Real Estate : identifying new premises, locations and buildings, leasing real estate, buying and selling property, construction and maintenance.
Responsible for the management of the designated Property Leasing Portfolio ensuring that value is obtained for the Bank in terms of both position and price, in the context of the Bank’s leasing strategy.
To expertly negotiate occupation for Retail & Commercial properties & commit the Bank to the Lease contract in line with applicable approvals and engagement obtained from Business.
Lease contracts are complex in nature given the varied requirements by site.
Key Responsibilities / Accountabilities
Negotiate Skilfully with new and Existing landlord’s over contracted rates and terms based on mandates received from Business.
Keep rentals below the agreed annual escalation targets
Manage lease expiry dates within portfolio. Ensure that lease negotiations commence in time to meet lease expiry obligations.
Ensure appropriate documentation is concluded to protect the Bank from any risks
Participate in negotiations in conjunction with key relationship managers for Non-Customer Facing Buildings
Build and maintain key relationships with specific groups of landlords
Research market rentals and current market conditions, including total landlord exposure.
Understand in depth market conditions and rentals
Group view of total landlord space and negotiations are based on landlord portfolio size / exposure rather than per individual site.
Provide insights and recommendations regarding new developments, changes in the property market that will impact our branch and ATM locations.
Leverage tenant obligations, relocation opportunities and positioning to optimise site location and reduce occupancy costs in collaboration with the Placement team.
Exercise options on renewals. Analysing the implications of lease terms, and understand balancing short-term gains vs long-
term cost implications and vice versa
Draft and prepare lease modifications for existing sites as necessary
Negotiate other various projects such as early termination, site expansions and revamp conditions
Monitor contractual terms and conditions and other critical issues in conjunction with the administration team.
Negotiate New Premises in Existing Building or New Premises in New Developments
Co-ordinate and obtain sign offs of the Due Diligence Meeting between the Professional Teams to evaluate the options available to achieve a forum agreement as to the most suitable premises.
Obtain documents for new premises in new developments viz. Council Approval for the Development, Environmental Impact Study, Notarial Tie requirements / agreements, Stand Zoning Certificates & Resolution 38, Tenant Criteria Document, Additional compliance documents in the instance of new premises in existing buildings viz : Woodborer / termite, Asbestos, Fire, Electrical and Occupation Certificates, etc.
Obtain drawings from Developers for new premises viz. site plan, building floor plans, sections, elevations, electrical, mechanical and structural drawings and forward to Design.
Arrange to upload / distribute the Offer of Acceptance and the finalised Agreement of Lease to the Technical teams.
Issue invoices to Landlord / Developer for recovery of Tenant Installation Allowances
Negotiate for New Renewals, refurbishments, relocations & reductions and exits
Engage and advise business from a Real Estate point of View for new leases and lease renewals.
Undertake proper due diligence of the premises.
Undertake extensive market rental surveys
Negotiate and agree the most favourable market related lease terms and conditions.
Obtain formal Approval from the Bank via a Lease Approval Memorandum (LAM).
Obtain fully signed lease agreement.
Update SAP database for MIS.
Ensure safekeeping of Lease Agreement.
Manage Renewal Diary, make sure that leases are renewed at least 6 months before expiry date of the lease.
Ensure smooth exit from the premises, when the Bank vacates the premises.
Obtain Landlord’s confirmation in writing that there will be no further claims against the Bank after lease expiry date.
Conduct due diligence process including credit criteria and KYC for sub-Letting of premises
Confirm and conclude all legal lease documentation for compliance and regulatory and requirements
Request Landlord terms from the landlords
Complete offer letter to Landlords and counter offers if necessary
Finalise official signing of documentation to form Heads of Agreement formulated by Legal
Prepare Lease Administrative Mandate & Heads of Agreement for distribution to Lease Administration
Plan and manage portfolio
Manage the allocated Property Portfolio in accordance with the Strategic Plan as cascaded by the Head Property Leasing
Present Portfolio overview at Monthly Property Distribution Panning Steercom Meetings to give feedback on the status of the portfolios leasing activities to our Business Partners and ascertain their Premises Requirements In line with Business Objectives.
Establish and maintain accurate management reports for the allocated portfolios e.g. Lease Renewal Diary, Lease progress Reports, Portfolio Schedules etc
Aid the relevant Provincial Property Managers & Finance Managers with projections in the preparation of annual rental budgets.
Provide Leasing Advisory Services to our business partners and portfolio stakeholders.
Provide Direction on approaches to best practices in the market and offer the guidance and advice to business to meet current / different / future business outcomes that are relevant to the changes that impacts business
Ensure meeting of Service levels as Rated by business in respect of agreed annual rental escalations & turn around times for securing of Premises.
Preferred Qualification and Experience
First Degree - Field of study : Generic Management
Property Management & Lease Negotiation and or Property Intermediary Programme (PIP) Sapoa (South African Property Owners Association) in conjunction with University
5 - 7 Years experience in Real Estate Management - Experience Description :
Experience in managing relationships with commercial landlords and senior executives. Knowledge of commercial property transactions and related legislation.
Experience in both retail and commercial lease negotiation. Experience in the use of business intelligence to inform lease negotiations.
Understanding of property valuation, property development and Conveyancing. Understanding of the market in the portfolio managed to enable the determination of rental, escalation levels and other terms and conditions which are in the best interests of the Bank.
Experience in developing / drafting lease clauses for properties with specific or unusual needs. Knowledge of commercial property transactions and related legislation.
Experience in the management and administration of existing leases (renewals, escalations etc) in a lease portfolio containing a cross-
section of leases in terms of both value and complexity. With
Least 1 - 2 Years’ experience in a financial institution.
3 - 4 Years experience in Legal Experience Description : Legal experience in contract management
Knowledge / Technical Skills / Expertise
Deal Negotiation - Competency Description : The ability to lead and direct the negotiation strategy, drive the best negotiation of terms and conditions for occupation of space
Occupant Services - Competency Description : Click here to enter text.The ability to determine services required by building occupants and contract and deliver those services.
Rental Calculations - Competency Description : The ability to determine the formulas to use in the determination of rentable and usable space.
Risk Awareness - Competency Description : General awareness of risk management practices in a financial services organisation.
Contract Management - Competency Description : The ability to manage contractual obligations to deliver the objectives required in the contract.