, voids and asset initiatives and contributing to such Fund reports as may be required.
- Providing sector expertise in support of prospective asset purchases, whilst maintaining awareness for introduction of assets identified with potential to deliver investment out-performance.
- Recommending assets for sale to the Fund Manager through the asset strategy process and manage sale transaction where appropriate.
- Developing and maintain extensive business and market contacts, proactively contributing to M&G Real Estate's “Retailer Insights” occupier relationship management programme.
- Understanding M&G Real Estate’s RPI vision and applying sustainable strategies demonstrating appreciation of costs and awareness of driving investment returns
What we are looking for:
It is essential that you are a recently qualified MRICS or equivalent preferably with some retail sector experience and have a broad knowledge of the property marking through investment, agency, leasing and professional experience. You will be articulate and numerate with good analytical skills experience of using valuation packages.
M&G is committed to a diverse and inclusive workplace. Our role as an employer is very simple – to provide the right environment for talented people to do their best work, by respecting, understanding and valuing individual differences.
We welcome applications from individuals who have taken an extended career break, and we are willing to consider flexible working arrangements for all of our roles.