Residential (Build to Rent) Development Manager – London EC2

Legal & General Investment Management Real Assets (LGIM RA) is one of the most active institutional property fund managers in the UK. Having secured an initial £1bn to develop a portfolio of purpose built private rented residential accommodation, they are now seeking a Residential Development Manager to help deliver these projects.

LGIM RA have already acquired a number of residential schemes, targeting the construction of up to 1000 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. To achieve this aim, LGIM requires a talented Development Manager to join their Residential team based in London. Reporting to the Head of Residential Development, the successful candidate will be instrumental in driving performance in one of Legal & General’s key investment sectors. There will be plenty of scope for career development in this challenging and rewarding role, which has a specific focus on the Build to Rent / Private Rented Sector.

Key Accountabilities

  • Responsible for the delivery of residential development opportunities in conjunction with the Head of Residential Development. To assist initially in the evaluation of all opportunities including liaison with the Transactions Team and Fund/Asset Managers for the purposes of providing specialist advice on potential purchases.
  • Work closely with the Head of Residential Development and the Director of Investment and Development in the necessary due diligence on all residential development opportunities and manage external consultants to drive forward the residential development strategy.
  • Assist the Head of Residential Development with the preparation of asset specific business plans and report on the successful delivery against pre-agreed key metrics.
  • Provide pre-purchase advice and due diligence on all new residential opportunities including but not limited to cost plans, construction programme, technical due diligence etc.
  • Be responsible for effective management of costs and budgets when managing external consultants.
  • Compile monthly, quarterly and annual reports in accordance with the asset business plan.
  • Instruct and manage third party advisors to ensure all risks are managed and mitigated pre and post-acquisition.
  • Project manage residential development opportunities through to a start on site, including appointment of contractors in accordance with the cost plan and construction programme, via external project managers where appropriate.
  • Manage external development managers throughout the construction programme ensuring accurate and timely reporting against the business plan and including attending site visits and meetings on a regular basis.
  • Contribute to the strategic thinking and planning in the residential sector, including an on-going analysis of the processes and procedures and where greater efficiency can be driven out of the procurement and construction process.

Role Requirements

  • A graduate (can be a non-cognate degree) with a minimum of 10 years’ property experience with an excellent academic background and a strong numerical aptitude
  • A proven track record within the residential development sector, specifically in project management.
  • An innovative and dynamic approach to identifying issues throughout the development process and mitigating those risks in a cost effective and efficient manner.
  • IT literate with a good working knowledge of Argus/Circle Investor/Developer and Excel
  • Highly organised with the ability to prioritise
  • A team player and effective communicator

This is an excellent opportunity to develop your Residential Development 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 LGIM’s resourcing consultant, Joanne Cuckson at: joannecuckson@summit-group.org

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