Luxury Property Industry Leaders In Conversation with Phil Wood (Catterson Wood)
Priya Rawal, Founder and CEO of The Luxury Property Forum sits down with Industry Leader:
Phil Wood, founder of luxury property developer Catterson Wood
Phil, it’s so great to have you here! Could you start by telling me and our readers a little bit about Catterson Wood as a company?
We are driven by a desire to create the most beautiful and luxurious residences in the world’s most exclusive locations. We deliver and coordinate on all aspects of the development process from site identification and acquisition, financing, architecture and design, construction, marketing, and sales - working alongside world-class designers, craftsmen and artisans to deliver our vision for each project.
Well we love having you in The Luxury Property Forum! So, what actually inspired you to start Catterson Wood? I would be so interested to hear about your journey!
I used to watch a lot of programmes about first-time property developers when I was younger. As this was TV, they would inevitably get everything wrong, not listen to any advice, yet still come out with a profit…this was 2006 after all!
I thought, how hard can this be? So I put my money - or more accurately, the bank's money - where my mouth was. I purchased a beautiful Victorian townhouse, which we converted into five one-bedroom and studio apartments. There was no family wealth to tap into, or background in property, so I had to learn everything as I went. In reality it wasn’t quite as easy as I anticipated it would be (!), but I am very grateful for the lessons I learnt on those early developments.
From there, we did bigger refurbishment projects, and eventually moved into multi-unit new-build schemes. Ultimately though, my passion for luxury and the creation of beauty came to the fore, and now we focus solely on prime and super-prime - quite a journey from where we started.
That’s so inspiring! And what sets you as an industry leader and your Catterson Wood apart from others in the luxury property sector?
Bringing together the perfect team, and ensuring that they are guided by a very clear and singular vision is crucial to the success of our schemes. I’ve made a very conscious decision not to have an in-house design team at Catterson Wood. I believe strongly that as each development is entirely unique, they require carefully curated design teams suited to that particular project. We’re currently working on schemes with Adam Architecture, Lees Associates, Laura Hammett, No.12 Studio, and Marcus Barnett Studio - all equally talented, but all very different in style and approach.
Curating the right team is so essential in this sector. Please could you tell us about a typical day in your working life?
There isn’t a typical working day for me, and that’s what I love so much about what I do. I do keep quite a disciplined approach to my morning routine as I believe this creates a strong foundation for whatever lies ahead in the day.
Some days I can be on site, others in design team meetings, dealing with financial institutions, reviewing opportunities, or speaking with brokers and investors.
This industry can be tough. What are some of the greatest challenges you have faced in your business so far?
Super-prime development in general has its own unique challenges, but that’s what makes it an incredibly exciting world to be involved in. Buyers at this level are far less willing to compromise, so it is absolutely crucial that every aspect of the development process is coordinated to perfection. It’s that challenge that really excites me. Where there is great challenge, there is great reward.
We couldn’t agree more. Well, speaking of “reward”, what are some of the highlights you have experienced since starting Catterson Wood?
The completion of one of our recent development projects, Vantage - which has spectacular views across to the French coast - was a particularly proud moment. We really wanted to push the boundaries in terms of design and luxury, and seeing all of our hard work come to fruition was a real highlight for me, and vindicated my instinct of what could be achieved.
Phil you are clearly a leader in the sector but who inspires you?
Whether you liked their style or not, the Candy brothers were pioneers in the luxury development world. They identified a market and a need, and executed their vision to perfection. You could argue that one of the reasons London is seen as the world-leader in luxury design today is partially down to them.
Outside of the UK, I really like what Michael Stern at JDS Developments is doing in the US. He’s ballsy and visionary in equal measure. He was just a young, hungry developer with no family wealth to speak of, and he’s now building huge luxury developments in some of the toughest markets in the world.
What advice do you have for people looking to become an industry leader in luxury property?
As I mentioned earlier, having a clear vision of what you want to achieve is key to success in this industry. Bringing together world-class design teams is only one part of the overall puzzle in delivering luxury property. You absolutely must ensure that those teams are guided by a singular vision, and that vision has to come from you.
Very sound advice! Phil, in an ideal world, what does the future hold for you and Catterson Wood?
I believe that the projects we are working on in Jersey will really put us on the map in the super-prime development world, so my immediate focus is on ensuring that they are delivered to perfection, ready for occupation in 2024/2025.
Beyond that, we’re looking at some opportunities in other prime markets globally - we want to deliver the very highest level of quality, design, and British elegance in other locations around the world. Watch this space!
And finally what does “luxury” mean to you?
Luxury has become such a ubiquitous word in property these days, so much so that its true meaning is being diluted.
To me, luxury ultimately comes down to experiences that can be acquired with great wealth - experiences that most people will never have access to. Anything that can be acquired that makes life more pleasurable, or saves you time to do things that truly mean something to you - that’s true luxury.
