A&H Magazine Q2 2023

Q2 2203

What's Inside Unreservedly Andy - Ask me Anything |  Pages 5-8 The Digitalisation of Currency |  Page 9 and 10 TRENDS in 2023 - 5 ideas that could change our world|  Page 11-12 Spain History -Legacy of the Roman Empire |  Pages 15-16 MEGA Yacht - Giorgio Armani's Luxurious Appointment |  Page 17-18 The World of Art - Vermeer |  Pages 19-20 Black Gold - Investing in Caviar |  Pages 21-22 The Path Toward Wealth |  Pages 23-24 Interesting People - Simon Baldwin-Purry |  Pages 25-28 Invest in You - Unwind at the Spa | Pages 29-30 Coffee Break Whimsical - The Life of an Olive Tree |  Pages 31-32 Beautiful Bulgaria | Pages 33-34 Coronation of a King |  Pages 35-36 Investing in UK Property - Andrew Davies of API Global |  Pages 37-38 Invest in Design - Top Spanish Interior Designers |  Pages 39-40 Property for Income - UK HMO Investing |  Pages 41-42

Disclaimer: Please read The information contained herein is proprietary to Private Client Consultancy and/or its contents providers. The information or any part thereof may not be copied, produced, or redistributed without the express permission of the CEO of Private Client Consultancy. We do not guarantee the reliability or completeness of any information provided. However, the content has been collated from what we view as reliable sources at the date of publication. The contents of this publication do not provide any financial, investment, or professional advice, nor are they intended to. The pages of this magazine shall not in any way be regarded as an offer or provision of financial, investment, or professional advice. Private Client Consultancy, its directors, officers, managers, employees, agents, affiliates, and/or subsidiaries accept no responsibility nor liability for any errors, omissions, inaccuracies (including those caused by a third party), loss or risk (personal or otherwise) which is incurred as a consequence, directly or indirectly, of the use of any information contained in this publication. Design, Editing, Production, Publication. Creation, and Layout by Head of Marketing, Tracey Brady Private Client Consultancy A&H Magazine is published by Private Client Consultancy. This publication may not in whole or part be lent, copied, photocopied, reproduced, translated, or reduced to any electronic medium or machine-readable form without the express written permission of the publisher. Page 3 Private Client Consultancy

The magazine may include facts, opinions, views, and recommendations of individuals and organisations deemed of interest. Private Client Consultancy does not guarantee the accuracy, completeness, or otherwise endorse these views, opinions, or recommendations. Readers are responsible for their own investment decisions, and we would advise that they speak to their professional advisers prior to making these decisions. This material is for information purposes only and does not contain (and should not be construed as containing) investment advice or an investment recommendation, or an offer of or solicitation for a transaction in any financial instrument. Always seek professional financial advice before investing. The information provided and contained in this magazine are believed to be reliable but are subject to change without notice. Private Client Consultancy makes no representation as to the completeness or accuracy of the information or of any opinions expressed. A&H Magazine/ Q1, 2022 www.pccwealth.com Private Client Consultancy Page 4

UNRESERVEDLY AMAAndy -Rethinking the World- \"Ask me Anything\" (AMA) questions are a great way to create a fun, meaningful, and engaging connection for our reader. And in this edition of 'Unreservedly Andy' we presented CEO, Andy Oliver, with ten opinion based questions. We're sure you'll enjoy reading what he had to say. 1 Can the Euro survive? I think it has to survive now after almost 25 There was a point after the 2008 economic years of existence. It was first launched on 1 meltdown that it looked in real danger, Jan 1999 as an invisible currency and then especially when Greece was teetering on the notes and coins followed later on Jan 1st verge of bankruptcy, with Spain, Portugal, and 2002. Ireland not far behind. The saving grace for the Euro was Mario Draghi and his “whatever it I think a lot of people doubted it in the takes” statement to the world. Without that beginning although everyone understood the statement of intent, I do think that the EU and intention behind it which was to make cross the Euro as a currency would now be a very border trade within the EU a smoother and different beast. simpler process. Page 5 Private Client Consultancy

2 Will inflation subside? Yes! And for several reasons. Thirdly, the interest rate rises we have all seen have squeezed spending by consumers, which Prices can't just keep rising and outstrip wage naturally then force manufacturers and service inflation – at some point the fundamental laws of providers to reduce prices so that people can economics kick in and people have to make choices afford to buy. about what to spend money on, and prices naturally subside. The second reason is that the lack of The only real positive about inflation is that for inventory in the supply chain caused by COVID 19, those of us who have debt, debt also gets inflated which in turn triggered inflation, is almost out of away. the system now, and that should bring supply in line with demand. 3 What are your thoughts on Charles as the new King of England? I personally think Charles will make a very good King. He has had to wait a heck of a long time to become King and deserves his chance. I once met him a long time ago, in the mid 90’s. He was attending a military function with the then Prince Henri of Luxembourg. He had a wicked sense of humour, and the half an hour or so that I chatted with him was hilarious. He also deeply cares and has championed numerous social causes on the environment, architecture, healthcare, and community issues, as well as establishing numerous charities. Notwithstanding, it will be interesting to see how he deals with the role of the monarchy in this modern-day era. Whilst Queen Elizabeth remained discreet on certain topics so that neutrality in politics was maintained, I suspect that his more vocal style may cause some waves from time to time and draw criticism from certain quarters; although let’s face it, he can be no more politically incorrect than his late father. 4 Do you have a favourite My favourite art forms are bronze statues, and artist or particular style of art? also black and white photographs of interesting people. So now I have to pretend that I’m 'cultural.' One such photographer is the late Jaime Mota I appreciate art for itself and am slightly old who has his gallery, now run by his son, in fashioned in my outlook. I can’t get my head Mijas Pueblo, Mijas Costa, Spain. His images of around the type of art where someone paints a native Africans, are stunning. black dot on a canvas and it’s then worth millions – perhaps I am missing something! I do appreciate some of the old masters, Van Gogh for example. And from the modern era I really like Banksy and what he's created. How hip do I sound? Private Client Consultancy Page 6

5 Do you think the European Union has been a success? Great question! It has done lots of good things. My dear Mum would bemoan that the It is still young, and it is worth noting It has redistributed wealth to the man from Brussels banned irons that that the last people who tried to unite traditionally poorer countries. were too hot, bananas that were too Europe were the Romans, and they failed It has improved education standards. curvy, and destroyed an imperial - even after a few hundred years. It has achieved 70 years of peace and system of, lbs. and ounces - meaning stability (longest ever). her cookery books and measuring jugs Just like the John Cleese sketch in the It has created a more dynamic became obsolete very quickly. Life of Brian where the questions were marketplace. “What have the Romans ever done for us?” It provides uniform telecommunication However, we still need to ask the The responses tripped off the tongues of services across the EU. question. the other actors “Schools” “Roads”, It has created centres of excellence and “Sanitation”, “Healthcare”, followed by funded research. What has the EU done for us? Apart John Cleese sarcastically rolling his eyes It has improved Health and Safety. from all of the above – it's not perfect, and replying. “Apart from schools, roads, It has ensured that the EU takes climate but it’s a far better place now than sanitation, and healthcare, what have the change seriously. how they found it! Romans ever done for us?” It created a single currency designed to remove economic risk to businesses. I think it's worth asking the same of the And it has introduced employment rights EU! to protect the most vulnerable. 6 What are your thoughts on the mandatory ETIAS. The infamous ETIAS which is the equivalent of the US ESTA and is essentially a pre-screening of people not from the EU to travel freely in the Schengen area. Now delayed to 2024 before it comes into effect. It will probably feel like a pain and bothersome to apply but will save people a lot of time once they get to the EU. It lasts for 3 years so a smooth on-line application system once every 3 years is probably not too much to ask. As always, there will be some confusion and some coffee shop rumours flying about, but the rules are quite clear, and it is worth noting that ALL British Nationals will require the ETIAS to travel where they don’t have a Visa requirement. 7 Defensive planning – why is it so important? This is quite close to my heart on the basis that if **** can Their total income was modest and their total family living happen, it probably will at some point. Life throws us nasty expenses were big. He wanted to save for his pension – I surprises at times that come with nasty consequences. We wanted him to protect his life and health, because if he died or insure our cars, we insure our homes, however we less so, couldn’t work that family with those four young children were insure our health, and even less … our lives. royally up the creek without a paddle. Peter was in his early thirties, I visited him at his home on several occasions and As a young financial adviser, I was taught the mnemonic PPSI eventually persuaded him to take out life insurance for a little - Protection, Pension, Saving, Investment. And that was the over 500,000 GBP. He still thought it a waste of money guidance I was given for the order in which to deal with muttering under his breath that it was even more financial issues for clients. I remember a client who was an IT person stress and that he was \"quite bullish” about not dying. at Invesco Perpetual and lived in Henley-on-Thames, who I shall call Peter. Peter was married to Jane, and they had four That summer the family went to Scotland on a camping trip. young children, ranging from a few months to nine years old. Richard was cycling; a lorry didn’t see him and there was a Peter was interested in saving a modest amount into his collision. Richard died that same day. I attended his funeral, pension, but had earmarked to spend all of his spare cash on and Jane gave me the biggest hug. Through her tears she a conservatory - as they needed more space for toys and kids' thanked me. stuff. Jane (at the time) was a childminder. Suffice to say, their children went on to experience a decent Page 7 Private Client Consultancy upbringing. And Jane didn’t have to face the otherwise difficult choices she may have if Peter hadn't gone ahead with the insurance.

8 Share 2 tips for the “youngsters” who aspire to make it big. Easy! Work hard. Genius is 1% inspiration and 99% perspiration. Do what you love, not what you feel others think you should be doing. Chances are you will be good at what you enjoy and if you’re good at something, chances are you’ll be successful at it. 9 Do you think Artificial Intelligence (AI) can take jobs in your industry? Our industry is all about persuading people to do the right thing with their money, to build wealth, and protect wealth and well-being. Robo-advisers are becoming more prevalent as time marches on. So, in a small way, some of the functions that humans perform will be replaced by machines. I genuinely believe though, that people amass wealth and once that wealth hits a certain number, no machine can replace the ability that is having empathy with a client's fears, hopes, concerns, and objectives. Investing and financial planning is 80% emotional with only 20% logical. Take Pete from question 7 - no machine on earth would have persuaded him to take out life Insurance! 10 If you could take on anybody to advertise your company, who would that be and why? The face of Private Client Consultancy? That needs some thinking about. Names like Jill Scott MBE, Gordon Ramsay OBE, and Jon Bon Jovi spring to mind. They’ve all achieved something special and have some extraordinary qualities. The winner for me though would be Dame Kelly Holmes – she is an extraordinary lady, who has had incredible achievements, and fought all of her life to overcome a not very advantaged background. Image: Dame Kelly Holmes Source https://memiah.co.uk/ Private Client Consultancy Page 8

The Digitalisation of Currency Money, the most important commodity in any economic system - and for better or worse, our relationship with it is changing. The way we use our finances, who we trust to look after our money, and the expectations we hold as financial consumers are all developing to form a new and distinct dynamic. One of the most noticeable transformations will be going from cash in our hand to digital money. Page 9 Private Client Consultancy

Our relationship with money is ever evolving with more digital options becoming available. These days, physical money hardly ever comes into the equation. You can make purchases with just the tap of a card or a screen or using your watch. In China, and in full swing is the facial recognition system for payments called “Smile to Pay.” It might sound a bit like something from the future, but they have been using this for several years already, and physical cash is not even accepted in some places anymore. With over 600 currencies having disappeared over the last three decades it does not seem so far-fetched to think that more will also fade away or turn digital only. The European Central Bank is still looking at the possibility of issuing a digital Euro, while the UK Government and the Bank of England have announced the exploration of a digital Pound. Although nothing has been decided yet, they believe this will likely be needed in the future. Digital money refers to electronic forms of money and payment methods. Ranging from simple online bank transfers and debit cards to the more complex area of cryptocurrencies. The trend of cashless transactions was noticeably accelerated during the pandemic. People became more aware of everything they came into contact with and the potential hazard of becoming infected with the Covid-19 virus. It was even considered that contactless payments posed less of a threat than cash. As consumers, often not seeing large proportions Where there is data, of our income as anything more than numbers on a there's money to be made. screen, we are placing increased faith in our banks while we run toward a society run by AI technology. Even so, customers still expect personalised services today, and if traditional providers don’t offer them, With most of our transactions being completed tech giants will jump in and fill the gap. electronically, a digital footprint is left behind. Private Client Consultancy Page 10 This digital trail of transactions is providing vast amounts of data about what people do with their money, thus helping to improve and recommend relevant financial products to individuals.

TRENDS 2023 that could change our world Technology is ever evolving as researchers continue to think up innovative ideas and make scientific breakthroughs that will change our world. The farfetched robotics and artificial intelligence we have only seen in science fiction up until now are emerging into our reality faster than expected. With new gadgets and concepts regularly announced, it is easy to become blind to the huge technological achievements shaping this modern age. And because of this, we've compiled a guide with five interesting ideas in breakthrough technology. 1 Smart Watch Powered by Sweat A new type of flexible supercapacitor has been developed by engineers at the University of Glasgow, using human sweat instead of the electrolytes found in ordinary batteries. Meaning that smartwatch devices could soon be powered by our own sweat. The device is powered by a polyester cellulose cloth coated in a thin layer of a polymer; the wearers sweat is then absorbed through the cloth. The ions from the sweat interact with the polymer’s surface in an electrochemical reaction to generate energy. 2 AI Generated Images For better or for worse, artificial intelligence continues to expand into various human professions. The most recent on the list is art. The company Open AI have created a software called DALL·E 2. This is an AI system that generates more realistic and accurate images with 4x greater resolution. For example, you could ask the AI to create an image of a cat wearing a bowler hat and you will find unique images of just that. You can even dictate which style you want the image to be created in. Page 11 Private Client Consultancy

3 A Digital Twin that Tracks your Health QBio are an American company who have constructed a scanner that measures hundreds of biomarkers in as little as one hour. Assessing hormone levels, fat build up, inflammation and even a number of cancers. Their intention is to build a digital twin for patients that they can update with each scan to track their health development over time. CEO of QBio, Jeff Kaditz, hopes this advanced technology will lead to a new era of personalised and preventive medicine. Where doctors can prioritise patients in order of urgency and diagnose illnesses in a more refined way 4 Direct Air Capture Scientists have been on the search for ways to replicate what our trees naturally do in reducing CO2 levels. This modern technology is known as Direct Air Capture and there are already some facilities for it up and running. The procedure involves taking the carbon dioxide from the air and either using it in combination with hydrogen to produce synthetic fuels or storing it deep underground. Current facilities require a colossal amount of energy, and the technology has many complications right now. 5 Mind Reading Robots Perhaps the most impressive idea in our compilation is the evolution of brain reading technology in recent years. Researchers at the Swiss Federal Institute of Technology Lausanne have been testing one of the most practical machines so far. A computer with an incredible learning algorithm that connects with a robot arm. These researchers have created a way for tetraplegic (a term used to describe the inability to voluntarily move the upper and lower parts of the body) patients to interact with their surroundings. When being tested, the robot arm would perform simple tasks such as moving around an obstacle. Over time, using an electrode cap, the algorithm would mould to the individuals' preferences and brain signals. From this technology could come other brain-controlled assistance machines that allow patients to have more accessibility. Private Client Consultancy Page 12

The Traditional Haxey Hood Games The British tradition you’ve probably never heard of One of the oldest local traditions in Britain, dating all the way back to the 13th century, is Haxey Hood Games. Taking place annually on January 6th in Haxey, North Lincolnshire. The Hood Game is comparable to a rugby match or Tug of War, only this game has a Lord, a Fool, and some Boggins! Game day begins around noon with the Lord of the Hood and The real fun begins on Upperthorpe Hill where children his fellow Boggins touring the four local pubs where play their own hood chasing games before the main event. traditional songs are sung in each establishment. The tour The object of which is to maneuver the leather hood into ends at St Nicholas Church where the Fool does a welcoming one of the towns’ four pubs - the game will officially end speech, during which he is “smoked.” when the pub proprietor touches the hood, which is then displayed behind their bar for the rest of the year. “Smoking the Fool” now only involves some damp straw being set alight to generate a small amount of smoke. A very The Lord acts as a type of referee, and with the help from watered-down version of the prior custom from many years his eleven Boggins they keep the game safe. That's ago that involved dangling the Fool over a bonfire. The generally because the game includes a rugby style adjustment was made after an unfortunate incident where scrummage where the hood is pushed or pulled into the someone forgot to first dampen the straw. desired direction, similar to that seen during a tug of war. The Fool finishes his speech with a short saying to motivate the town, that in modern English translates to ‘House against House, Town against Town, if you meet a man, knock him down, but don’t hurt him.’ Page 13 Private Client Consultancy

The 'official' origin story goes - that in the 14th century, Lady de Mowbray, wife of John De Mowbray, was riding out to Westwoodside on the hill that separates it from Haxley. As she went over the hill, her silk scarf came off in the wind. Legend has it, there were 13 farm workers who rushed to help and chased the hood across the field. The hood was finally caught by one of the farmers, but being too shy to hand it back, gave it to another farmer who handed it over. Lady de Mowbray was so amused by this perceived act of chivalry, that she donated 13 acres of land on the condition that every year, the chase for the hood would be re-enacted. Over the centuries this became known as 'The Haxey Hood'. The tradition is still practiced in many towns across the county, including events at Woolsthorpe Manor in Woolsthorpe by Colsterworth near Grantham. 700 years of tradition Private Client Consultancy Page 14

Around Europe Spa in History Romanalegacy of the Empire The Roman Empire left their mark in numerous Mediterranean countries with traces of their ancient architecture still standing across several cities to this day. Some breath-taking examples of their buildings include the Colosseum in Rome, the Tower of Hercules, and the Ampitheatre of Nîmes. The Romans conquered the Iberian Peninsula, naming it Hispania, where their rein lasted two centuries. They came to the peninsula for three main reasons. To aid their geographical goal to conquer the whole of Europe, to have control of the western Mediterranean, and to take advantage of the wealth generated by mines in form of gold and silver, as well as to restock on oil and wine. Spain is not short of its own Roman ruins with structures ranging from theatres to walls to bridges. In its near original condition, the Aqueduct in Segovia commonly known in Spain as El Puente, meaning “the bridge,” was constructed for the purpose to fulfil a need of water. It is now the reason many tourists travel to Segovia, so that they may take in this wonder with their own eyes. Page 15 Private Client Consultancy

B Incredibly, the entire structure was built from around uilt under the rein of Roman emperor Trajan, the almost 24,000 granite blocks without the use of mortar. The 167 2,000-year-old bridge carried water from the Río Frío into stone arches are held together by a perfect balance of the city of Segovia, just over a 9-mile journey. The forces, such inconceivable engineering that would be aqueduct is up there as one of the best-preserved Roman extremely difficult to recreate now. Especially as the two- engineering works. tier structure is a staggering 728 metres long containing some arches that are 9 metres high. However, as to be expected, the bridge is no longer in use as the granite began to decay by the mid 19th century. But, Some Segovian’s call the aqueduct “Devil’s Bridge” as they it did manage to stay in use up until only 50 years ago in believe something so impossible could only have been 1973 and almost 2,000 years of service is impressive to say created by Lucifer himself. Another theory is that Hercules the least. Just that fact alone makes it one of a kind. Twelve was the one to create a structure of such mammoth years later, in 1985, the aqueduct was then added to the proportions. It must have been one of the largest in the World Heritage list. Roman era. Private Client Consultancy Page 16

A Luxuriously Appointed Mega-yacht It's Giorgio Armani's And it's 236 feet long The ship is one of two designed by none other than Giorgio Armani, developed by the Armani team in collaboration with the Admiral Style Center. While the partnership was announced two years ago, the yacht itself won’t be completed until 2024—though it does already have a buyer. Following the death of Karl Lagerfeld, Armani is now the oldest working designer in the business; some might think without equal, but not he. At sea, his personal routine remains intact: breakfast is at 7am, followed by personal training, evenings spent playing cards or in front of the television. He loved Chernobyl and The Crown, disliked Money Heist, and didn’t do Game of Thrones. Georgio Armani does 'do internet' for news and sending emails. But he much prefers notepaper and a pen. On social media he commented to an article in Vogue Magazine, \"I think this watchdog culture has gone too far, honestly. We need to be very careful and consider everything, of course, but public shaming is the opposite of progress, and I am more interested in that than anything else.” Page 17 Private Client Consultancy

Inside, Armani and his Armani Casa home- furnishings company are striving for understated luxury. Interestingly, they’re blending bold and soothing elements, along with subdued and energetic colors, to achieve this. Overall, the ambience should invite the owners (the yacht is under contract) to unwind. Naturally, Armani’s Admiral yacht design takes advantage of big panes of glass to bring the outside in. Sliding panels will let the owners change the mood and the amount of light when they wish. Armani and The Italian Sea Group may have more in the works. A statement from the founder and CEO of the group seems to indicate further hulls. “The new motoryachts, which combine technology and design with the distinctive features of Armani and its deep identity, will give us great satisfaction,” Giovanni Costantino says on the builder’s website. theitalianseagroup.com Private Client Consultancy Page 18

The World of Art Vermeer Tinhehhisipdadienntinsygsmbolism Page 19 Private Client Consultancy

For the first time ever, Vermeer's Widely known for his 1665 artwork, Girl with a Pearl paintings can be seen together in Earring, Johannes Vermeer is one of the most recognised artists in history. The Deutch painter, born in 1632, spent one exhibition at the the duration of his artistic years in his birthplace of Delft, RIJKSMUSEUM in Amsterdam. Netherlands. In the mid-17th century when Vermeer . It runs from February 10th to June resided there, the wealthy city was thriving from its 4th - sadly, but not surprising, delftware pottery factories, breweries, and tapestry weaving workshops. tickets are already sold out. In 1641, once Vermeer’s family found themselves to be adequately wealthy, they purchased a large house which also included an inn. Located on the market square, the inn was named the Mechelen. Upon his father's death eleven years later, Johannes Vermeer inherited the inn along with the art-dealing business that his father had traded in alongside working as a weaver. It is possible that his father’s art dealings had taken effect on Vermeer as by the time his father passed away, he had decided to pursue a career as a painter, although even now nobody knows how or when he gained his skillset as an artist. Displayed in some of the finest museums across the world are the surviving 35 Vermeer paintings. Artworks that are among the most beloved and cherished in all artistic history. At the beginning of his career, Vermeer’s paintings would represent biblical and mythological scenes which during the height of his career moved onto depictions of women doing everyday activities such as reading, playing musical instruments, or writing letters. Vermeer's magnificent collection holds great emotional power that results from his ability to transform a scenario from real life into a timeless expression on canvas. One of Vermeer’s classic traits throughout his work is his ability to create such realistic luminosity that it almost feels as though the light is going to burst beyond the frame. Something else Vermeer is well known for is the carefully chosen objects placed throughout his paintings. There may even be underlying symbolism hidden within these objects. Let's take Girl with a Pearl Earring as an example. This is a classic demonstration of the natural everyday beauty Vermeer captured so brilliantly. The girl in the painting is an unnamed figure dressed in a unique costume, a genre of art named tronie. When taking apart the image piece by piece we begin to find symbolism that could be missed at first glance. The girl is depicted wearing a jacket tailored from a shimmering fabric that changes colour with the light. During the era in which the painting was created, the representation of fine material in paintings was of great interest to collectors, adding value to the artwork. We also know that Vermeer used the symbolic language of art defined in the Iconology by Cesare Ripa. In this book, “painting” is represented with a silk dress of colours that change in the light, just as demonstrated in Girl with a Pearl Earring and his other masterpieces. The blue and yellow headdress portrays the character to be exotic or even ancient. And of course, the well-recognised pearl is a symbol of the girl's beauty, purity, and spirituality. In each of his paintings, time seems to stop between sunlight and silence creating a sense of calm. If you dig into what is hidden beneath the surface of his paintings, you’ll see Vermeer’s ideas, desires, and otherworldliness shine through in all of it's brilliance. Private Client Consultancy Page 20

BLACK The Global Caviar Market Size was recently estimated at USD 330.21 million and is projected to reach USD 577.01 million by 2033, exhibiting a CAGR of 8.30% during the forecast period. Caviar is indeed one of the most luxurious foods in the world. However, the term caviar does not translate simply to \"fish eggs\". Real caviar comes solely from fish of the Acipenseridae family, also known as sturgeon. The eggs are harvested from the female sturgeon before fertilisation and then cured with salt to enhance the flavor and increase the shelf- life of the finished product. This combination of unfertilized sturgeon eggs and salt is the delicacy known as caviar. Page 21 Private Client Consultancy

Gold Why is caviar so expensive? You should know that any caviar with the word \"pearl\" in the name is going to be incredibly rich and expensive. One such is the Iranian Pearl Caviar that is processed by the Caspian Fisheries and Management Authorities, who claim to have perfected the best way of crafting the highest quality caviar. Some of the cheapest tins cost around £14 - but that only gets you 10 grams which is less than a teaspoon's worth. By contrast, some of the most expensive cost around £4,800 for one kilogram. Much of the high cost is down to the fact that female sturgeon’s take a long time to reach egg- laying maturity. For The Siberian sturgeon, it takes between four and five years. The white sturgeon female doesn't start laying her eggs until she is approx.. 14 years old. Critics of sturgeon farms, such as PETA (People for the Ethical Treatment of Animals), argue that farming any fish is cruel, as it keeps them in an artificially confined space. Another reason is that the female sturgeons are generally killed before their eggs are harvested. Antique Caviar Spoon Private Client Consultancy Page 22

The Path toward Wealth With so many financial opportunities in the When playing the long game, the chances are world it often feels as though anybody could not as scarce and options such as public markets simply pick a path to go down and get rich are still the best wealth builder out there. The overnight. Week after week we see news stories truth is, that although wages have increased, the about 'some new asset' that's shot up in value cost of inflation has run parallel with, if not over a remarkably short amount of time. Or surpassing, the numbers on salaries. In this some influencer who is making millions for doing current economic climate, you can no longer 'not very much' on the social media platforms. afford to do nothing about it. Unfortunately, most of us will never come across Investing offers a way to get ahead. Meaning, you the opportunity to turn a few thousand into a need to make choices today that your future self few million in a limited time frame. But don't lose will benefit from - which is seemingly becoming faith just yet, because that does not necessarily harder for us humans to accept and put it into mean you can’t significantly grow your funds practice. over a longer period. Page 23 Private Client Consultancy

When investing, it is important to keep our Losing emotions in check. Countless people have invested in something only for the results to go That brings us swiftly on to LOSING. It's highly in the exact opposite direction to what they unlikely that there are people who enjoy the were hoping for. That's usually because it thought of losing money, therefore it is wasn't well thought out, or was impulsive. The important to learn how to deal with the downs key is to acknowledge what is in and what is as well as the ups. Losses if you allow them, will out of your control. likely shape you as an investor. All investors have lost money at some point or other but that There are three parts of expanding wealth – doesn’t mean all hope is lost and they never earning, losing, and growing. It can sometimes invest again. Protect yourself first, then build be a bit of a roller-coaster ride too. But hang in your investments slowly. there! Growing Earning It's great when you you start to see the ROI's Start with what you can control, acquire skills coming in. To grow wealth, placing your money valuable to our economy thus ensuring that in assets that appreciate in value or generate you always have work when possible. It seems cash as income, if possible both works well. pretty obvious doesn't it, but you'd be There are several ways to invest and different surprised how the notion of making money can things to invest in such as property, stocks, drive restlessness and impatience. You do not Bitcoin, art, and countless others. Diversification need to have a huge amount of money behind is key! you to get started with investing, but you do need to have some expendable cash. That's If you haven't yet - start investing! You can cash that won't destroy you if it's lost. either hop on for the ride or... you can stay right where you are and see what happens. It's always Before wealth comes work - and you will find your choice in the end. that most successful investors put in the hours to earn a living first. We are seeing the opposite of this in the young. It's an 'I want it now' world. That can be very short-lived. Private Client Consultancy Page 24

Interesting People by Tracey Brady Head of Marketing For this quarter's edition of 'Interesting People,' I enjoyed an insightful and colourful conversation with Simon Baldwin-Purry. In fact, I was very much looking forward to speaking with Simon ever since he sent me his photo (right) ahead of our planned chat. A picture paints a thousand words – or so they say. In Simon’s case it was true. And it certainly was a great start. It was, and is, a pleasure and joy listening to Simon humbly replay his life in full Technicolor - as you will soon find out. It is stories such as this (I believe) make our day seem a little bit brighter M“ y life has had some Simon, a picture in navy pinstripe, with \"I was born in 1941 - exciting moments, but its been fairly waistcoat and watchchain to boot, sat normal really, and so I find it difficult behind a desk befitting a man of his I went to boarding school at age 7 and to understand why you would want to stature. The solid wood library that public school at age 10 - (I was the hear about my life, I mean, I have been replaced the wall behind him, was to youngest boy in the school by 11 months).\" on the radio occasionally, but I haven't no surprise, adequately stocked. been asked to reappear.” \"After leaving school I was just young It had been a week of dreadfully cold enough to avoid National Service, but Simon’s life (on paper) read like the and wet weather in Spain, so we enjoyed my father took a dim view of that (being synopsis for a Hollywood script. a ‘very British’ moan about it before we an Officer and Gentleman). And so, I He laughed at the notion. began. applied to be an officer, but, after basic training, I failed the examination for Simon had seen his life as relatively “I’ve just had a visit to the dentist Mons officer training. They said I was normal in comparison. I reminded for a crown on my molar. not mature enough. And they were him that his ‘pre-interview’ notes to undoubtedly right. I was too young; me had in fact mentioned summer’s I desperately need this tooth.\" eighteen in fact.\" in St Tropez, The Rotary Club, and -he told me. the purchase of an entire 13th \"I then decided to try my hand at being a century village in France. “I like eating red meat you see, and we dress designer. My grandfather knew Sir need those big teeth. When I arrived at Edwin Hardy Amies KCVO. He was an The latter to which he replied... the dentist, I had to wait about 20 English fashion designer, founder of the minutes before I was called. She’s a Hardy Amies label and a Royal Warrant “Well, it was all satisfyingly cheap.” charming lady, and always treats me holder as designer to Queen Elizabeth extremely well, but because she is so nice II. I was duly appointed as his junior Simon threw back his shoulders in she tends to over-run her time. I thought, assistant and served a year under his laughter, and I joined him. oh, goodness, I hope I am not going to excellent tutelage along with part-time have to say I’m afraid I can’t have my attendance at St Martins College of Art The proverbial ice had been broken. It crown today. I’ve got an appointment at studying dress design.\" was at that moment it became clear this 2:00 o’clock. That appointment was our article would be a joy to write. Simon’s appointment you see. And I was \"While at St Martin’s, I initially thought idea of normal was a breath of fresh air, extremely glad the crown turned out all it was rather strange that there weren’t his recollections were humbly replayed, right in the end.” many women. But it quickly became and his presentation was perfectly and clear that I was the only male doing a quintessentially English. I was equally glad Simon had made it dress design course who wasn’t gay.\" – crown and all! Page 25 Private Client Consultancy \"It turned out that it was not my We began. thing anyway.\"

\"By golly, I went through a lot of jobs in a noticeably brief period to find something that was interesting and felt I could do.\" Itried on a lot of jobs, and even lived in Paris for 6 months. That was not a highly intelligent move for my future, but was a very enjoyable one for other reasons. \"I’m glad I did it, but it didn’t advance me in a career way and so I had to come back with cap in hand on the train. I had used my last francs, you see. I think the ticket was about 8500 francs. These were old francs, of course, and that was for my boat and then train to Victoria. I had to ring my mother. I asked if there was any chance of her coming up to London with some money when I disembarked because I hadn’t enough to finish the journey. It was quite an experience, that’s for sure.\" \"After Paris, I enjoyed being an estate agent sufficiently enough to talk myself into a job as Country House Manager at a then-small London company called Hamptons. Things really started happening after that. I was ‘sought out’ by a competitor within two years to head their Piccadilly office. In no time at all, I was asked to open overseas offices for them, and I did so in Malta first, and then Cyprus and Athens. Exciting times for a young married man in his twenties! It’s something I should have thought about at a much earlier time in my life. And I say that with hindsight as it really suited my personality.\" \"While I was working in London, a business colleague suggested that we share a villa in St Tropez for that summer. He was a highly successful estate agent and often took his wife, two children and their nanny there.\" \"The first year, which I think was 1970, I said, if we are heading to St Tropez, we better have a boat. And so we bought one at the Boat Show. An 18-foot emerald green speedboat with a large outboard engine. We continued to go there for four years – just my family thereafter, and with our own rented villa.\" \"I drove a Rolls-Royce Silver Cloud 3 and an E-type Jaguar back then, too.\" Private Client Consultancy Page 26

On occasion, while summering in St Tropez, we would catch sight of Bridget Bardot sunning herself on the private beach of her villa. I first saw her when I was shopping one day in the harbor. So, I took to waving when I saw her. Circa 1960 or 61, I had been an extra in a film in which she starred. It filmed in central London. The work that I did was around Westminster, near the Houses of Parliament actually. My memory is not what it used to be, so the name of the movie escapes me - but I’m sure you can look that up. Bardot was an incredibly beautiful woman. Some 10 years later or so, I would see her fairly regularly in the summer residing at her property. And on occasion she waved back to me, you know. However I can’t pretend she had the vaguest idea who I was. \"1974 saw the very unhelpful financial collapse of the pound and business in general. Ihad support from my bank for a while, but it was necessary for me to start doing something else as it was clear that, although I was very comfortable on paper, the company was going to go bust and I had given, in my then ignorance, a number of substantial personal guarantees (PG’s). I had various property deals offered to me, so I had decided to start a company to trade them. This was a few years earlier in 1968. I was financed by what were then known as the new bankers on the block, First National. I resigned my employed position soon after and built a good board for my company, which included a solicitor as my deputy Chairman. We did rather well over the next few years, and because of that I enjoyed many of the trimmings financial success brings. The same deputy chairman/solicitor kindly asked me to join his firm and train to become a qualified solicitor. While I did that, I would also start a Family Law Department in his firm. I gratefully accepted his offer and remained with them for the next 21 years.\" Brigitte Bardot, 1965 - Photographer, Douglas Kirkland. The picture was shot during the filming of Viva Maria! Page 27 Private Client Consultancy

View from the Citadel, St Tropez - French Riviera \"I started other companies doing land and As Simon savoured his glass of Rioja, Rotary have big projects on the property deals, and having paid back I asked him about the most expensive agenda, but of course we do the local about 250,000 GBP in PG’s by 1979, I soon bottle he has in his cellar right now, and charity as well. And it’s wonderful! We started making far more money as a being the busy man that he is, how is he provide food to those who are less director of property companies than I did fortunate and sleeping on the streets as a lawyer.\" filling his time at the moment. here. It’s incredibly rewarding!\" \"And about that village I bought, that was \"Quite possibly my Chateau Margaux \"Oh, and I believe I have a buyer who situated in the Dordogne. I sold it to an 1999. That’s certainly the most expensive will be purchasing the last of the Australian couple in the late 70’s to help and drinkable I should think. I mean, I houses that we have constructed here pay for the private schooling of my haven’t acquired very much wine from the in Marbella, so I’m very hopeful for children and aforementioned PG’s Then in last century, but that one is still in good that. The interesting thing is, he is the 1991, I bought a house on Mijas Golf condition.\" father of the first person who bought a Course and transferred my affections house which is right next to mine. from France to Spain (which I had first \"And now! How wonderful! visited in the summer of 1959).\" I am the 4th president of the Arts and Cultural Club of Marbella which has been That’s it all done then. \"Sadly, my then-wife decided to leave me going for approx. 16 years, I think. And I for a mutual friend of many years and am a fairly new member of Rotary The development will finally be complete.\" asked me to divorce her - she said I was International in Mijas Costa. where I was so experienced in divorce work that she recently made the chairman of the \"You know, I have lived here in Spain would leave it all to me and not engage a membership committee, and much enjoy long enough, and I have travelled the solicitor for herself.\" the work.\" world wide enough, but I can’t think of anywhere I would prefer to be. \"After 34 years of marriage, I found myself needing to begin a whole new life. The This is my home! And who knows … following year a couple of company I may even retire. AGAIN!\" chairmen on whose boards I had served during the previous two decades, asked I have to say, in the case of Rotary, it’s me to join them in starting a property very active. We have two meetings a development company in Marbella, Spain. month. We raise a lot of charitable funds too. They’ve really been quite impressive - I jumped at the opportunity!\" impressive to me anyway. ”Tracey, I have just opened the first bottle of a Rioja Gran Reserva 2015. And with your permission, I’m going to taste it and see. I read a book the other day about the O Blood group, which I have, it said the only wine that is good for the O blood group is red. Good to know.” Private Client Consultancy Page 28

Invest UnwiniYnOdU Spaat the Page 29 Private Client Consultancy

Modern life is something of a juggling act of deadlines. In a time where we do not seem to ever have the chance to fully switch off between work commitments, information overload from the media, maintaining our homes and everything else going on, it can be a lot. Because of all of these external factors, your current lifestyle may be swarming you with stress that can impact both your physical and mental health. More people are discovering the health benefits of taking time out for some relaxation and to rejuvenate. Stress, if left to build up, can grab your attention with physical symptoms such as muscle pain, exhaustion, and headaches, among other things. A day of some spa could be just what the doctor ordered as therapy can offer you an enjoyable way to wind down and release accumulated stress from your body. The purpose of a spa has always been the same - to provide a space where you can go to relax your body and your mind. A type of therapy that helps to heal you mentally, spiritually, and physically, promoting longevity and an overall sense of wellbeing. And today, many spa treatments are known to improve circulation, reduce inflammation, improve mental clarity, and even enhance your body’s autoimmune response. You might prefer to treat yourself with the 'at home' option with candles and a hot bath, or level it up to a spa hotel, take your partner on a getaway or have a ladies weekend. It can be a great bonding experience where you will have the chance to take a step back together and do something new while being able to really connect and communicate on a deeper level. Ultimately though, a spa break is about you. So, take the time to tune out from reality, read a good book and treat yourself. Often, women in particular leave the spa feeling much more in touch with their natural beauty after manicures, exfoliation remedies, and intense skin moisturising that leaves their skin glowing. Thereby helping them become more confident about themselves overall. With massages, body wraps and a whole menu of treatments to choose from, you can create a spa day that includes everything you want to be pampered with. We gift others all the time, so adorn the fluffy white robe, turn off your mobile phone, and escape for a few glorious hours. Private Client Consultancy Page 30

Coffee breakWhimsical The Life of an Olive Tree by Elle Lawrence Page 31 Private Client Consultancy

It was windy again. The summer soon came and I felt I remember feeling complete during different this time. My leaves were that season, finally like myself. And I didn't much like the wind; it would decorated with tiny white flowers. In though they had always been kind to bend me back and forth, testing my fact, I looked just like the other trees. me, I think after that first year of fruit boughs. My young and slim trunk Happiness flooded my branches, as the other trees respected me more too. bowed so much that I worried that it they reached a little further towards might snap. But I was flexible. And my the sky. I held myself taller and proud And then, as they have every year since, leaves, they never seemed to stop that day. the refreshing and replenishing rains billowing. The older trees didn’t seem came to quench our thirst. That was to mind the wind much. They stood tall I could not believe how the time had also the time the olives were picked and strong as the air swished and flown by when my flowers turned to and left us to go to their new homes. parted around them. fruit. They were so excited to leave. And although I was sad to see them go, it At least now the days were beginning My deeply established roots sought out was a great relief and meant I could to get longer. The afternoon sun was the winter rains that were deep below finally take care of myself for a while. blissfully shining down on me, but not the ground while the sun nurtured my yet hot enough to warm me all the way pale green fruit from above. Life was Off they went onto the next adventure, to the tips of my roots. I had been literally buzzing all around me. All sorts while I stayed in the same place, with through the seasons a few times now of birds and insects would come to the same rich soil, month after month and I knew that radiant and nourishing visit. and year after year. That’s what I was heat wasn’t far away. made to do. Even if I could, I have no The Bumblebee was my favourite back wish to travel, my roots run deep, and I was incredibly young and incredibly then - still is. They were sweet and belong right here, while my olives impatient. kind, always taking their time to say travel the world - leaving my mark hello even though they had a busy role wherever they go. Being in the middle of an olive orchard, to fill - being the pollinators of this it was hard not to compare myself to world. They were so much kinder than the other trees. Some of my closest those pesky wasps, always in such a friends were more than a century old. I rush, pushing others out of the way. however, had yet to bear fruit. Here I sit, so many years after that first bloom. I’ve lost count how many I have seen come and go. Almost all of my family are still around me. We spend the days together growing and watching the landscape change. We watch as the older trees are taken away when they fall – to be quickly replaced by fresh 'new' saplings. I look at them and remember once more how it felt to be one of them. New, a little scared, and all alone. I see my memory for what it really was. It's certainly much clearer than I saw things back then. With my pliable branches symbolising my youth, not weakness, and my billowing, abundance of lush green leaves that made me look and feel wonderfully alive. My branches although changed, still have some time yet before fragility sets in, but oh how I wish I could be a young sapling again, swaying gently with 'my friend' the wind. Private Client Consultancy Page 32

Beautiful BULGARIA In recent years, Bulgaria has Bulgaria is very affordable compared With many British opting for a more grown in popularity as a tourist to the rest of the European Union. natural and relaxed lifestyle, Bulgaria operates a flat tax system bordering with Greece, the country is destination with the country whereby personal and corporate tax well integrated into Europe and becoming better known for its rates are 10% across the board. For easily accessible with it only being ski resorts and mystical Black anyone looking to reduce the amount around 3 hours on a plane for family of tax they pay on their income or to visit from the UK. Sea coastline. business profits, therefore, Bulgaria is extremely attractive. The short journey back to the UK is Many British have chosen to take the good for the people who stay in plunge by packing up and moving A third of Bulgaria’s 378km Black Sea across Europe to reside in Bulgaria coast is made up of golden, sandy Bulgaria on a part time basis. Many either on a full or part time basis. beaches. Along it you will find some expats choose not to remain in Although it may be one of the less charming coastal outcrops, such as Bulgaria for the winters as they can talked about countries in Europe for Nessebar, the “Pearl of the Black Sea” be harsh with temperatures dropping expatriates, when compared to the and a Unesco World Heritage site. into minus double digits. Brrrrrr! more well-known countries such as the typical France, Portugal or Spain, The landscape is not the only varied It’s not all glitz and glamour. Bulgaria actually has a whole lot to thing about Bulgaria though as it is a offer. country where the scenery changes Bulgaria, as a former member of the all year round. Eastern Bloc, also boasts a healthy When set side by side with other dose of Stalinist architecture. Sofia, places on the continent, Bulgaria can Being one of the leading agricultural the nation’s stunning capital, is home be seen as relatively inexpensive. exporters in South-eastern Europe, to the Largo, a communist ensemble More especially after experiencing the country has a long tradition in of three Socialist Classicism the cost of living in the United cultivating major crops. As one of the buildings, all commissioned in 1951 Kingdom, even more so in the oldest countries in Europe, Bulgaria and finished in 1957. A statue of current economic climate. is packed with history and rich Vladimir Lenin was replaced in 2000 culture. by one of St Sophia. But just because there is a lower number on the price tag it does not There are some beautiful historical Up and coming with its growing wine necessarily mean you need to sites across the country such as the industry, rising property prices, and compromise when travelling or medieval Tsarevets Fortress located plans of soon adopting the Euro after relocating to this emerging country. in the country's previous capital in more than 140 years of the Lev being the north, Veliko Tarnovo. the national currency, has been a The cost of living in Bulgaria is long time coming. 48.12% lower than the UK, US, or The stronghold is open for visitors to other Northern European countries. explore, and even though it is quite a You might see actual bears. Oh my! steep trip uphill, at the centre of the In Bulgaria, alcoholic and non- fortress lays a church with such This should really be at the top of the alcoholic beverages cost, on average incredible artwork depicted across list. There are bears in Bulgaria. Yes! 65% less, and get this… clothing costs its interior that the hike is without You might actually see bears. are a whopping 75% less than the doubt - worth it. European Union average. There are said to be between 400 and Bulgaria is already home to an 700 brown bears in the wild. Naturally enough, a low cost of living estimated 18,000 British people. According to the Balkani Wildlife is a massive draw. Retirees may find Society, they are split between the that their pension income goes far Rilo-Rhodopean and Central Balkan further in Bulgaria – and they could regions. benefit from a move as they will not be dependent on the local economy to provide them with a living. Page 33 Private Client Consultancy

\"Not quite Heaven on earth, but close\" Private Client Consultancy Page 34

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The new King is about to have his crowning moment of glory as the U.K. prepares for its first coronation in 70 years. Jony Ive and his design firm LoveFrom, designed the emblem (far left) for the coronation of King Charles III. Ive, who received a knighthood from Queen Elizabeth II in 2012, left Apple in 2019 to form LoveFrom. The design firm has since worked with clients like Ferrari and Airbnb, though Apple ended its consulting agreement with the former chief design officer in July. The coronation—known by the code name Operation Golden Orb—is set to be a lavish display of quirky British traditions with some more modern touches. Brits are invited to celebrate across a three-day weekend, where pubs and bars will be allowed to stay open for two additional hours on the day before and the day of the coronation. Charles is getting ready to receive a new wedding ring during his coronation ceremony at Westminster Abbey on May 6, 2023. Not only will Charles mark his new role as the head of England by having a crown placed on his head, but he’ll also receive a coronation ring known as “The Wedding Ring of England.” While Charles is already Britain’s monarch, a suitable amount of time must pass before his official coronation could take place. Queen Elizabeth, for example, was crowned on June 2, 1953, 15 months after her father King George VI died on Feb. 6, 1952. After the coronation, Charles will also wear the Imperial State crown, created for the coronation of King George VI in 1937. The vibrant coronation invitation (above) has been designed by Andrew Jamieson, a heraldic artist and manuscript illuminator and a Brother of the Art Workers’ Guild, of which King Charles is an Honorary Member. The palace explained that the ‘original artwork for the invitation was hand-painted in watercolour and gouache, and the design, which recalls the Coronation Emblem, will be reproduced and printed on recycled card, with gold foil detailing.’ Included in the design is ‘the motif of the Green Man, an ancient figure from British folklore, symbolic of spring and rebirth, to celebrate the new reign.’ Shown ‘crowned in natural foliage’, the form of Green Man is made up of ‘leaves of oak, ivy and hawthorn, and the emblematic flowers of the United Kingdom.’ Private Client Consultancy Page 36

PROPERTY by Andrew Davies 2023 Business Development Director API GLOBAL Buy-to-let property investment has been a top choice for many investors over the years. Providing regular income and considerable capital appreciation, investors will often cite real estate as being able to bring some of the best returns over the last decade. However, is property still a good investment in 2023? What are Investment Properties? An investment property is a piece of real estate purchased with the intention of generating a return. This return could be through rental income, capital appreciation from future resale, or a combination of the two. However, as with all ventures, investing in property can get quite intensive. So, why should you invest in UK property? Huge Tenant Demand with Housing in Short Supply In the wake of the pandemic, the influx of lockdowns and other mandates have led to an unprecedented change in the UK property market – making right now potentially one of the best times to invest. More people than ever are looking to rent instead of buying a property outright, and the population in the UK is continually on the rise. Alongside this, there’s a severe lack of supply to meet the growing demand for housing. As the market remains so volatile, more people will likely rent instead of buying a house outright. For example, according to the latest Housing Census data, the number of renters in the UK has increased by 28% over the last ten years. Page 37 Private Client Consultancy

PROPERTY According to Zoopla, demand for rental property is 46% above average – with total supply 38% below average. Massive Property Price Property is Lower Risk Growth for Rental Property than Other Strategies The most significant appeal behind investing in property Compared to other investment strategies (such as stocks is the potential for long-term capital growth. and cryptocurrency), buying property is often considered a relatively lower risk. This is because the property With demand for housing on the rise, prices continue to market, particularly in the UK, has proven to be highly grow – offering some of the highest returns possible in resilient during economic turmoil, making this an the UK. excellent opportunity for those seeking a more stable investment. This is another of the significant advantages In 2021, for example, the average value of UK property of investing in real estate and a big reason many people surpassed £250,000 for the first time, increasing at the invest in properties. fastest rate since the early 2000s. As of December 2022, the average property price in the UK is now valued at Conclusion £294,329 – 17.7% higher than in 2021. As long as you have the means and know-how, you should Depending on where you invest, you could see even consider getting involved with UK property investment. higher values. The market is most likely one of the most potentially profitable (and growing) ventures to get involved with For example, Liverpool, one of the best UK investment at the moment – for both UK and foreign investors alike. hotspots this year, has seen property prices skyrocket by 18.1% in the last year, with other areas in the North If the growth rate stays healthy for the foreseeable future, West seeing similar growth. Factoring in additional barring any surprise market collapses, this period is the growth predictions from Savills, which anticipate up to best point to get involved. It is, however, essential to an 11.7% price growth in the North West region and 6.2% remember that this guide serves as just an introductory in the UK overall by 2027, it’s clear that long-term welcome to the investment process. You will need to investors could be set for a fantastic cash pay-out in research and consult an expert property company to the coming years. ensure you get all you can from an investment! Private Client Consultancy Page 38

INVEST IN Spanish Interior Design DESINIGN Investing in a new property almost always means investing in a beautiful new interior. Never does a newly bought property mean the investment side of things have stopped. It’s now time to put your stamp on it. To make it an outward expression of who you are and what matters to you. It can even mean being a little more extravagant with your vision if you have the coffers to splash rather than doing all the work yourself. Page 39 Private Client Consultancy

DESIGN Spain, as anyone who has been there will tell you, is a A designer will work to create your dream space the beautiful country by nature with its diverse landscapes way you envision it, bringing your ideas to life. and enchanting views. It is home to majestic structures that date back to the Roman times with Finding the right interior designer for you can be a ageless architecture that can be found the length and lengthy process. You want the right style, aesthetic, breadth of the country. Many of these world- and trend. A studio or person who ticks all the right renowned designs are the foundation of Spain’s boxes. history and culture. Are you ready to transform your office or upgrade The intricate detail on the outside of Spanish builds is your home? Take a look at some of the most often reflected on the inside too. The role of an fashionable interior designers in Spain. interior designer is to create functional, safe, and aesthetically pleasing spaces. Ambience Home Design Carrillo Interior Design Studio Founded by German designer Andrea Böck, Madrid based, Carrillo Interior Design Studio was Ambience Home Design was formed in 2002. founded in 1959 and the team have constantly evolved to create designs all over the world. The four sisters With their studio situated in Marbella, the team grew up in their parents’ wood workshop, where at Ambience Home Design share their passion for the watching craftsmen taught them to have care and interior design world. passion for their work. E xamples of their work can be found globally, Their company prides itself with the personal touch. including in the United Kingdom. Each project they work is treated uniquely for the client, offering exclusive designs of a high quality. Ambience’s highly experienced designers all set out with the same goal in mind of meeting the client’s Professionalism and passion for the art have been the requirements and preferences while staying within keys to success for this studio. deadlines. Ambience were voted Best Office Interior Europe in the European Property Awards for Interior “Trends are practical but ephemeral, personality is an Design 2022-2023. The company meet challenges essential and indelible stamp.” head on by “implementing solutions with spotless quality and craftsmanship” and with Ambience’s achievements it is clear that their way of work is a success. IL-Q Isabel Lopez Quesada discovered her talent for design at just 13 years of age. Her unique skillset allowed her to establish her own interior design studio where she can mix her love for contempory trends such as traditional English and French décor. Every detail is personalised in IL-Q's work. Her dedication to design has taken her to France, Japan, the Unites States, and Dominican Republic. Quesada and her design team are now one of the most talented agencies in Spain. Quesada, affirms that “a house, as a person, must combine tradition and modernity.” Private Client Consultancy Page 40

PROPERTY UK HMO Investing Property for Income In this article a family based in the UK with their own property investment business, will take us on a journey that explains the key considerations of this type of investing and why they as property investors and developers have focused on small (HMO) projects to maximise their income and the return on investment (ROI) for their investors. The property investing business led by sons, Ryan and Robbie Beaumont, are backed by wealthy investors that form a group of companies primarily owned by the Beaumont family members. They currently employ 30+ members of staff from development, construction, and property management. And today, they have over 160 properties on their books, with £10m GDV. B&P are a small business that’s growing fast in the North-East of England. Hugh Beaumont, the Father of Ryan and Robbie, said: “On our journey, friends have approached us to find property for them. These friends then introduced other contacts to us, and we now have many investors that we are acting on behalf of to produce successful property investments. These same investors even buying again - some for the 3rd and 4th time.” “As a business our focus is to invest for yield. We have no interest in the riskier strategies of buying and hoping to sell at a profit. Instead, we intend to keep our portfolio for the benefit of future generations of little Beaumont’s.” “Within our portfolio we have several larger commercial to residential projects, which have produced single let properties, serviced accommodation, plus many HMO’s. in 2022 we saw interest rates rise, utilities jump and supply chain issues with materials, resulting in sharp increases. We adjusted our strategy to focus on simple 5 and 6 bed HMOs, but now in my excitement, I am jumping ahead.” Page 41 Private Client Consultancy

Clearly, leveraging the returns is What is an HMO? good for UK investors. An HMO is a house of multiple occupancy, in our strategy this is For those investors that are non-UK where we convert a typical 3-bedroom terraced house into 5 or 6 resident, B&P believe mortgages are bedrooms, all with luxury en-suites (tenants prefer private available, but at a lower loan to value, bathrooms) and a shared kitchen facility. Our typical tenant and higher interest rate. profile is a working professional, government worker, nurse, police officer, and so forth. We avoid the student accommodation This is a subject best discussed with market. your Private Client Consultancy Wealth advisor. Our property journey was quite prejudiced about HMOs, seeing them as run down properties, with beds thrown in each room and To contact Beaumont & Partners, somewhere you stayed if you were in challenging times. Indeed, email Hugh Beaumont directly at: we have seen many examples of such HMO’s still on the market. [email protected] Thankfully, the Government have been robust in tightening or WhatsApp (UK mobile) no: legislation and driving the tired old landlords out of the sector. - 0044 7815 948 353 From our perspective, we aim to provide the best experience for our clients, the tenants, in return we enjoy the highest rents. Indeed, our rents have risen from an average of £450 per month for an en-suite bedroom in early 2020, to £650 per month for the same size and specification today. Why are HMO’s so popular with tenants? From the tenant’s perspective, by renting an HMO, they pay one payment a month that covers everything, while a small flat might be a similar rent level, but then they must fund the utilities, council tax and so forth, which is considerably more expensive. Some clients are working in the area during the week and return home at weekends, so they don’t want the added costs of furnishing somewhere they may only need for 6 months or a year. Finally, some of our clients are busy saving for a house and are keen to keep their costs down. Whatever the reason, high quality HMOs fulfil a major housing need in the UK. Why the Northeast? My grandfather Leonard Beaumont was from the North-East but left home at 13 and ended up in the navy during the first world war and never returned, so I can’t say we had a strong family link to the North East, although I hasten to add that Leonard spent many happy an hour telling me about Newcastle United!! Our reasoning for focusing on the North-East was simply business and financial logic. The Midlands and the North West had enjoyed a property boom during the last ten years or so, but the North East had been neglected for years by successive Governments. Thus, the price of buying a property and the yields were better, but the key was the levelling up agenda. This has brought billions into the North East and this is set to continue. Wages, population, infrastructure, are all on the way up. How does our model work? Our first aim is to source a suitable property for our client. We look for key locations, close to amenities, local transport and hospitals. We have a network of contacts with potential properties that our team source daily. We want properties that do not require substantial structural work, or are run down, but we do, however, need to negotiate the best deal. Why not buy an existing HMO on the market? There are companies that offer this service, whereby they buy, refurbish, and then sell on at a huge profit to themselves. Some of the stock on the market doesn’t meet regulatory standards either. Its far better to make the uplift in value yourself and to ensure the property is refurbished to the correct standard. Very few properties offer en-suites and if they do, they have usually cut corners, for example shower trays that a garden ant would struggle to fit into. Private Client Consultancy Page 42

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