Development manager (Finance and Investment) role
Title: Development Manager
Role: Full time
Location: London, minimum 3 days in the office.
Salary: £50,000 - £75,000 p.a.
Application deadline: midday, Friday 24th March 2023
We are hiring for a Development Manager, specialising in finance and investment, who can bring technical and financial support to the evaluation of new development opportunities and development management of existing schemes.
Stories is a socially responsible property development company and a certified B Corp. Stories operates as principal developer, development manager and strategic advisor on projects that have a higher purpose than just financial returns. We have recently secured several new projects in partnership with great organisations in London, Oxford, and the South-West as well as a very exciting joint venture with a major financial institution that we will be launching in the spring. We are therefore excited to be growing the team.
Coming from different property backgrounds, we set up Stories in 2018 so we could use our development skills to create positive outcomes for people. We’re a small team – the three Co-founders and three Senior Development Managers – and have an Advisory Board comprising some of our industry’s most experienced individuals. Our new projects and pipeline are incredibly exciting and we are looking for a person to come and join us as we grow.
Our projects create property and places for a diverse array of people, therefore we believe it is important to have a diverse team at the decision table to ensure successful development outcomes for all. That is why alongside our projects, our business is committed to improving access and widening participation in our industry and, alongside our day jobs, we have made a long term commitment to this cause.
What matters most to us is finding somebody that really cares about people, knows that property development can be a positive force for change and can bring a fresh perspective to what we are trying to achieve.
You can find out more about us, our partners and some of our projects at www.stories.partners/projects
What are we looking for?
We are hiring for a Development Manager, specialising in finance and investment, who can bring technical and financial support to the evaluation of new development opportunities and development management of existing schemes. You will need to have excellent financial modelling and Excel skills, with a high level of attention to detail. We are looking for someone who cares about the quality of the data that they work with, and most importantly someone who is interested in what the outputs of their work mean and what the implications are. You will be familiar with the concept of the 'triple bottom line' and recognise that whilst financial returns are important, they should not be the only metric used in the assessment of property development projects.
The role will involve a significant proportion of your time undertaking financial analysis and due diligence, whether that is preparing a residual appraisal and Excel cashflow to test the viability of a possible development project or modelling scenarios to understand the optimal development strategy for an asset. Although the role is numerically focused, it will involve wider responsibilities. We are looking for someone who can help grow, support and manage our relationships with investors and other stakeholders, through clear presentation of material, accuracy of content, good appreciation of risks and wider personal relationship skills.
Regardless of your professional background, you will need to be well versed in the property development process, bring an open mind to help us do projects differently and help us build this business. Perhaps through curiosity, sometimes through necessity, you will find yourself expanding your experience substantially.
Some attributes that we think are important:
An engaging person – kind, thoughtful, hard-working, strong integrity and interested in the world.
Problem solving aptitude – the ability to creatively problem solve in new situations, big or small.
Entrepreneurial spirit – this doesn’t just mean starting a business, there’s lots of ways to be entrepreneurial – taking an idea and running with it.
Equally comfortable with big visions and detailed numbers – competence in both and a willingness to do it yourself.
Good at communicating – experience of successfully conveying information to a diverse audience, both in writing and in person.
A good collaborator – as well as working individually, possessing a good team work ethic is important internally and externally.
If you can see the opportunity to make positive change in people’s lives through property development, we want to hear from you.
We are hiring for a Development Manager (Finance and Investment) and are looking for somebody that has excellent financial and analytical skills.
We realise that everyone has their own story, so we’re open minded about how you might shape this role and the specific experience and skills you will bring to it. You might have a background in property, or it might be that you are working in the finance or accountancy sector and are motivated to make a change. Having said that, your role will be focused (in the short term at least) on:
supporting the financial analysis and due diligence of new development opportunities
supporting with the financial and technical aspects of existing live projects
supporting in the corporate finance of the wider business.
As Stories grows as a business there is a long-term opportunity for the role to evolve into a business-wide finance and corporate role, if this is something that interests you.
We are not expecting you to have any particular qualifications, but we are looking for someone who has:
a strong understanding of the fundamentals of property investment and development
the ability to distil complex data and use this data to build well-structured, clear and easy to understand models
technical expertise in the appraisal of development schemes
a high level of attention to detail
a commercial approach
a strong interest in the development and funding implications of their financial analysis.
We are advertising for a full-time role based in London. Generally, we are in the office at least 3 days a week. That said, we all have different circumstances, so we are open to you proposing an alternative arrangement.
We are quite flexible on where you live, as we are not all based in London, but the role will require you to be in London for a minimum of 3 days per week (sometimes more) and with ad hoc meetings in other locations as needed. Our office is on Tottenham Court Road and we will be maintaining a hybrid approach to work.
This will never be an exhaustive list. We are a small but growing business. Sometimes we are pitching to major landowner institutions, sometimes we’re having important funding meetings, sometimes we’re making the tea. To an extent, you will carve out your own particular role and help us to grow the company together. We hope you find this an exciting prospect.
Core Project responsibilities
Currently, we are evaluating a number of opportunities in our pipeline and are launching a joint venture with a major financial institution in the Spring to take on additional development projects that align with our purpose and values. Your initial responsibilities will be to support on the financial analysis and due diligence of these development opportunities as we grow the Stories business and pipeline. You will also be responsible for providing technical and financial support on Stories’ existing schemes where we are acting as the development manager or principal developer. Supporting in this work effectively will require:
Building clear and accurate Excel models, including cashflows, for major mixed use development schemes
Undertaking development appraisals
Modelling and testing development scenarios (including the use of Monte Carlo analysis)
Financial management of live projects
Finance and funding research and analysis
Undertaking strategic development reviews of schemes at various stages RIBA 0-3
Supporting in the development of Business Cases for new project opportunities
Good project management, including of bid processes
Managing relationships and working collaboratively with our joint venture partners and other stakeholders.
There are plenty of other things you may get involved with, some linked to other projects, some in support of the business and as suited to your skills and interests. These could include:
Supporting in the corporate finance of the wider business including cash flow modelling, funding strategies and business forecasts
Helping with bidding and securing new projects
Being active in the industry through networking, thought leadership, blogging, etc. to build both your personal and Stories’ brand, market knowledge and relationships
Designing models and dashboards
Equality, Diversity and inclusion
In support of the ongoing success of Stories’ staff, the teams we work with, the industry we work within and the wider communities that we both develop and work with, Stories is committed and accountable for advancing equality, diversity and inclusion in all its forms.
Stories believes that diversity is critical to maintaining excellence in all our endeavours and recognises the benefits that diversity can bring to maximise corporate goals.
Our ED&I policy can be read here
Type of Role: Full time, but open to discussing alternative proposals (especially if you are returning to the work place, for example).
Salary: We are offering a basic full time salary in the range of £50,000 to £75,000, based on level of experience and your ability to meet the needs of our current projects.
Share pool and discretionary bonus: Stories is putting in place an incentive structure that ensures all team members have a stake in the success of the business. More detail will be provided to shortlisted applicants.
Pension: We will make the standard 3% employer contribution to your pension.
Annual Leave: 25 days per year (in addition to Bank Holidays).
Location: London is where we are based, but we currently have projects in London, Oxford and elsewhere regionally, and our pipeline includes projects anywhere within 1.5-2 hours of London or Bristol. The role will require you to be in London for a minimum of 2 days per week (sometimes more) and with ad hoc meetings in other locations as needed. But again, we’re happy to consider other setups.
Place of work: Stories’ office is presently on Tottenham Court Road, London and will remain in Central London for the foreseeable future. You will be based here, splitting your time between the office, working from home and out and about meeting people, as required.
Parental pay: 12 weeks full pay.
IT: Your choice of company phone and laptop (within reason)
Termination: Three months’ notice after probation period.
We all live the in the real world. Sometimes your projects will need you, sometimes other things do and we want to create the space to let that happen. We trust you to manage your time effectively.
Friday is your day to structure as you wish, noting the expectation that you will make sufficient time available across the week to deliver against your responsibilities and targets. We therefore seek to avoid having any meetings or the expectation of always being contactable on a Friday.
Just as we expect people to muck in outside normal hours, we want to make sure it works fairly the other way. The aim of Friday My Day is to give you the space and quiet time to get on with work. Equally, the day is yours to structure as you see fit so you could choose to go to a matinee, have a late morning swim, or spend some time with family.
Other benefits: We do not currently offer any other benefits (private health care etc.) but this is something we will be reviewing as we grow.
Please submit your CV and a covering letter to firstname.lastname@example.org
Closing date for submissions is midday, Friday 24th March 2023 but we encourage you to apply as soon as you are ready.
We will be in touch with shortlisted applicants within 2 weeks of the submission deadline.
Your application will be treated as private and confidential and your data will not be shared with anyone outside of Stories.