Grosvenor Group

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Grosvenor Group Limited[1]
Family-owned private limited company[1]
Industry Real estate
Founded 1677; 340 years ago (1677)[1][2]
Founder Sir Thomas Grosvenor, 3rd Baronet
Headquarters 70 Grosvenor Street, London W1K 3JP, United Kingdom
Area served
Worldwide
Key people
  • Mark Preston, FRICS (CEO)
  • Nicholas Scarles, FCA (CFO)
  • Lesley Knox (Chairman)
Products property, residential, real estate services, hotels, offices and shopping centres
Revenue Decrease US$79.2 million (2016)[3]
Decrease US$136.8 million (2016)[3]
AUM Decrease US$12.6 billion (2016)[3]
Total assets Increase US$59.5 billion (2016)[1]
Owner Hugh Grosvenor, 7th Duke of Westminster
Number of employees
10,800 (2016)
Parent Grosvenor Estate[1]
Subsidiaries Grosvenor Britain & Ireland[4]
Grosvenor Americas[4]
Grosvenor Europe[4]
Grosvenor Asia Pacific[4]
Grosvenor Fund Management
Website www.Grosvenor.com
www.GrosvenorEstate.com
Belgrave Square, Belgravia, one of the most prestigious addresses within the Grosvenor Estate.

The Grosvenor Group Limited is an internationally diversified property group, founded 1677; 340 years ago (1677), and headquartered in the United Kingdom. It has a global reach, now in 60 international cities, with offices in 17 of them,[2] operated on behalf of its owners, the Duke of Westminster and his family. It has four regional development and investment businesses:[5] in Britain and Ireland, the Americas, Australia, and Asia Pacific; an international fund management business,[4] which operates across these markets and in continental Europe; and a portfolio of indirect investments. Its sectors include residential, office, retail, industrial, and hotels.

The Grosvenor Estate[edit]

The history of the Grosvenor Estate begins in 1677[1][2] with the marriage of the heiress Mary Davies to Sir Thomas Grosvenor, 3rd Baronet (1655–1700). Mary had inherited the manor of Ebury, 500 acres of land north of the Thames to the west of the City of London,[2] which remained largely untouched by the Grosvenors until the 1720s, when they developed the northern part, now known as Mayfair, around Grosvenor Square.[2] A few generations later, in the 1820s, their focus moved south, to what is now Belgravia, developing Eaton Square, Chester Square, and other famous addresses.[2] Later in the 19th century, the area of Pimlico was developed; this was sold in 1953.

Nomenclature[edit]

Many of the streets within the estate are named after the Grosvenor family and its connections. The Grosvenor family became established in England before the 15th century, on the manor of Eaton in Cheshire, where is still located its principal seat Eaton Hall. Many of its early members sat as Member of Parliament for Chester. In 1874, Hugh Grosvenor was created Duke of Westminster; other titles held by the Duke are: Marquess of Westminster, Earl Grosvenor, Viscount Belgrave, and Baron Grosvenor. The title Baron Ebury was granted in 1857 to the 3rd son of the 1st Marquess, after the name of the original manor of Ebury (whence Ebury Street, etc. in Pimlico), and the 2nd son of the 1st Marquess succeeded his maternal grandfather under special remainder in 1814 to the title Earl of Wilton (whence Wilton Crescent etc. in Belgravia),[6] "The Cheshire villages of Lupus, Eccleston and Belgrave, within or near the family estate, are recognised in street names of the London estate."[7]

Buildings[edit]

The Mayfair portion of the estate includes Peabody social housing around Brown Hart Gardens.

International expansion[edit]

Although Grosvenor is often identified with its core asset, the Grosvenor Estate in London, which is now managed within Grosvenor Britain & Ireland, the present-day investment and development portfolio is now also in other parts of Britain and Ireland. International expansion began in the 1950s, in Canada, and later in the United States, hence businesses in the Americas.[2] In the 1960s, the businesses expanded into Australia, and, in the 1990s, into Asia Pacific.[2] Also in the 1990s, Grosvenor expanded into Continental Europe, where most current activity relates to Grosvenor's fund management business.[2] This was formally established in 2005, and now encompasses the Americas, Asia Pacific (including Australia), and Europe (including the UK).[2]

Properties owned by Grosvenor[edit]

Other large privately owned estates in London, UK, Europe, Asia, and Americas include:

  • Cadogan Estates (Chelsea, SW1)
  • Bedford Estate (Bloomsbury and Covent Garden)
  • Portman Estate
  • Smith's Charity Estate (South Kensington, SW7)
  • Pettiward Estate (West Brompton, SW10)
  • Kingston House estate, London (Knightsbridge, SW7)
  • Liverpool ONE, a shopping district, in Liverpool
  • District, an urban mixed-use residential and retail development in Washington DC, United States
  • Century Plaza II, a 99,126 sq ft class A office building in Silicon Valley, California, United States
  • Waterstone Apartment Homes, a 432-unit community in Silicon Valley, San Jose, California, United States
  • 240 Stockton Street, a ten-storey luxury retail and office building located in San Francisco, California, United States
  • 875 California Street, a condominium building in San Francisco, California, United States
  • 288 Pacific, a retail in Jackson Square, San Francisco, California, United States
  • 394 Pacific Avenue, an office building located in San Francisco, California, United States
  • 1645 Pacific Avenue, a luxury condominium building in San Francisco, California, United States
  • 185 Post Street, a luxury shopping centre in San Francisco, California, United States
  • Grosvenor Ambleside, a waterfront community and shopping district in Vancouver, British Columbia, Canada[1]
  • Connaught, a luxury village in Vancouver, British Columbia, Canada
  • The RISE, a luxury apartment building and shopping mall in Vancouver, British Columbia, Canada
  • Drake, a collection of 135 condominiums and townhomes in Calgary, Alberta, Canada
  • Haninge Centrum, a shopping mall in Stockholm, Sweden
  • Vasby Centrum, a shopping mall in Malmo, Sweden
  • Burlov Centrum, a shopping mall in Malmo, Sweden
  • Rue de la Republique, a community and shopping district in Lyon, France
  • Rue Serpenoise, a shopping retail complex buildings in Metz, France
  • The Westminster Terrace, a 59 floors luxury apartment building in Hong Kong
  • China Merchants Tower, an office building in Beijing, China
  • Parkside Plaza, a shopping mall in Shanghai, China
  • Grosvenor Place Kamizono-cho, a luxury residential development in Tokyo, Japan
  • The Westminster Roppongi, a luxury apartment building in Tokyo, Japan[1]
  • The Westminster Nanpeidai, a luxury condominium building in Shibuya, Tokyo, Japan

References[edit]

  1. ^ a b c d e f g h "Grosvenor Group Limited - Annual Review 2015" (pdf). www.Grosvenor.com. Grosvenor Group Limited. Retrieved 16 May 2017. 
  2. ^ a b c d e f g h i j "Grosvenor Group Limited - History". www.Grosvenor.com. Grosvenor Group Limited. Retrieved 16 May 2017. 
  3. ^ a b c "Grosvenor Group Limited - 2016 Financial Statements" (pdf). www.Grosvenor.com. Grosvenor Group Limited. 23 March 2017. Retrieved 16 May 2017. 
  4. ^ a b c d e "Grosvenor Group Limited - Approach". www.Grosvenor.com. Grosvenor Group Limited. Retrieved 16 May 2017. 
  5. ^ "Grosvenor Group Limited - Businesses". www.Grosvenor.com. Grosvenor Group Limited. Retrieved 16 May 2017. 
  6. ^ Debrett's Peerage, 1968, pp.1147–1148
  7. ^ Loelia, Duchess of Westminster, Memoirs of, London, 1961, p.174

External links[edit]