On the one hand, it offers the rare opportunity to shape some of the most famous and characterful streets in one of the world’s most vibrant cities. On the other, trustees must be kept happy and historic buildings must be maintained while simultaneously being made suitable for modern uses. It is both a thrilling and daunting task.

Yet it is one that The Portman Estate’s employees appear to relish. It is just as well. The estate plans to invest £320m in its portfolio over the next 10 years and undertake more direct development than ever before, which, it claims, will result in the most radical transformation it has undergone since much of it was rebuilt after the Second World War.

So what has led The Portman Estate to pursue a new strategy? And what developments are in the pipeline?