Residential Asset Manager – Legal & General Property

We are working exclusively with Legal & General Property to recruit a Senior Asset Manager to focus on the Build to Rent sector, based in London.

Legal & General Property (LGP) is one of the most active institutional property fund managers in the UK, transacting over £5bn in the past 18 months. As part of their investment strategy, LGP is currently deploying significant equity within the Residential sector.

Having already acquired a number of residential schemes, L&G is targeting the construction of up to 500 units per annum. With a long term develop and hold strategy they are focused on maximising net operating income and believe this can be delivered through the provision of high quality purpose build apartments in urban locations that offer exceptional service quality to their tenants.

Their mandate is to develop and hold large (150+ apartment) schemes across the UK that will deliver stable income that grows in excess of inflation. Institutional residential investment in the UK has been minimal for a number of decades even though it is significant in many international markets. L&G’s ambition is to build and manage in excess of £1bn of stock within seven years.

To achieve this aim, LGP requires a Senior Asset Manager (BtR) to join their London based team. Reporting to the Fund Manager – Build to Rent, the successful candidate will be instrumental in creating initiatives and driving performance in one of Legal & General’s key investment sectors. There is plenty of scope for career development in this challenging and rewarding role.

Key Accountabilities 

  • Design and implement initial asset operational business plans, to include letting and service level strategy.
  • Identify and execute value add opportunities to maximise asset value during the initial letting up phase for all assets.
  • Continue asset management responsibility to the key schemes beyond the initial letting up period.
  • Work closely on a daily basis with our Property Management partners within each scheme.
  • Assist in the preparation of the Asset Business Plans, both at initial site acquisition and through the hold period.
  • Innovate, identifying best practice globally to maximise income.
  • Research, model and carry out due diligence in the design and delivery of business plans.
  • Liaise with the Fund’s valuers, property managing agents and solicitors.
  • Assist in the Fund reporting, both internally and externally.
  • Develop and maintain good contacts with key advisors.

 Role Requirements 

  • Minimum of 5 years’ property experience with an excellent academic background, numerical aptitude, strong A levels and a degree (which may be non-cognate).
  • Whilst not necessarily from an asset management background, it is anticipated that the successful candidate will demonstrate a strong awareness of this function, together with a solid investment acumen and an energetic approach.
  • A strong track record of experience within the residential/hospitality sector is preferred for this role.
  • An ability to innovate and create, in order to identify and implement ways to release value and grow operational income
  • Highly organised with the ability to prioritise effectively
  • A team player and a good communicator

This is an excellent opportunity to develop your Residential Asset Management career within a multi-award winning Investment Manager. Therefore, to apply in confidence, please register your details via the Summit Search & Selection website or email your CV directly to LGP’s resourcing consultant, Joanne Cuckson at: joannecuckson@summit-group.org

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