At 82, with six decades of business experience under his belt, Neil Sinclair could be forgiven for slowing down. No chance. The property veteran firmly believes “the best years are still to come.”
Having built multiple successful businesses—including as co-founder of Palace Capital plc, a UK listed Real Estate Investment Trust (REIT)—Sinclair has recently launched his latest venture, Pristine Capital Plc a listed cash shell, waiting to snap up distressed property opportunities. His business partners? Fellow octogenarians -and industry experts Stanley Davis, 86, and Andrew Perloff, 80. Andrew had been an investor in Palace, while Neil and Stanley both worked there.
“The way I see it,” says Sinclair, “we’re just getting started.”
“My mother, who lived to 93, always told me not to retire. She said her father retired and it made him unhappy. I’ve seen it with others too – if you don’t keep your brain active, it’s not good.”
Sinclair is in good company when it comes to working into his 80s. He joins the likes of fellow property heavyweights Sir Gerald Ronson, 85 (May), and Harvey Soning, 80 (November), who also show no signs of stepping back.
“There’s quite a few of us still around,” says Sinclair, friendly and fondly. “Gerald is 85… and when I was Co-CEO of Sinclair Goldsmith, a listed firm of chartered surveyors, Gerald was one of my biggest clients. I did loads of business with him.” He recalls one particular deal in Swiss Cottage, where he acted for Gerald’s company Heron International, on the acquisition of 100 Avenue Road.
“I think he’s one of the best. When he says he’ll do a deal, he does it—and he has a wicked sense of humour.”
Sinclair speaks just as warmly about other industry legends. “I loved Irvine Sellar — I did a bit with him. And Nick Leslau— Henrietta House in the West End the home of CBRE, I did that with Nick.”
He also recalls the wisdom of Harry Hyams, who gave him some of the best advice, during his early career.
Hudson Quarter, York, 127 apartments and 40,000 sq ft of offices which when Sinclair was at Palace Capital they completed in 2021.
Sinclair has worked alongside some of the most influential names in the business, shaping the industry as they went. But despite “the legacy of the old guard”, Sinclair believes something is missing from today’s property world, which he says has “lost the charm… the larger-than-life figures, and the personal touch that once made it so dynamic.
“There are not many characters or personalities today — even in the government.”
Sinclair’s business journey began in the 1950s, when he was 16. “My father told me that I needed to learn the value of money; to get up in the morning, put a suit on and learn how to talk to people.” Sinclair got a part-time job with Smart Weston, a menswear retailer in London. “I worked in a shop in Shepherd’s Bush – the BBC was around the corner so a lot of famous faces came in. Benny Hill came in one day and performed a five-minute comedy act right there in the shop. It was experiences like that that helped me overcome any shyness I might have had and learn how to talk to people.”
Sinclair has since given his children, Emma and James – successful entrepreneurs in their own right – the same advice.
Sinclair says he “faced discrimination as a young Jewish man trying to break into the professional world.
“In those days, it was tough to find a job if you didn’t go to a public school and were Jewish. I struggled to get my foot in the door,” he recalls. However, following his father’s advice to walk into surveying firms and ask them directly, he landed his first property job age 17 with Goddard and Smith.
By the age of 26, Sinclair had struck out on his own, founding Neil Sinclair & Co, which weeks later became Sinclair Goldsmith when Peter Goldsmith joined him. The firm experienced incredible growth but was not immune to the turbulent economic climate of the 1970s, including the commercial property crash. “I’ve been through several crashes,” Sinclair reflects, “but each time I’ve learned and come out stronger.”
By the early 1980s, Sinclair expanded his business internationally, opening an office in New York and quickly finding success. In 1987, he helped lead the firm through its flotation on the London Stock Exchange, becoming the third commercial surveying and agency firm to go public. In fact, after we went public, Savills came to me for advice on how to handle the process.”
Despite weathering further storms—such as the Black Monday crash in 1987 and the early 90s recession—Sinclair’s firm continued to grow, eventually merging in early 1993 with Sir John Ritblat’s firm, Conrad Ritblat, resulting in the formation of Conrad Ritblat Sinclair Goldsmith (CRSG). This merger enabled CRSG to expand its operations and diversify its portfolio. Sinclair left in late 1994, seeking to recapture the entrepreneurial spirit he felt was missing. “It was a bit too big for me. I wanted to get back to my roots, so I started my own company again.”
In 2005, Sinclair teamed up with his daughter Emma to launch Mission Capital, a property & car parking company that was floated on the stock market, with Emma becoming the youngest CEO of a publicly listed company. After exiting that business, Sinclair again found new opportunities, partnering with Stanley Davis and Andrew Perloff in 2010 to form Palace Capital, a company that focused on properties outside of London and built to a market capitalisation of £160 million. But even with such remarkable success, Sinclair wasn’t done yet and when he left Palace Capital following a disagreement on strategy after posting record results, he, Davis and Perloff teamed up to take control of More Acquisitions (now Pristine Capital). “We said to ourselves, everything is terrible; the government, the economy, the stock market, so this is the time to try and find another little company.”
Neil and Pamela Sinclair at this year’s The Props awards. Photo: Fergus Burnett fergusburnett.com
Sinclair’s entrepreneurial drive has extended beyond his own ventures. In 1991, he and Ronnie Nathan co-founded the PROPS – an awards ceremony akin to the Oscars for the property industry, which has raised over £12 million pounds for Variety the Children’s Charity and helped fund over 2,000 wheelchairs for disabled children. Neil’s wife Pamela has been involved in Variety since 1975 and in 2016, was elected Chief Barker, the charity’s highest position. The couple were recently honoured by Variety International with the Lifetime Service Award, given to them both at the PROPS last month in the presence of over 900 people.
They live in St John’s Wood and are members of the Central Synagogue.
Sinclair has seen the property landscape evolve significantly during his career. “When I was working in US in early 80s, I remember having a meeting at Citibank and I asked the guy what he was doing on his computer. ‘That’s ‘electronic mail’, he said. I thought it was fantastic; to be able to send an instantaneous message. It’s transformed how we work.”
When asked about his work-life balance, Sinclair is candid. “There was a time when I wasn’t there as much as I would have liked. But when you’re building a business, sacrifices are necessary. You can’t just expect everything to happen without putting in the hard work.” Now, as he continues his ventures, he still enjoys his personal life, regularly playing golf at Dyrham Park.
His advice for today’s aspiring property professionals? “Have self-belief. If you think you can do something, just do it. Don’t be afraid to take risks.”
