What do they do?
What are the core responsibilities of the Leasing Department?
The entirety of the H&M UK and Ireland estate is leasehold and it is the Leasing Department who are responsible for negotiating with Landlord’s to deliver the best possible lease terms (for both H&M and New Brands) on existing and new locations within the UK and Ireland.
Within the Leasing Department, strategic planning of estate matters across the store portfolio is paramount in delivering value for the H&M Group. Working alongside our colleagues in the Expansion Department we create detailed and robust business cases for all the strategic decisions, including portfolio optimisation and right sizing of stores, and present these to the board for approval.
“The primary function of the Leasing Department is to constantly improve the lease terms of the H&M Group by employing our cost conscious entrepreneurial spirit in our negotiations with Landlords. In order to achieve this, we need to be straightforward in our approach and keep an open mind. This is only possible through working together as one team and believing in one another, and is evident in the market-leading occupational terms the Leasing Department are securing currently.” says Lloyd Goldby, Head of Leasing H&M UK & IE
How does the Leasing Department operate?
Under the leadership of the Head of Leasing, the UK and Ireland is geographically divided into regions and each region is assigned to a Leasing Manager who is responsible for acquisitions, disposals, renewals, renegotiations and refits of stores within that area.
Rent reviews across the estate are one of the responsibilities of the Estate Manager who works alongside the Leasing Managers and the Expansion Controller to comprise the Leasing Department.
The Leasing Department operates daily with the wider Expansion Department of Store Development and Construction in producing business cases and ascertaining their commercial viability. Once a credible business case is produced it is presented to the UK and Ireland leadership team for approval and, if successful, put forward for global board approval.
How many people work in the Leasing Department?
The Leasing Department is made up of 11 colleagues comprising Head of Leasing, 8 Leasing Managers, Estates Manager and the Expansion Controller.
What skills and experiences are required to join the Leasing Department?
Strong commercial awareness and negotiating skills combined with an analytical eye, an entrepreneurial spirit and great leadership form the cornerstone of the Leasing Department. Currently there are a number of qualified Chartered Surveyors in the department but this is by no means a requirement.
“For me leadership is primarily about trust, vision and actions. In order to drive goals forward there needs to be a clear vision that forms the basis of our actions. Communicating this to colleagues in an inspiring way builds on the trust necessary to realize the vision and achieve our goals” adds Lloyd Goldby.
What is the most rewarding thing about working in the Leasing Department?
The Leasing Department is uniquely positioned within H&M to see a project from conception to completion. The sense of achievement from a new store opening or securing store profitability through efficacious negotiation is the most rewarding aspect of working in the department.