Asset Manager_Retail

Primary Purpose

To extract sustainable value from the property portfolio by optimising NAV and NOI through strategic asset planning, disciplined capital deployment, rigorous financial analysis, and sound investment decisions, while ensuring clear delineation from operational functions managed by Property Management.

Key Responsibilities:

• NAV & NOI Growth
• Develop and own individual Asset Business Plans targeting measurable NAV appreciation and NOI growth for each property
• Set portfolio-level income targets and monitor performance of gross revenue, vacancy rates, arrears, and operating cost ratios against approved benchmarks
• Conduct in-depth financial modelling to evaluate value-add initiatives, income optimisation opportunities, and risk-adjusted returns
• Interrogate NOI drivers including rental income, recovery ratios, utility efficiency, and void costs to identify and drive sustainable improvement
• Engage and manage externally appointed independent valuers; provide all relevant supporting data and assumptions and critically review valuation outputs to ensure accuracy, market alignment, and appropriate benchmarking against comparable assets
• Prepare and present portfolio performance reports to internal stakeholders and investment committees, including variance analysis against budget and prior-period benchmarks
• Strategic Asset Optimisation & Capital Allocation
• Identify and evaluate opportunities to grow asset value through acquisitions, disposals, refurbishments, upgrades, and redevelopments, with clear NAV and return-on-investment justification
• Determine the optimal capital deployment strategy per asset, including phasing of capital expenditure to maximise NOI uplift
• Review and approve development and refurbishment feasibility assessments, ensuring financial assumptions are robust and value-accretive thresholds are met
• Lead due diligence processes for acquisitions and disposals, including financial, legal, and market due diligence in collaboration with relevant internal and external specialists
• Evaluate portfolio composition and recommend strategic restructuring including asset disposals or recycling of capital to optimise risk-adjusted portfolio returns
• Leasing Strategy & Income Optimisation
• Set the leasing strategy per asset with the input and involvement of Property Management, including target tenant mix, rental rate positioning, escalation structures, and occupancy targets, in order to maximise long-term sustainable income
• Review and approve lease terms for national, anchor, and major tenants to ensure alignment with asset strategy and income objectives
• Monitor leasing performance at a strategic level including vacancy trends, lease expiry profiles, and weighted average lease expiry (WALE) and direct Property Management on priority letting actions
• Engage directly with national and anchor tenants on strategic lease renewals, expansions, or renegotiations where income impact is material
• Evaluate and approve tenant mix proposals brought forward by Property Management, ensuring income and NAV implications are assessed before commitment
• Financial Performance & Investment Reporting
• Set annual income and expenditure budgets per asset in collaboration with Property Management, ensuring targets reflect the Asset Business Plan
• Hold accountability for portfolio-level financial outcomes, including NAV and NOI performance, distribution yield, and total return metrics
• Analyse and interpret monthly management accounts, flagging material variances and directing corrective action at a strategic level
• Assess the financial impact of capital projects, lease incentives, and strategic decisions before approval, including scenario and sensitivity analysis
• Track and report NAV movement across the portfolio on a periodic basis, identifying key drivers and informing forward strategy
• Risk Management & Strategic Compliance
• Identify, assess, and actively manage investment and asset-level risks including tenant concentration, lease expiry risk, market exposure, and capital obsolescence
• Ensure material statutory and regulatory risks with a direct bearing on asset value or income including environmental, zoning, and building compliance are escalated to the appropriate teams and reflected in asset valuations and propose remedial plans
• Maintain awareness of market, economic, and sector trends that may affect asset values or income streams, and adjust Asset Business Plans accordingly
• Collaborate with sustainability and ESG initiatives, including the evaluation of solar and green energy investment cases where these improve NOI or asset value
• Stakeholder & Property Management Interface
• Provide clear strategic direction to Property Management on income priorities, capital allocation decisions, and asset improvement initiatives
• Review operational and management reports submitted by Property Management and provide strategic feedback and direction
• Escalate matters requiring investment committee approval and ensure Property Management is informed of strategic decisions affecting daily operations
• Maintain effective relationships with investors, lenders, valuers, legal advisors, and other external stakeholders on matters of strategic importance

Requirements:

Education & Experience

• Relevant tertiary qualification in Property, Finance, Investment, or a related field; postgraduate qualification advantageous
• Minimum 7–10 years’ experience in asset management, property investment, or a senior commercial property role within a REIT or institutional property environment
• Proven track record in growing NAV and NOI
• Experience in property valuation, investment analysis, and capital allocation decisions
• Exposure to acquisition and disposal processes, including financial and legal due diligence

Technical Skills

• Advanced financial modelling and analytical capability (DCF, IRR, NPV, yield analysis)
• Strong understanding of REIT accounting, distribution mechanics, and investment return metrics
• Advanced proficiency in Microsoft Excel; competency in Word and PowerPoint for reporting and committee papers
• Familiarity with property management and reporting platforms (MRI, Yardi, or equivalent) advantageous

Competencies

• Strategic thinking with the ability to translate investment objectives into executable asset plans
• Strong commercial acumen and sound financial judgement
• Excellent negotiation and stakeholder management skills
• High analytical rigour with attention to detail and accuracy
• Ability to influence, direct, and collaborate effectively across teams without line authority over operational staff
• Self-driven, proactive, and able to manage competing priorities under pressure