Job Description:

Commercial Manager - Real Estate Development



Job titleCommercial Manager
LocationHead Office, five days a week in the office
Reports toSenior Commercial Manager
SectorReal estate development - student accommodation, build to rent, hotel and commercial

The business

A privately held UK property group with a focus on purpose-built student housing, build to rent, hotels and commercial space, operating in London and other UK markets.
The group has been trading for more than ten years and now manages assets worth over £2bn. It runs the whole property lifecycle in-house, from sourcing and buying sites through design, planning and delivery to ongoing asset management.
Each scheme is treated on its own merits, with a tailored plan for getting the best return. Experienced people, supported by long-standing partners, have earned the group a strong name for build quality.

The opportunity

This hire will take ownership of cost control across the group's design and build developments. The remit covers early cost planning, challenging designs on price, running procurement and keeping each project inside its approved budget.
The post also works alongside colleagues in other functions, notably the development lead who looks at sites before purchase, to give a commercial view on opportunities and issues from the acquisition stage onward.

Core duties

• Build cost plans and budgets for each scheme that match the brief and financial limits set by the investment team.
• Keep precise cost estimates, procurement programmes and cash flow forecasts up to date.
• Partner with development managers and designers so that proposals are affordable and buildable within the agreed budget.
• Engage contractors, sub-contractors and suppliers to secure competitive pricing on materials and services.
• Produce tender packages, assess the bids that come back, and put recommendations to the development managers and the projects director.
• Run project budgets and the change control process, judge how changes affect cost and programme, and act early to protect margin.
• Make sure contract terms are followed, anticipating risk, dealing with claims and settling disputes so that project results are protected.
• Administer variations, change control and time extension claims strictly in line with the contract.
• Supply the finance team with regular updates on project spend and budget position.

How the role supports each project stage

Concept and feasibility (RIBA 0)

• Carry out feasibility reviews and early cost estimates for prospective schemes.
• Tell the investment team what different design choices and requirements will cost.

Briefing (RIBA 1)

• Give cost input while the investment team's brief takes shape.
• Set up the first cost plan and budget.

Concept design (RIBA 2)

• Work with the development managers and designers to keep the design affordable and deliverable.
• Turn the concept design into a more detailed cost plan and budget.

Developed design (RIBA 3)

• Direct the external quantity surveyors, who join at this point to produce detailed bills of quantities.
• Analyse tender returns and advise the project team.
• Help shape the construction programme and the cash flow forecast.

Technical design (RIBA 4)

• Examine the detailed design and flag any cost consequences to the team.
• Draw up the procurement schedule and assess tenders.

Construction (RIBA 5)

• Control change, weighing the cost and programme effect of each instruction.
• Report to the development manager and projects director on spend, budget and progress.
• Visit site and value variations.

Handover and close-out (RIBA 6)

• Keep a full and accurate record of project costs.
• Issue final cost reports and explain variances.

Wider remit

Governance

• Join the monthly project review meeting and keep senior management updated on progress and problems.

Stakeholders

• Inside the business: regular contact with the development, projects and planning directors.
• Outside the business: the main point of contact for counterparts at contractors, suppliers, manufacturers and cost consultancies.

Typical external contacts include:

• Lenders' representatives: building a working relationship with the monitoring surveyors who act for the funder on your schemes.
• Contractors: collaborating closely with the firms delivering your projects, and developing links with dependable, experienced builders so work lands on time and on budget.
• Consultant teams: contributing to design development with the professional team to hold quality high.
• Trade bodies: keeping up with market trends, meeting peers and spotting new opportunities.

A flavour of the live pipeline

• Student scheme of around 500 beds in a large regional city - in planning
• Student scheme of around 700 beds in central London - tendering and on site
• Hotel of around 900 rooms in the capital - tendering and on site
• Student scheme of around 700 beds in the capital - in planning
• A second central London student scheme of around 700 beds - on site
• Hotel of around 300 rooms in the capital - pre-contract and in planning

About you

• A degree in quantity surveying or a related discipline.
• Client-side or developer experience, ideally in student housing, hotels or co-living.
• Confident with Excel and cost estimating tools.
• Analytical, with a careful eye for detail.
• Clear communicator who builds good working relationships with contractors, suppliers and internal clients.
• Resilient under pressure and a natural problem solver who hits deadlines.
• Working knowledge of industry standards, regulations and codes of practice.
• Has managed a portfolio of several schemes at once, from inception through to completion.