Like the squire touching down outside old quarters (10)

I believe the answer is:

landowning

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'like the squire' is the definition.
I can't tell whether this defines the answer.

'touching down outside old quarters' is the wordplay.
'touching down' becomes 'landing' (I've seen this before).
'outside' means one lot of letters goes inside another.
'old' becomes 'o' (common abbreviation eg in OE for Old English).
'quarters' becomes 'wn' (**).
'o'+'wn'='own'
'landing' going around 'own' is 'LANDOWNING'.

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(Another definition for landowning that I've seen is " Like a laird".)

I've seen this clue in The Times.

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