At Octopus we're transforming the industries we operate in and improving the lives of millions of people. We've built market-leading positions in a number of specialist sectors, including smaller company financing, renewable energy, healthcare and property finance. We employ over 500 people and manage more than £6 billion on behalf of more than 50,000 investors. Our products don't just help real people solve real life problems, they also make a positive impact on the world around us.
The Octopus Group incorporates Octopus Energy, Octopus Healthcare, Octopus Investments, Octopus Property, Octopus Ventures and Octopus Labs. Our aim is to have an impact in everything we do, and to make a vital contribution to the UK economy by helping people, companies and institutions generate wealth. And we're always on the look-out for smart, talented people who share our values.
About the role
Octopus Healthcare is looking for an assistant Asset Manager to join its Primary Healthcare property team reporting to the Asset Manager. The fund comprises 166 Primary Care assets (the Medicx Fund) with c400 leases across the UK, including the Republic of Ireland. It invests either by acquiring existing assets or forward funding them, typically in joint ventures with specialist developers including Octopus Healthcare's own development team. Properties are typically let to GP Practices and Pharmacies on long leases (21 years plus) with reviews to market rent, index-linked or fixed annual uplifts. Octopus Healthcare is planning to grow this fund to £1bn by April 2020.
To support the current workload and as a result of the planned expansion, Octopus Healthcare is seeking an assistant Asset Manager. It's a proactive role supporting the asset management team which is focused on driving performance across the fund through the successful completion of value-add initiatives such as lease re-gears, refurbishments and extensions. In addition the candidate will be expected to engage on both the portfolio valuation and rent review functions again providing assistance managing the various external consultants and ensuring accurate reporting and effective performance.
Essential Job Functions
Working closely with the asset manager to proactively identify and deliver asset management initiatives to increase and protect the value of the portfolio.
Assist in preparing annual business plans and forecasting for properties under management, liaising closely with Property Management team.
Help coordinate refurbishment and property extension strategies which involves the management of a wide range of professional consultants, such as architects, building contractors, engineers and insurers.
Support the team in the management of rent reviews across the portfolio selecting and over-seeing specialist agents.
Support the team in the management of the Fund's quarterly valuations.
Assist in the management of all third party consultants including project managers, letting agents, lawyers, architects, technical consultants on active Asset Management projects.
Provide regular updates on all ongoing asset management initiatives to the Asset Management team.
Liaise with the Fund's property management team and tenants to ensure that the asset management team is well-placed to react to information gathered and feed this into future asset management strategies.
Assist in the negotiation of lease extensions and, where appropriate, lease surrenders with existing tenants and of new leases with prospective occupiers.
Where appropriate, provide asset management input into prospective new acquisitions for the fund working closely with the Business Development and Investment team
Job Specific Experience/Technical Skills/Abilities
A part qualified graduate or newly qualified (MRICS) chartered surveyor
Basic understanding of commercial property valuation, lease renewal and rent review methodologies.
Previous experience in property /asset management, valuation, leasing or occupational advisory role.
Personality and approach is key. We are seeking someone who is genuinely driven, personable and capable of bringing initiative, focus and flair to a wide variety of situations. Also, someone who identifies strongly with the Octopus values.
The ability to combine administrative efficiency and the technical aspects of property management with the development of relationships with operators and to assist the asset management team in the identification of business opportunities with them.
Strong communication skills, written and verbal are essential.
The role requires strong project management skills to identify and engage with the relevant stakeholders and progress schemes from ideas to reality.
Healthcare property experience helpful, but by no means required.
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At Octopus, we recognise the importance of embracing diversity in order to create a high performance culture.