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‘Fifty years ago, if you inherited a landed estate you were probably among the richest of your peer group. Now, you are much less wealthy than your peers who went into investment banking,’ says Elliott. ‘Indeed, they are often the ones buying the estates.’ A seasoned solicitor with more than 30 years’ experience, Elliott acts for landowners, overseas investors and institutional owners. She is known for advising five-star and boutique hotels, and is singled out for her taxation and legal knowledge relating to business interests. ‘This new generation of owners and heirs understands that owning a landed estate does not give a sense of entitlement, or a position in society any more,’ she says. ‘The real pleasure is that they are not resentful of that — they are highly entrepreneurial.’

Penny Elliott