Head of Property Acquisitions

3 weeks ago

London, Greater London, United Kingdom Third Space Support Office Full time

About the Role:

The Head of Property Acquisitions will lead the search for potential future sites and work closely with the Property Director and CEO to play a key role in Third Space's growth over the coming years.

Using expert knowledge of London and a strong network of connections in the area, the successful candidate will identify and present potential new sites. Creative and visionary, they will be able to view spaces with potential in mind. They will also be heavily involved in negotiations and planning our future pipeline to support our growth plans.

Responsibilities:

  • Research, identify and evaluate 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, project managing often lengthy and complex negotiations
  • Establish a strong and robust process for prospective acquisitions, which will include a hot spot catchment area focus, identifying off-market opportunities as well as more 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 our 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 well as the usual benefits, you and a buddy will get complimentary memberships to all of our amazing health clubs to attend as many cycling classes as your legs will allow. You will also receive discounted prices within our Spa, Medical, Retail and Natural Fitness Food offerings as well as with our first-class Personal Trainers.

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