Head of Property Acquisitions

4 weeks ago

London, Greater London, United Kingdom Third Space Support Office Full time
About the Role

We are seeking a highly skilled and experienced Head of Property Acquisitions to join our team at Third Space Support Office. As a key member of our property team, you will be responsible for leading the search for potential future sites and working closely with the Property Director and CEO to drive our growth strategy.

Key Responsibilities
  • Research and identify potential locations for new Third Space clubs, using market research, demographic studies, and financial analysis.
  • Conduct negotiations with property owners and developers, in partnership with the Property Director, CEO, and their teams, and external consultants.
  • Establish a strong and robust process for prospective acquisitions, including a hot spot catchment area focus, identifying off-market opportunities, and conventional and landlord/developer-led opportunities.
  • Prepare board papers for new site investment proposals.
  • Coordinate with Legal, Finance, and Operations teams to ensure acquisitions are in line with company strategy, profitability, and requirements.
  • Work closely with and continue to develop a strong Third Space external relationships with retained agents, legal advisors, and other consultants.
Requirements
  • 5+ years of real estate acquisitions experience, preferably in retail, hospitality, leisure, or fitness.
  • Proven negotiation and property transaction success.
  • Deep knowledge of London, including property dynamics, investors, developers, agents, and demographics.
  • Detailed understanding of commercial leases, including value drivers for tenants and landlords, and broad understanding of legal process for negotiating long leases.
  • Knowledge of financial controls on capital expenditure throughout ongoing projects.
  • Reporting and management of end-to-end acquisition process.
  • A creative, persistent, and patient approach will be required – our volume of new sites is relatively low (3-5 per annum), the lead times are often long (up to 3 years), and the quality bar is very high.
What We Offer

As a valued member of our team, you will receive a comprehensive benefits package, including complimentary memberships to all of our amazing health clubs, discounted prices within our Spa, Medical, Retail, and Natural Fitness Food offerings, and first-class Personal Trainers.

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