Peter Murray OBE highlights in "The Great Estates" foreword the integral role of London's historic estates in preserving heritage, promoting community engagement and other purposes.

The historic estates of London are a key component of the city's unique character and heritage. Their advantages as long-term holders of property are recognised as being of benefit to newer, large-scale, mixed-use developments, as well as to the public sector.

London's estates are custodians of a rich heritage of architectural significance and have played a vital role in preserving and maintaining this legacy, ensuring that the city's history is protected for future generations. They take an active role in urban planning and development within their respective areas and have the resources and expertise to curate and fund vital improvements to their local areas.

The estates are known for their maintenance of public spaces, including parks, gardens and squares. They invest in landscaping and security. They actively engage with local communities, supporting local businesses and providing amenities and services that enhance their quality of life, initiatives that have become increasingly important in recent years.

Estates make significant economic contributions to the city, providing employment opportunities, supporting local businesses, and contributing to the overall economic vitality of their areas. They are stewards of a diverse portfolio of properties, including residential, commercial and retail spaces. Their expertise in property management helps ensure that buildings are well maintained.

The great estates typically adopt a long-term approach, ensuring the continuity and sustainability of their areas. This involves balancing commercial interests with preserving heritage, maintaining a sense of place, and considering the needs of current and future residents.

Long-termism encourages sustainable development practices. It involves considering the environmental impact of property investments and management decisions. By incorporating sustainable features, such as energy-efficient design, renewable energy sources and eco-friendly materials, long-term property owners contribute to reducing their carbon footprint and promoting environmental stewardship.

Long-term property owners are more likely to invest in the local community by supporting local businesses, infrastructure development and social initiatives. This contributes to a sense of belonging, fosters social cohesion and enhances residents' overall quality of life. Long-term promotes better tenant relationships. Property owners prioritising long-term value are more likely to focus on maintaining high-quality properties, providing responsive management services and fostering positive tenant experiences.

While historic estates dating back hundreds of years may seem an anomaly in the 21st century, in reality, they deliver essential benefits for the capital, its planning, architectural heritage, public spaces, stewardship and its future.