Name: Joe Binns
Job title: Head of investment, Stanhope
What I do: As head of new business, I focus on finding and executing property transactions, particularly in the City of London. Since joining Stanhope five years ago, I’ve led on various office and life science deals, from Chiswick to the City of London and Cambridge.
Why I got into the property industry: I’ve always been surrounded by the property industry – it’s a story as old as time in our sector. My father is a chartered surveyor, albeit in quite a different market back home in Yorkshire. Inevitably you start talking to your parents about what they do when you’re a teenager, and that sparked my interest. My work experience placements at school were always within the real estate sector and this really marked the start of my career in the industry. I just love the people and the variety.
How I did it: I started out on a two-year graduate scheme with BNP Paribas Real Estate, rotating through both valuation and investment departments, which gave me a fantastic understanding of the drivers of value and how investors analyse deals. I then spent a year post-qualifying as a chartered surveyor at BNP Paribas Real Estate, where I worked on the acquisition and disposal of office investments for domestic and international clients. Here, I was involved in transactions for a wide range of entities, from private investors to institutional funds.
I then joined a niche asset and development manager called Alchemy where I worked with clients across the corporate, planning and development, leasing, financial services and investment sectors. This was a fantastic learning experience in a very supportive environment, where my professional progression really moved forward. Five years ago I moved to Stanhope as a property executive and have since gone on to become new business director and now head of new business, leading a team which focuses on the origination of all our new projects.
My first proper job: Growing up, my summers were spent working in a direct mailing factory owned by my friend’s father. It consisted of long, hard days spent loading envelopes and brochures onto a machine in a warehouse in Bradford and it definitely taught me a thing or two about hard work!
My first big break: I feel fortunate to have had a few lucky breaks, my first being part of the investment team at BNP Paribas which was a fantastic opportunity and ignited my passion for the market side of the job. It was a great team headed by Richard Garside and I learned a lot very quickly with a group of individuals who really invested in my professional development. Then David Hughes and Guy Bishop at Alchemy took a big leap of faith with me and gave me my first step into the client-facing world, and for that I will be forever grateful.
The biggest challenge I’ve encountered to date: In a professional sense, the London office market of the past 24 months has been a real eye opener. The extent of my career to date had been in a rising market with cheap money and a lot of liquidity. You can get lulled into a false sense of security that this will last forever and the past two years have taught us that it doesn’t. In a transactional role you have to keep getting up and dusting yourself down again – you need to be resilient.
My greatest achievement/proudest moment to date: In a work capacity, I was very proud to buy 70 Gracechurch Street on behalf of the Ontario Teachers’ Pension Plan and Stanhope. I’m so excited to see that become one of the best towers in London when it is delivered.
Where I’d like to be in five years’ time career-wise: I have big ambitions to help grow Stanhope and move us as a business into the next phase of our existence. We have an amazing track record and pipeline of projects, but like every business we are going through a period of change and evolution, and I hope to be a part of making that a great success.
My advice for someone just starting out: Try to get in the office as regularly as possible. Open your ears, meet people and ask questions. It is a relationship industry in all aspects, and you simply cannot succeed in it while sitting behind a desk.
