Director – Commercial Real Estate Delivery Lead

Shape the Future with the National Wealth Fund

At the National Wealth Fund, our mission is to swiftly and effectively mobilise trusted sector insights and investment expertise to unlock billions in private finance for projects across the United Kingdom. Providing £27.8bn of capital and an expanded mandate, we are ready to help the market invest with confidence, continue to drive forward the Government's growth ambitions.

We are looking for skilled and results oriented individuals who are motivated to help us build the National Wealth Fund into an industry-leading institution.

Job Purpose

The National Wealth Fund has a strategic mission to support net zero transition and drive local and regional economic growth. It’s £28bn capital is deployed through its Investment and Advisory (I&A) team, which includes sector-focused private investment and the Regional Project Accelerator (RPA) functions.

The RPA function supports local government to successfully implement technically complex, innovative and essential infrastructure financing with an ambitious aim to accelerate and improve how public infrastructure is delivered. Within the RPA function, Directors work seamlessly across advisory and lending, which has £4bn of lending capacity, including close working with the private investment sector teams in the wider I&A team to deliver commercial opportunities through our Strategic Partnerships (SPs) with Mayoral Strategic Authorities (MSAs), City Regions and other local authorities undertaking Regionally Significant Projects (RSPs). Specific sector areas of focus for local authorities are building decarbonisation and heat networks (net zero), transport and place-based infrastructure & regeneration.

Location: Hybrid working with a minimum of 3 days per week in the Leeds office

Deadline to Apply: 26th August 2026. Early submission is encouraged, and applications will be reviewed on an ongoing basis.

The Director role in Investment and Advisory requires a senior commercial property development specialist, bringing deep developer-side experience of delivering commercial real estate and regeneration projects from inception through planning, design development, procurement, construction and completion. The role requires a practical understanding of how commercial property schemes are originated, structured, de-risked and delivered, including the planning, technical, cost, programme, leasing, valuation and market factors that determine whether a project is genuinely deliverable.

The Director will lead advisory and lending engagements, working with colleagues and partners to identify and develop investable propositions for the National Wealth Fund, lead due diligence on commercial property schemes, provide robust commercial challenge and help build internal capability in commercial real estate lending, regional regeneration and place-based investment.

Core Responsibilities:

• Identify and develop investable propositions: Work with local authorities, developers, investors and internal teams to build a pipeline of engagements aligned with the Fund’s mandate, and advise on and shape commercially sustainable propositions capable of progressing through investment governance.

• Challenge development assumptions: Review development appraisals, delivery programmes, cost plans, leasing assumptions, exit strategies and sensitivity analysis to identify weaknesses, mitigants and areas requiring further investigation

• Lead commercial property due diligence: Coordinate and challenge due diligence on loans funding commercial property / regeneration schemes, including valuation, planning, technical, cost, legal, environmental and commercial adviser outputs.

• Represent the Fund externally: Engage credibly with developers, local authorities, investors, advisers, contractors and senior public-sector stakeholders, using market relationships to generate insight and future opportunities

• Advise senior decision-makers: Translate complex commercial property issues into clear judgements, risks, mitigants and recommendations for Boards, Investment Committees and senior executive stakeholders.

• Build internal capability: Coach colleagues, shape due diligence standards and support the development of good practice in

Knowledge, Skills & Experience

• MRICS or equivalent senior professional experience in commercial real estate development.

• Significant developer-side experience delivering commercial real estate projects, ideally including regional, place-based regeneration schemes.

• Proven track record across the full development lifecycle, including project inception, feasibility, planning, design development, procurement, construction delivery and completion.

• Strong understanding of commercial property markets, development viability, valuation, leasing assumptions, construction costs, programme risk and exit strategies.

• Experience leading or coordinating due diligence on commercial property transactions, including review of valuation, technical, planning, cost, legal, environmental and commercial adviser outputs.

• Ability to review development appraisals and financial models, identify key assumptions, test sensitivities and highlight weaknesses or areas requiring further investigation.

• Experience working with local authorities, public-sector partners, developers, investors, advisers and contractors on complex place-based regeneration projects.

• Confident communicator with experience presenting to Boards, Investment Committees or senior executive stakeholders.

• Strong leadership and coaching skills, with the ability to develop colleagues and build institutional capability in commercial property due diligence and delivery risk assessment.

A career with us offers a unique opportunity to make a lasting impact and work on cutting-edge technologies that will drive the UK’s future. We value diversity in our people and inclusion is at the heart of what we do.

We offer competitive benefits and unique learning opportunities from combining both private and public sector skills and experience. Please note, referencing and background checks are carried out for all roles here at the National Wealth Fund.