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Our Commercial Development teams focus on generating non-fare related revenue for the organisation covering commercial partnerships, advertising and retail and property development. Commercial Property is at the heart of solving some of our City’s biggest challenges – housing pressures, our financial challenge and the need to keep London moving, working and growing.
We have an ambitious housing programme which will provide more than 10,000 homes across more than 50 sites, with 50 per cent affordable housing across all sites brought to the market since May 2016. Construction has already started on some 1,500 and we have thousands of more homes coming forward. All profits from development are reinvested back into the transport network.
The Role
As a graduate, your two year development programme will be made up of up to four placement rotations. Our aim is to equip you with the range of skills and experience you need for your successful career. We also understand that everyone’s career is different, so every graduate’s journey is unique. Here’s an idea of what your first year on the scheme could look like:
Year 1
Placement 1 – Commercial Property Management - 6 months
Focused on the renewal of excluded and protected leases, you will be undertaking the rent reviews, lease assignments, licences to alter, inspections and measurements. You will also maintain and observe the Health and Safety regulations and manage the maintenance of the building using a service charge budget.
Placement 2 – Commercial Asset Management – 6 months
You will undertake asset strategies and projects, including refurbishments and unit amalgamation, lettings, market liaison, valuations, business planning, budgeting and associated place making aligned to our customer strategy.
Year 2
Placement 3 – Commercial Property Development - 6 months
You will carry out development appraisals, including carrying out inspections and measurements for the purpose of valuation. A primary role will also involve working within planning regulations and policies. You will receive training on the valuation tool Argus.
Placement 4 – Commercial Development Operational Group or Development – 6 months
Depending on your Assessment of Professional Competence (APC) pathway, you may gain experience in rating or compulsory purchase orders (CPO). In addition, you will liaise with third party surveyors on dilapidations, service charges, inspections and measurements. You will get the unique experience of acting as agent for both landlord and tenant.
Your first placement will be fixed and your following placements will be mutually agreed to ensure you gain experience on the widest possible range of technologies, tools and teams. In your second year, you will have the opportunity to tailor your time with us to suit your needs. Your final placement will be in the chosen team which you would like to roll-off into.
Requirements
Everything we do as an organisation is to ensure that our evolving city remains future-proof for millions of Londoners. Our talented graduates form a vital part of that vision, so it’s important that we find the best people to help us do this. We’re looking for people who;
- Take accountability for their work and are flexible when dealing with the unexpected
Have a minimum degree of 2:2 or a Masters in the following degrees such as Estate Management, Property Management, Real Estate and Real Estate Management, or a similar Royal Institution of Chartered Surveyors (RICS) accredited degree.
Have a desire to keep learning, be organised and have good attention to detail
- Relish a challenge, display enthusiasm and drive, and enjoy working with people
As a member of the team, we’ll give you responsibility and the opportunity to add value from day one. If you are excited by inspiring and influencing the future of London and are up for a challenge and thrive under pressure, then this is the career path for you.
What you can expect from us
Property provides a fantastic opportunity to make a difference using your own skill set. There are many avenues to pursue and a myriad of options depending on the choices you take and the work you choose to get involved with. At TfL, we provide the opportunity to gain qualifications and develop a career in the property world through our diverse teams including Property Management, Asset Management, Lease & Letting, Lease Renewals & Rent Reviews, Development Appraisals for large projects, CPO work and project feasibility across all asset types including office, retail, residential and industrial.
Upon completing the scheme, your immediate progression continues the support to gain your qualifications (APC), and roll off into a team on successful acquisition of your Assessment of Professional Competence,
Over the next five years, our successful graduates will work towards becoming a Senior Surveyor or Development Manager and will be developing their leadership, technical and professional skills through on the job training.
Whilst on the scheme, we’ll support your technical development through a wide range of on-the-job practical experiences and placements. We’ll also support your professional development through a combination of classroom-led training courses, online training courses, mentoring opportunities and structured networking opportunities. You will receive one-to-one support throughout the programme from your scheme sponsor, your Line Manager and Mentor. You’ll also be connected to a ‘buddy’ who will be an alumnus from the scheme.
The course will include TfL’s preferred APC course such as, ‘The Kingston course’. You will receive support from a committed team of RICS accredited professionals who will help and advise you through the process.
We also have an established Graduate and Apprentice Committee and Alumni group, who organise informative events to enhance your understanding of the organisation and provide opportunities to develop your career. They also provide valuable support for the wellbeing of current graduates.
