In conversation with | Charlie Walsh, Global Head of Residential, Maybourne

‍You’ve spent much of your career immersed in some of the world’s most exceptional homes and hotels. Has that shaped your own idea of what makes somewhere truly special?

I’ve been extremely fortunate throughout my 20+ year career in property to see inside some of extraordinary homes and hotels. For me what makes a home special are the small touches, which almost go unnoticed, but to the discerning eye make all the difference. I have a number of UHNW clients of all different nationalities and ages, with a varied portfolio of homes globally. Each one is different in their tastes, wants and needs; but probably the most consistent thread that runs through all of them is service and attention to detail, but also crucially making sure each of their homes is just that….a home and not a hotel room!

When you travel personally, what are the details you notice first in a hotel or residence? Can you ever truly switch off that professional eye?

I used to live with three medics at university, so watching ER or Casualty was somewhat ruined. I suppose the same can be said when I stay in hotels or visit residences. I’ve definitely become more OCD and spot everything, from pictures not hanging straight to doors not closing properly. It’s really quite tiring! However, above all that, the very first thing I notice in a hotel or residence is how you’re welcomed and greeted. That, in my mind, sets the stage for the rest of the visit or trip.

Your role is inherently international and fast paced. When you step away from work, what helps you switch off and reset?

I’m an avid walker and am lucky enough to live in a beautiful part of the countryside. Walking is my switch-off time. I’m also one of those strange people who are addicted to cold-water swimming. I can’t help it; I see a loch, lake, sea… whatever it might be, and all I can think about is jumping in. It’s a great mental reset!

For an increasingly global buyer, what creates a genuine emotional connection to a home?

For my clients I’ve worked with to date, the emotional connection is without a doubt a human one. The people who look after and interact with these owners and buyers, they are the ones who make the emotional connection. I’ve seen clients only wanting to buy in a certain development /apartment block because of the GM or even the door staff. I’ve also worked with some of the very best in the industry who intuitively know and can anticipate their resident’s mindset, and that connection takes real skill.

You’ve spoken previously about understanding the mindset of the high-net-worth customer. What do you think developers and designers still sometimes misunderstand about this audience?

I think some developers look at this cohort of HNWs and think that because of their wealth they can take them for a ride on service charge or amenities. Developers can’t just produce a tick box exercise of delivering world-class amenities and think that’s it. Without the right people delivering these services, you can have the best building in the world, but it is run poorly. My experience of HNW clients, is they are more than willing to pay for it, providing they get the service.

Branded residences have moved from being a relatively niche proposition to an increasingly significant part of the global luxury property market. What do you think is driving that growth?

The branded residences sector has seen an explosion of growth over the past decade, and I think theCovid-19 pandemic has accelerated this significantly. Being locked down, many of my clients lost something incredibly valuable: time. Time they can’t get back. As a result, going forward, they want to make sure the time they have remaining is spent in the very best way, with the very best experiences.

In its latest residential report, Knight Frank reported that average home ownership among UHNWs has grown from 2.9 properties a decade ago to 3.8 today. I’d say the average number of homes owned by my clients is more likely to be around five.

To this end, UHNWs and HNWs increasingly don’t want the hassle of running their own homes, where they have to worry about staff, security and maintenance. Branded residences take all of that worry away and, moreover, provide the peace of mind that exceptional service levels are available at owners’ fingertips.

As more brands enter the sector, is there a danger that ‘branded residence’ becomes too broad a term? What separates a genuinely exceptional branded residence from a development that simply carries a prestigious name?

There is definitely a concern about saturation, especially with non-hospitality brands, where owners have to really question “What does this brand know about running a building and welcoming guests and residents”. As we see more entrants into the market, so too will we see the ever more discerning buyer.

How important is authenticity between brand and place? Should a branded residence feel immediately recognisable as belonging to a particular brand, or should its location ultimately dictate its character?

There are two sides to this argument. Some buyers love the familiarity of walking into one brand anywhere globally and it is instantly recognisable; whilst other brands very much respect the authenticity of the geography they’re operating and developing in. Neither is right or wrong, but the consistency here must be the experience and service level expected.

Maybourne has such a distinctive heritage in hospitality. As it grows its residential offering, how do you translate that sense of service and discretion into someone’s home without making it feel like an extension of a hotel?

It’s absolutely critical that our offering / design and experience has all the heritage and DNA of our extraordinary hotels, but with the nuanced touch of our residents being our long terms guests.

It’s a subtle difference, whilst our hotel guests will always be core and central to our business, our residents are like an extension of the Maybourne family. The beauty of looking after our residents, is that we can get to know them in far greater depth, and as such we’re able to tailor our well-trodden approach to guests to make sure every experience and story we create for our residents is truly unique.

‍How do you see the UK branded-residential market today compared with more established or rapidly growing international markets? Where do you feel London sits within that global landscape?

I see London as an extremely mature property market, and as such I think our domestic buyer approach to branded residences is somewhat muted compared to the international demand. If you compare for example the number of people living in branded residences in Dubai as a proportion to the total housing stock versus London, it would be significantly higher. The planning system and lack of land supply in London versus say Dubai immediately has a choke-hold on our ability to develop out more branded residences, but in a deeper way I think there is a huge difference culturally between London and say Dubai in terms of our approach to living in such a residence.

Looking globally, which markets do you believe will define the next chapter of branded residential growth, and are there any emerging destinations that particularly excite you?

I think city centre growth of branded residences will at some point hit saturation point, whereas lifestyle and resort destinations will continue to play catch up, and there are still plenty of undiscovered locations which will be ripe for these stunning developments. The wellness and health offerings at these residences will continue to play a major part. Anyone who thinks health and wellness is a fad, is sorely mistaken. It’s absolutely here to stay, and this is why it forms a key pillar in all that we do at Maybourne.

As the lines between hospitality and residential design continue to blur, what lessons do you think each can learn from the other?

There is plenty of crossover between hospitality and residential. Last year we had well over 100,000 guests staying at Claridges, this absolutely informs how we approach the design of our residences, whether this is smart home technology through to installing smart WCs. Equally on the residential side our hospitality teams increasingly see how our residents ‘live’ and what common habits / rituals they have. I’ve stayed in many hotel rooms which are spartan and lacking any warmth versus the interior décor of say an Oliver Burns residence where you can clearly see the layering and accessories, which may seem minor but always make a huge difference to the overall experience and enjoyment of a space.

CHARLIE WALSH | MAYBOURNE

W: Maybourne

IG: @houseofmaybourne