Surveyor, Real Estate Long Income: Asset Management and Origination

Recruiter
M&G plc.
Location
London, United Kingdom
Salary
Competitive
Posted
17 Nov 2022
Closes
04 Dec 2022
Ref
17798324
Job Function
Accounting/Audit/Tax
Industry Sector
Finance - General
Employment Type
Full Time
Education
Bachelors
At M&G our purpose is to help people manage and grow their savings and investments, responsibly. As a business, we are continuing to take steps towards a sustainable future, delivering better long-term solutions for our customers and clients and identifying new opportunities to make a positive impact for our environment and communities . To help us achieve our vision we're looking for exceptional people who live our values of care and integrity and who can inspire others; embrace change; deliver results and keep it simple.

We will consider flexible working arrangements for any of our roles and also offer work place accommodations to ensure you have what you need to effectively deliver in your role.

The Role:
A unique opportunity has arisen to join M&G's market-leading long lease investment team with a portfolio of around £9bn AUM over 200 properties across traditional and alternative sectors. We have a requirement for a surveyor to operate at the heart of the UK fund management and investment team to drive the ongoing growth of the business.

You will work closely with experienced real estate and fixed income professionals across the business, applying your skills to all aspects of the management of M&G's substantial long income portfolio. The portfolio has external property managers but there is a need for a RICS qualified surveyor to work on asset management.

The Real Estate Income business at M&G is responsible for the management of M&G's long lease property investment activities on behalf of both M&G's annuity funds and external institutional clients. It currently has around £9 billion of assets under management. The flagship product of the business is the M&G Secured Property Income Fund with assets around £5 billion, currently the largest pooled institutional real estate Fund in the UK, investing across all sectors of the market including hotels, healthcare, residential, student accommodation and leisure in additional to office, retail and industrial assets. Other key strategies include the M&G European Secured Property Income Fund and M&G Secured Lease Income Fund, along with other real estate based inflation-linked income and fixed income credit arbitrage transactions for various segregated account mandates. These strategies are delivered by a team of 17 investment professionals working in partnership with colleagues across M&G's Private Credit, Real Estate and Research teams. The property element has four surveyors, and the role is two work with the two asset management focussed colleagues.

Key Work Level Accountabilities:
Experienced Colleague:
  • Accountable for providing a quality service or product to customers and stakeholders, using skills/experience built through significant practical experience or training
  • For team leaders, accountable for ensuring the team the role supports is delivering a quality service or product
  • Works within established frameworks and procedures, with the freedom to interpret them to solve a range of problems
  • Delivers outputs that are clearly defined, using discretion over how to achieve them
  • Makes suggestions for improvements to the work of the team, based on previous experience and knowledge of similar situations

Key Responsibilities for this role:
  • To work collaboratively with colleagues and take personal accountability to maintain and enhance controls you are responsible for to support improvement of the overall control environment, customers outcomes and a reduction in M&G's operational risk.
  • There are over 200 RPI or CPI rent reviews that need to be checked and completed each year. Strong attention to detail, ability to read leases, carry out calculations, track and progress these from start to finish.
  • The Long Income team are leading the way on ESG, with the two highest GRESB rated funds in the competitor pool. Work with an experienced colleague to implement the ESG strategy across the portfolio, including data collection and implementation
  • Work with colleagues to progress tenant applications, licences and neighbourly matters, health and safety and fire safety. Nearly the entire portfolio is single let, FRI properties but includes large portfolios of properties such as gyms, hotels, supermarkets or pubs where we work with our tenants to help them implement their property strategies.
  • Support the team on asset management opportunities such as redevelopment opportunities or regears.
  • The role will not involve investment or transaction activity

Key Knowledge, Skills & Experience:
  • RICS qualified, with a strong ability to read and interpret leases.
  • Some property management background, and experience of managing external consultants such as building surveyors, rights of light experts, fire safety consultants and rent review surveyors.
  • Good Excel skills and attention to detail
  • Proven ability to manage, track and implement projects.
  • Ability to negotiate with senior tenant contacts
  • It is recognized that candidates may not have specific experience in long lease property.
  • It would suit either a full time recently qualified surveyor or somebody with more experience but looking to work part time such as a surveyor returning to work. M&G has a flexible approach to hybrid working but weekly presence in the London office would be beneficial.

Work Level: Experienced Colleague
Recruiter Name: Emily Northcott
Closing Date: 2nd December 2022

We have a diverse workforce and an inclusive culture at M&G plc, underpinned by our policies and our employee-led networks who provide networking opportunities, advice and support for the diverse communities our colleagues represent. Regardless of gender, ethnicity, age, sexual orientation, nationality or disability we are looking to attract, promote and retain exceptional people. We also welcome those who take part in military service and those returning from career breaks.
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