Head of Acquisitions

Third Space is a collection of luxury health clubs in London; individual in style, bound by a common philosophy: to provide outstanding fitness spaces that members feel are their own. Our people are the creators that bring the space to life. We’re a team of motivators, inventors, and coaches; always striving to grow and evolve. It’s not just a job, it’s a lifestyle. We inspire our members to fulfil their lives and they rely on us…and we wouldn’t have it any other way. This is our space.

Third Space is growing. This year we’ve opened 3 clubs with another planned for the end of the year – and there’s no stopping there. Due to our growth we’re now looking for a Head of Property Acquisitions to join the company.

This is a unique and exciting role, and a brand-new role to the business. Leading the search for potential future sites, and working closely with the Property Director and CEO, the Head of Property Acquisitions will play a key role in Third Space’s growth over the coming years.

Using expert knowledge of London and a strong network of connections in the area, the Head of Property Acquisitions will identify and present potential new sites. Creative and visionary, they will be able to view spaces with potential in mind. They will also be heavily involved in negotiations and planning our future pipeline to support our growth plans.

About the role:

Reporting into the Property Director, the successful candidate will lead the acquisition process for new sites within London. Understanding the Third Space ethos and brand values is key, alongside a strong network and expert knowledge of London. The successful candidate will be critical in the business’ growth strategy.

Responsibilities will include but are not limited to:

• Research, identify and evaluate potential locations for new Third Space clubs, using market research, demographic studies and financial analysis
• Conduct negotiations with property owners and developers, in partnership with the Property Director, CEO and their teams and external consultants, project managing often lengthy and complex negotiations
• Establish a strong and robust process for prospective acquisitions, which will include a hot spot catchment area focus, identifying off market opportunities as well as more conventional and landlord / developer led opportunities.
• Prepare board papers for new site investment proposals
• Coordinate with Legal, Finance, and Operations teams to ensure acquisitions are in line with company strategy, profitability and requirements
• Work closely with and continue to develop a strong Third Space external relationships with our retained agents, legal advisors, and other consultants

Skills and Experience:

• 5+ years of real estate acquisitions experience, preferably in retail, hospitality, leisure or fitness.
• Proven negotiation and property transaction success.
• Deep knowledge of London, including property dynamics, investors, developers, agents and demographics
• Detailed understanding of commercial leases, including value drivers for tenants and landlords, and broad understanding of legal process for negotiating long leases
• Knowledge of financial controls on capital expenditure throughout ongoing projects.
• Reporting and management of end to end acquisition process.
• Regular updating and reporting internally on the acquisition, third parties and the projects.
• A creative, persistent and patient approach will be required – our volume of new sites is relatively low (3-5 per annum), the lead times are often long (up to 3 years) and the quality bar of very high.

As well as the usual you get for turning up for work, you and a buddy will get complimentary memberships to all of our amazing health clubs to attend as many cycling classes as your legs will allow! You will also receive discounted prices within our Spa, Medical, Retail and Natural Fitness Food offerings as well as with our first class Personal Trainers.