Steven Spyros is a Partner at Addisons, a major law firm, and serves a diverse clientele, encompassing large institutional clients, private client groups, and high-net-worth individuals. His clientele includes large-scale real estate developers, builders, lenders, hotel and serviced apartment operators and family offices. With a wealth of experience, Steven specialises in structured property acquisitions and disposals, real estate development transactions, commercial leasing, joint ventures, project delivery structures, corporate and acquisition finance, as well as project and real estate debt and equity finance. Steven and the Costi Cohen team have worked together on over $22,000,000 worth of deals in December last year alone.
Can you share a bit about your background and experience in property law? What led you to specialize in this area?
It felt natural to delve into bricks and mortar. I have always been around real estate and real estate people – I have a lot of family in the real estate business. I’ve always understood the complexities of real estate transactions and found enjoyment in navigating the challenges, from regulatory landscapes to balancing legal interests and commercial outcomes and dealing with the big personalities in the industry. The thrill of being involved in significant transactions that matter led me to specialise in real estate law, and I take pride in seeing the tangible impact of my work regularly.
In your opinion, what sets apart a great property lawyer from a good one? How do you ensure you provide exceptional service to your clients?
Distinguishing a great property lawyer involves staying proactive and innovative. I believe in providing clear communication, being a pivotal part of negotiations, and prioritising clients’ interests. Exceptional service means being a step ahead, addressing potential issues before they arise, and maintaining a trustworthy relationship. Having a high-performing team further ensures we deliver on promises and relieve clients of stress, acting as a trusted advisor in their business ventures. It’s a privilege that I do not take for granted.
For individuals or businesses looking to invest in property, what key legal considerations do you advise them to keep in mind to protect their interests? For property investors, key legal considerations revolve around getting the right legal structures from the start. Prioritise discussions on asset protection, tax strategies, and efficiency of structure. Often, clients face issues due to bad advice on structures, leading to later costs. Engaging on these issues early on is crucial to align asset protection with tax implications and ensure a well-rounded approach.
Finally, what advice would you give to someone seeking legal guidance for a property-related matter in Sydney? Engage the right lawyers early in the transaction. They will guide you through the legal process. Additionally, leverage the expertise of specialists like Costi Cohen, accountants, brokers, and funders. Prioritise quality over cost to avoid false economies and benefit from the experience, talent, and reputation of your consultants. Remember that you are only as good as the company you keep!