University of Reading - Property Director

University of Reading - Property Director

PROPERTY DIRECTOR

LIMITLESS AMBITION | LIMITLESS POTENTIAL | LIMITLESS IMPACT

INTRODUCTION

The University of Reading is seeking to appoint a Property Director to lead the strategic and operational management of the University’s investment property portfolio. The University of Reading is a global university that enjoys a world-class reputation for teaching, research and enterprise. The University holds a significant property investment portfolio, which seeks to create and drive long term growth and income opportunity to support the further advancement of the University. The investment portfolio, which sits separately to the operational estate, comprises an incredibly diverse variety of land and property including commercial, residential, innovation & enterprise, research & development, industrial, retail and rural space. We have over 500 tenants ranging frommulti-national corporations to individual partners. Reporting to the Chief Financial Officer, the Property Director is responsible for strategic and operational asset management across the University’s investment portfolio. The Property Director will lead a team that undertakes a broad range of activities including L&T, lettings, and asset and property management. This is an exciting opportunity for an experienced property professional to take ownership of a significant investment portfolio that supports the continued success of a renowned education institution.

ABOUT UNIVERSITY OF READING

The University of Reading has been at the forefront of UK higher education for nearly a century. Over the decades we have become innovators and pioneers, pushing academic boundaries and leading social change. Home to more than 19,000 students, the University of Reading is proud to welcome staff and students from all of the world. Our award-winning campuses – in Reading, Henley- upon-Thames, Johannesberg, and Iskandar – house contemporary study facilities, halls of residence, support services, cafes and bars. We strive to create a stronger, better University of Reading, building on our past to create an exceptional future. Our four guiding principles form the foundation of our Strategic Plan 2020-2026: • a genuine love of learning • creating new knowledge • embracing and celebrating diversity of people and ideas • caring for our environment You can learn more about our history, performance, strategy and economic, social and community impact here University of Reading at a glance

Ranked 29th among UK universities 98%

Awarded Silver in the Teaching Excellence Framework 84% overall student satisfaction remains high, matching the sector average We are a Stonewall Top 100 Employer 22,480 students from around 175 countries

of our research is internationally recognised and 78% is internationally excellent More than 40% reduction in carbon emissions from 2008/09 baselines

THE ROLE

The University holds a significant property investment portfolio, which seeks to create and drive long term growth and income opportunity to support the further advancement of the University. The investment portfolio, which sits separately to the operational estate, comprises an incredibly diverse variety of land and property including commercial, residential, innovation & enterprise, research & development, industrial, retail and rural space. We have over 500 tenants ranging frommulti-national corporations to individual partners. Reporting to the Chief Financial Officer, the Property Director is responsible for strategic and operational asset management across the University’s investment portfolio. The Property Director will lead a team that undertakes a broad range of activities including L&T, lettings, and asset and property management. We are seeking an individual with experience and a proven track record in a senior and strategic role as the lead property professional across a diverse estate portfolio. You will have demonstrable breadth of experience in the property industry, with exposure to transactions, asset management and property management and will possess the leadership abilities to manage, develop and motivate an internal property team. The role calls for an individual with excellent interpersonal, communication and negotiating skills, with an entrepreneurial, self-motivated, and dynamic mindset.

JOB DESCRIPTION

Supervision received The post holder will report to the Chief Financial Officer. Contact There will be frequent and regular contact with a variety of senior stakeholders from across the university, particularly its operational estates team, maintenance, projects, procurement, and legal departments. Liaison with Finance and HR for day to day management of the team and budgets under the responsibility of this role. Terms and conditions Full time, permanent. This document outlines the duties required for the time being of the post to indicate the level of responsibility. It is not a comprehensive or exhaustive list and the line manager may vary duties from time to time which do not change the general character of the job or the level of responsibility entailed. Purpose This is a critical role for the University, providing strategic oversight and management of the University’s investment property/land portfolios (including some acquisitions and disposals), advice in this regard to our University Council/Trustees and independent Trust Committees and working collaboratively with other Directors (for example in Estates and planning, Commercial) in the University to secure best returns. This role works alongside those managing the academic estate to provide a seamless service to all occupiers. The post holder will report to the Chief Financial Officer, a member of the Executive Board, leading the Property Services Department, which is responsible for delivering financial returns from the university’s estate where not utilised for academic purposes or as Halls of Residence. The role entails identification of opportunities for income generation, managing leases and third parties, and mitigating risk using RICS standard professional property expertise. The Property Services Department comprises 4 full time and 2 part time staff, with further management responsibilities extending to a wide range of external consultants and contractors as well as interacting with other University Departments including the in-house Maintenance team. An ability to secure, nurture and grow professional expertise within the Property Services teamwill be important.

JOB DESCRIPTION

Purpose The majority of the university’s investment estate is linked to the University’s three main campuses and farm operations; tenants are often collaborating organisations who work closely with our education function; however, whose commercial interests are distinct therefore needing tenant and lease management to defend the university’s risk and further its financial interests. The University has a business campus, Thames Valley Science Park and it is envisaged that its’ scope will continue to expand and increase with the formation of a separate entity. The operational running of this site is included in the portfolio of this role currently, and involvement with this expanding project may change as the project matures.

The Property Services Department manages over 350 lettings, from large to small, including houses, HMOs, offices, laboratories, retail, industrial open storage, farmland lettings and telecoms towers amongst other uses. The annual maintenance budget reflects approximately £1.8m per annum across the investment estate and the rent collected by the department is up to £5m per annum. The Director needs to be confident working within a complex organisation, and able to communicate property matters clearly and diplomatically to a variety of stakeholders. Commercial acumen, professional RICS expertise together with a headline understanding of the importance with Health and Safety and statutory regulations is required. Ability to provide high quality verbal and written reports and performance updates, often to tight deadlines, is also essential to this role.

JOB DESCRIPTION

Main duties and responsibilities • To provide strategic oversight and leadership of the investment property and land portfolio, to complement particularly the work of the Estates and Commercial teams • Representing University client-side interests on lettings and commercial and lease dealings with third parties. This can be complex in a University setting. • Directing consultant commercial and residential negotiating agents and support services to optimise financial returns and mitigate risk, whilst ensuring the University’s corporate and reputation and sensitive objectives are fully met. • Providing in–house RICS professional property expertise where the University values, manages and occasionally transacts property. Provide strategic valuation and property advice to the University relating to transaction both into and out of the Estate and capital investment into investment property assets, to include carrying out investment and financial appraisals to demonstrate suitable levels of financial returns and value for money. To be carried out in accordance with the requisite RICS Guidance Notes and Practice Standards • Oversight of planned and reactive maintenance and FM of the leased element of the estate, to budget, and to keep the standard of properties compliant with regulations and in good condition. • Lead on the annual balance sheet valuations, undertaken in accordance with a RICS ‘red- book’ approach, and support our Finance Department on its annual Audit with regard to property assets. • Oversight of the Property Services Department’s work on the university’s insurance valuations and business rates matters.

• Manage and support staff to ensure the general smooth operation of the department, identifying talent and growing skills and allocating appropriate training and professional development. The Director will ensure responsibilities are held by staff with the appropriate level of training, expertise, and qualifications. • Manage the university wide property >Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16

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