Location - London / Remote / Hybrid
Level - Associate Director / Director
Salary dependent on experience + bonus
This is not a standard Development Monitoring role.
You’ll join a highly regarded specialist consultancy working with banks and development lenders on projects that have moved beyond normal monthly monitoring and into workout, recovery and special situations.
The work starts where conventional Development Monitoring sometimes finishes.
A contractor may have failed. A developer may be in difficulty. Costs may have moved substantially. Progress may not be what has been reported. The lender may have taken control of the situation and needs somebody experienced enough to establish exactly where the project stands and what needs to happen next.
The Role
You’ll work on distressed and complex development projects, in London, and on occasion further afield advising lenders on how best to protect and recover their position.
Depending on the project, this could involve:
establishing the true cost-to-complete;
reviewing progress, programme and drawdown position;
interrogating development budgets and construction information;
working alongside receivers, insolvency practitioners, developers and contractors;
identifying problems early and recommending practical solutions;
overseeing projects more intensively than a conventional monthly monitoring instruction;
helping lenders determine the best route through to completion or recovery.
There will still be Development Monitoring work, but the attraction of this role is the difficult stuff.
These are the projects where somebody needs to get underneath what is actually happening rather than simply report what they have been told.
About You
You’ll already have substantial Development Monitoring experience and, ideally, direct exposure to distressed developments, workout, recovery or problem projects.
You could currently be working within a Monitoring consultancy, lender, bank or specialist development finance business.
This is likely to suit somebody operating at Associate Director or Director level, although the title itself is less important than the experience you bring.
You need to be comfortable walking onto a difficult development, speaking to the people involved, challenging the information in front of you and forming an independent view of the real position.
You’ll probably have:
strong Development Monitoring experience;
an excellent understanding of development finance and construction risk;
experience reviewing cost plans, programmes and cost-to-complete;
strong report writing and analytical skills;
confidence dealing with senior lender, developer and contractor stakeholders;
the ability to remain pragmatic when projects become difficult.
MRICS would be useful, although significant relevant experience is more important than following a particular career route.
The Opportunity
The business already has an excellent reputation in Development Monitoring and is seeing increasing demand from lenders for support on distressed and unusual projects.
This is therefore an opportunity to join an established Monitoring consultancy while becoming part of a growing specialist area of the business.
If you enjoy the projects that go wrong more than the ones that simply run to plan, this could be a particularly interesting role.
Click Apply or get in touch for a confidential conversation with Andrew Pearson at EC Property Recruitment. My contact number is (phone number removed), and you can find all my details on LinkedIn
Salary description
£80000.00 - £100000.00 per year