Asset Manager - Real Estate Long Income

At M&G, our purpose is to give everyone real confidence to put their money to work. With a heritage dating back more than 175 years, we have a long history of innovation in savings and investments, combining asset management and insurance expertise to offer a wide range of solutions.

Our two distinct operating segments, Asset Management and Life, work together to provide access to balanced, long-term investment and savings solutions.

Through telling it like it is, owning it now and moving it forward together with care and integrity; we are creating an exceptional place to work for exceptional talent.

We will consider flexible working arrangements for any of our roles and offer workplace adjustments to ensure you have the support you need to succeed in your role.

The Role

Asset Manager for M&G Plc long lease property portfolio (c. £5.5 billion of AUM and growing). To deal with any property or landlord and tenant issues (including oversight of outsourced property management). To build relationships with tenants, monitor trading information and deliver the portfolio strategy, including ESG initiatives.

M&G long lease property portfolio consists of circa 250 FRI single-let properties, let on long term inflation-linked leases.  The properties range from traditional offices and supermarkets to a wide range of operational assets including gyms, student accommodation and hotels. The portfolio has no vacant units and an average unexpired term of twenty years and is entirely based in the UK. As such, it does not require significant traditional asset management in terms of lease expiries, but there is a need to deal with tenant and physical property issues, plus monitoring of operational performance and reporting to make sure the portfolio continues to outperform. Further, there is the potential to pursue value-accretive initiatives, such as lease re-gears across the portfolio and development opportunities on those assets where leases are getting closer to expiry.

Key Responsibilities

· Identify opportunities to enhance asset performance and seek the approval of the Fund Manager to implement, and specifically on shorter leases;

o    Identify, negotiate and implement initiatives including re-gearing leases and reconfiguring properties to enhance the income return;

o    Assist on the annual RPI rent review process utilising resource as agreed with other colleagues

· Approve the property management strategy and objectives and oversee implementation by the Property Manager, including the following:

o    Ensure that income is maximised and non-recoverable costs proactively managed and minimised;

o    Ensure that assets are kept "ready for sale" (other than where part of an agreed strategy) and support the Investment Manager with asset sales.

· Management of operational assets;

· Monitor operational assets trading data. Ensure all contractual data is received and analysed in a timely manner (there is analysis support in the broader team). Ensure the Credit Analysts/Fund Management team receives this financial information on an ongoing basis.

· Arrange and attend tenant meetings, build relationships with tenants and deal with any landlord and tenant matters that arise in conjunction with the property manager;

· Provide relevant information to the appointed external valuers, attend valuation meetings as required;

· After purchase of new assets, seek to identify and resolve any title or property issues;

· Ensuring the accuracy of all property data held on the relevant investment management systems and to keep TRAMS up to date at all times. Monitor rent collection to ensure any arrears are quickly dealt with;

· To understand M&G Real Estate’s Sustainability vision and apply the Sustainability Strategy demonstrating appreciation of costs and awareness of driving investment returns. Lead on the ESG strategy for the Funds, ensuring EPC risks are minimised, collecting data for GRESB, work with tenants to provide ESG improvements on their portfolio.

·  Given the number of assets with sleeping accommodation, understand fire risk across the portfolio, and work with tenants to try and reduce this or if necessary oversee remediation works.

· To understand and demonstrate positive behaviours in line with our Attributes and Expectations;

· To understand the Health and Safety responsibilities appropriate for your role and ensure that they are undertaken in accordance with the relevant Company policies, procedures and guidelines. This includes responsibilities relating to your own H&S and others affected by your actions. Any concerns relating to H&S risks must be escalated to your line Manager and the Company’s H&S Manager and specify fire safety.  Take responsibility for health, safety and fire risk across the portfolio;

· Fulfil regulatory requirements, including timely completion of all regulatory training and declarations;

· Reporting – take responsibility for, and provide in good time, the following;

o    Quarterly Asset Management Board report for trustees;

o    Team updates;

o    Quarterly Property Management meetings with CBRE and ensure they are meeting their KPI’s

Key Knowledge, Skills & Experience

· MRICS, FRICS or equivalent professional qualification. Ten years post qualification experience.

· M&G allow an element of flexible working and the role could be part time depending on candidate experience.

· Strong commercial real estate asset management experience, with a proven track record of enhancing asset performance and delivering income growth.

· Sound knowledge of landlord and tenant matters, including lease negotiations, rent reviews, lease re-gears and asset repositioning.

· Experience overseeing property managers and external advisers, ensuring delivery against agreed objectives and KPIs.

· Strong financial and analytical skills, with the ability to interpret asset, operational and valuation data to support investment decisions.

· Knowledge of sustainability and ESG principles within real estate, including EPC requirements, GRESB reporting and asset improvement initiatives.

· Understanding of property-related health, safety and fire risk management obligations.

· Excellent stakeholder management, communication and negotiation skills, with the ability to build effective relationships with tenants, fund managers and external partners.

· Strong organisational skills, attention to detail and experience preparing reports for senior stakeholders, boards or trustees.

· Proficient in maintaining property and asset management systems and ensuring high-quality portfolio data.

Recruiter: Natalie Renn

Work Level: Manager or Expert

What we offer:

We’re dedicated to supporting your wellbeing and helping you thrive, both at work and beyond. Our benefits are designed to help you balance your professional and personal life , and financially plan for the future. Our UK benefits include :

- A valuable pension scheme of up to 18% (13% made up of employer contributions and 5% employee contributions).
- Access to our Share Save and Share Incentive Plan, alongside financial wellbeing and support services to help give you real confidence to put your money to work.
- Enjoy 38 days annual leave (including bank holidays), with the opportunity to purchase up to five extra days. Our Time Off When You Need It policy gives you the flexibility - to balance work and personal commitments.
- Our market-leading Inspiring Families policy includes comprehensive support and paid parental leave covering maternity, adoption, surrogacy, and paternity leave - because supporting families is an important part of our inclusive culture.
- Health & Protection cover includes Private Healthcare, Critical Illness cover and Life Assurance for you, with additional family options - for peace of mind.

To explore more about life at M&G and our full benefits offering, visit Life at M&G

At M&G we strive to have a diverse workforce and an inclusive culture, underpinned by our policies and employee-led networks that offer networking, support and development opportunities for the diverse communities our colleagues represent. We welcome applications from people of all backgrounds – across gender, ethnicity, age, disability, sexual orientation and more – including neurodivergent individuals, career returners and those with military service experience.

M&G is proud to be Level 3: Disability Confident Leader under the UK Government Disability Confident employer scheme, and we welcome applications from candidates with disabilities and long-term health conditions. If you would like to participate in the initiative, you will have the opportunity to indicate this on your application.

We are committed to providing an inclusive recruitment process. All candidates have the opportunity to request reasonable adjustments when applying. If you need any additional support at any stage, please contact us at: [email protected]