Graduate Development Manager

Watershed Consulting; Cape Town; On-site; ZAR 300 000 - 450 000; Full time

Job summary

A leading consulting firm is seeking a Graduate Development Manager for Commercial Property Development in Cape Town. You will manage project initiation, carry out commercial feasibility studies, and oversee the design, leasing, and regulatory aspects of property development. Responsibilities include conducting market analyses, financial modeling, and ensuring compliance with local zoning laws. Ideal candidates should have a relevant degree and strong negotiation and risk management skills. This role offers a competitive salary and opportunities for career growth.

Qualifications

• Bachelor's degree in a related field is mandatory.
• A Master's or professional certification is a strong advantage.
• Strong analytical skills for market analysis and financial modeling.

Responsibilities

• Conduct detailed commercial market analysis focusing on tenant demand.
• Coordinate with architects to optimize designs for commercial tenants.
• Monitor and control capital expenditure budgets rigorously.

Skills

Valuation & Modeling

Commercial Negotiation

Risk Management

Process Management

Education

Bachelor's degree in Real Estate, Finance, Construction Management, Quantity Surveying, or related Engineering field

Master's or relevant certification (e.g., PMP)

Job description

Graduate Development Manager: Commercial Property Development

1. Responsibilities: Project Initiation & Commercial Feasibility

This phase is highly focused on tenant demand and optimizing the asset's commercial value.

• Commercial Market Analysis: Conduct detailed research on market rents, vacancy rates, tenant demand trends (e.g., hybrid working needs for office space), and competitor pricing for commercial assets.

• Financial & Investment Modeling: Develop and maintain detailed Discounted Cash Flow (DCF) models and investment appraisals to determine the Net Present Value (NPV) and Internal Rate of Return (IRR). Focus on modeling future rent assumptions and vacancy risk.

• Site Due Diligence: Coordinate specialized commercial due diligence, including traffic studies, accessibility reviews, and initial environmental assessments critical for commercial zoning.

2. Responsibilities: Design, Leasing Interface, & Approvals

The junior manager acts as the bridge between the design team and the commercial/leasing team.

• Design Optimization for Tenancy: Coordinate with architects to ensure designs maximize Net Leasable Area (NLA) efficiency and meet the operational and aesthetic requirements of prospective commercial tenants.

• Leasing Team Support: Provide the leasing and sales teams with updated project information, floor plans, specifications, and progress reports required for tenant negotiations and pre-leasing efforts.

• Regulatory Compliance: Manage the preparation and submission of zoning applications, ensuring the proposed commercial use aligns with local master plans and parking requirements.

3. Responsibilities: Procurement & Capital Management

Managing project costs against projected commercial returns is paramount.

• Capital Budget Management: Monitor and rigorously control the capital expenditure (CAPEX) budget. Track soft costs (fees, permits) and hard costs (construction) against the approved development budget.

• Lender/Investor Reporting: Prepare monthly or quarterly project reports for capital partners, banks, and investors, focusing on financial variances, forecast completion dates, and key leasing milestones.

• Contract Management: Assist in procuring and managing consultancy and construction contracts (often utilizing industry standards like FIDIC or JCT), focusing on clear scope definition and risk allocation.

4. Responsibilities: Construction, Fit-out, & Handover

This stage involves accommodating specific tenant needs and ensuring building systems are robust for commercial use.

• Construction Monitoring: Work closely with the Construction Project Manager to monitor site progress, schedule adherence, and quality control, ensuring minimal disruption to surrounding commercial activities

• Tenant Fit-out Coordination: Manage the interface between the base building construction and incoming tenant fit-outs (Tenant Improvements or TIs). Ensure TIs meet building standards and are coordinated to align with the base building completion.

• Commissioning & Operations Readiness: Ensure all building systems (HVAC, fire, security) are properly commissioned and ready for commercial operation before tenant occupancy.

Requirements & Key Skills (Commercial Focus)

Bachelor's degree in Real Estate, Finance, Construction Management, Quantity Surveying, or related Engineering field. A Master's or relevant certification (e.g., PMP) is a strong plus.

Core Competencies (Prioritized for Commercial)

1. Valuation & Modeling: The ability to move beyond simple construction budgeting to perform sophisticated real estate valuation and residual land value calculations, heavily relying on rental assumptions.

2. Commercial Negotiation: Strong ability to interact with leasing agents, potential tenants, and legal teams regarding lease conditions and building specifications.

3. Risk Management: A clear understanding of the commercial risks inherent in development (e.g., pre-leasing requirements, anchor tenant commitment, market oversupply).

4. Process Management: Excellent organizational skills to manage the complex, multi-layered regulatory and design approval processes typical of larger commercial projects.