From town to country: private property acquisitions for high-net-worth individuals
Welcome to our October newsletter. This month, we meet William Marriott, a private property specialist and partner at international law firm Charles Russell Speechlys.
We find out what makes William tick, both personally and professionally, from the challenges that come with intricate legal property transactions to dealing with clients looking for their dream country house and managing a team across the firm's three UK offices.
While he admits to not being an early morning person, William shares how he starts his working day, as well as advice on achieving success in his field, why you shouldn't rush gaining experience and his aspiration to one day buy a family home with a stunning sea view.
Best wishes,
Justin Mason
020 3409 0894
justin@justinmasonvaluation.com
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From town to country: private property acquisitions for high-net-worth individuals
Please can you share a bit about your background and how you got started in residential property law?
My first job as a newly qualified lawyer was working with property and private clients for a boutique firm in Surrey. My responsibilities were to keep the property side going, but to develop the private client team. I did this for about eight years and grew it to three or four times its size.
In 2013, I got a call from what was then Charles Russell (now Charles Russell Speechlys) to see if I would be happy to work on their property team – and the rest is history.
What attracted you to Charles Russell Speechlys?
It was a big decision, because I was going from being a large fish in a small pond at my boutique firm to a much smaller fish in a much larger pond. The need to specialise was a fairly key driver for me and, if I was going to work in property for the rest of my career, I wanted the best clients and most interesting contracts I could get.
Which areas of residential property do you specialise in?
My specialism is country houses, mainly in the home counties and south of England, but also across the UK. My sweet spot is large houses that are key agricultural or land-and-estate-type sizes with cottages on the estate. The team deal with everything from prime central London through to lease enfranchisement, lease extension, land and estates, agricultural, equine, private banks and property management for ultra-high-net-worth and high-net-worth individuals internationally and in the UK, so we cover a broad range of property work.
Is there much variation in the type of country houses you deal with?
There is a huge range. We might be dealing with a developer on Wentworth buying several plots and needing help with construction contracts and employment issues. Right through to the wonderful old houses that haven’t changed hands for 50 years and all of the issues that raises. You name it, it can be thrown at us.
Can you describe a typical working day?
I usually try to start as early as I can, but that varies depending on whether I can get out of bed and what my children are doing!
Broadly speaking, my day involves going through emails and making sure that we are dealing with things in the correct order. We have a team meeting every morning; it is nice to come together as a team and feel like we are one unit. My day is then typically interspersed with phone calls, emails, internal and external meetings, new clients calling and general advice.
What is the biggest lesson you have learned since entering your profession?
It sounds rather trite, but you can’t rush experience. You learn from supervisors by hearing how they deal with client issues, how they advise and how they put arguments together from a lawyer's perspective. Experience comes from a mix of not just getting it right all the time, but sometimes getting it wrong.
In your experience, what is the attitude to central London property at the moment?
The drop in international buyers has certainly caused demand to fall, but we have got a lot of work in central London, so clearly people are buying.
Despite the pandemic, if you have got the right property in the right location and it has features that are attractive to buyers – outside space, south-facing, parking etc – then it’s almost certainly a great market for those properties.
Can you pinpoint one project that’s been particularly rewarding or interesting?
The best projects are the ones that have been collaborative and have involved a team of us across the business. We worked on a large transaction that covered advice on both UK and international tax structuring, employment, corporate, tax, planning, and property – being in a firm that can deliver all that for a client is a pretty special thing.
Is there a particular quote that inspires you?
“It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly...” – Theodore Roosevelt
If you could invite three people to dinner, dead or alive, who would you choose?
Barack Obama because he would have some serious stories to tell, Billy Connolly because he would make me laugh and maybe somebody like AA Gill.
Can you recommend a book and a podcast?
I have read some really good books fairly recently, including The Salt Path by Raynor Winn and The Consequences of Love by Gavanndra Hodge. On long journeys, my wife and I listen to podcasts. I heard a great one by the Crypto Queen, which was about investing in cryptocurrency.
Do you have a favourite place in London?
I like Gray’s Inn because it is steeped in legal history, but I am slightly biased because my wedding reception was there!
Do you have a favourite architectural style of building that you love to visit?
Classic buildings like St Paul's Cathedral are just wonderful to look at. I also enjoy the contrast of old and new in city centres; comparing The Shard to St Paul's or the Walkie Talkie building across the river.
If you were given between £3 and £15 million to spend on a residential property, what would you spend it on, where and why?
In the UK, I would buy somewhere in the West Country; a stone farmhouse with land and uninterrupted views of the sea. I would also buy a villa on a Greek island – living by the sea is a reoccurring theme.
For a full copy of the interview, please get in touch with Justin - justin@justinmasonvaluation.com
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