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Head of Acquisitions

2 months ago

London, United Kingdom Third Space Support Office Full time

Third Space is a collection of luxury health clubs in London; individual
in style, bound by a common philosophy: to provide outstanding fitness spaces
that members feel are their own. Our people are the creators that bring the
space to life. We’re a team of motivators, inventors, and coaches; always
striving to grow and evolve. It’s not just a job, it’s a lifestyle. We inspire
our members to fulfil their lives and they rely on us…and we wouldn’t have it
any other way. This is our space.



Third Space is growing. This year we’ve opened 3 clubs with another
planned for the end of the year – and there’s no stopping there. Due to our
growth we’re now looking for a Head of Property Acquisitions to join the
company.



This is a unique and exciting role, and a brand-new role to the
business. Leading the search for potential future sites, and working closely
with the Property Director and CEO, the Head of Property Acquisitions will 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 Head of Property Acquisitions 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.





About the role:

Reporting into the Property Director, the successful candidate will lead the
acquisition process for new sites within London. Understanding the Third Space
ethos and brand values is key, alongside a strong network and expert knowledge
of London. The successful candidate will be critical in the business’ growth
strategy.

Responsibilities will include but are not limited to:




  • 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


Skills and Experience:

  • 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.
  • Regular
    updating and reporting internally on the acquisition, third parties and the
    projects.
  • 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 of very high.




As well as the
usual you get for turning up for work, 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.