Grosvenor Group Limited is an internationally diversified property group, which traces its origins to 1677 and has its headquarters in London, England.[6][7] It has a global reach, now in 62 international cities, with offices in 14 of them,[2] operated on behalf of its owners, the Duke of Westminster and his family. It has four regional development and investment businesses (Britain and Ireland, the Americas, Europe, and Asia Pacific)[8] and a portfolio of indirect investments. Its sectors include residential, office, retail, industrial, along with hotels.
| Company type | Family-owned private limited company[1] |
|---|---|
| Industry | Real estate |
| Founded | 1677[1][2] |
| Founder | Sir Thomas Grosvenor, 3rd Baronet |
| Headquarters | 70 Grosvenor Street, London W1K 3JP , United Kingdom |
Area served | Worldwide |
Key people |
|
| Products | Property, residential, real estate services, hotels, offices and shopping centres |
| Revenue |  US$1.2 billion (2017)[3] |
| US$622.3 million (2017)[4] | |
| AUM | US$36.7 billion (2019)[3] |
| Total assets | US$63.7 billion (2017)[1] |
| Owner | Hugh Grosvenor, 7th Duke of Westminster, and family |
Number of employees | 10,800 (2016) |
| Parent | Grosvenor Estate[1] |
| Subsidiaries | Grosvenor Britain & Ireland[5] Grosvenor Americas[5] Grosvenor Europe[5] Grosvenor Asia Pacific[5] Grosvenor Fund Management |
| Website | Grosvenor.com GrosvenorEstate.com |
Grosvenor Estate
editThe history of the Grosvenor Estate begins in 1677,[1][2] with the marriage of 12 year-old heiress Mary Davies to Sir Thomas Grosvenor, 3rd Baronet (1656–1700). Mary had inherited the manor of Ebury, 500 acres of land north of the Thames to the west of the City of London.[2] This area 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
editMany 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 its principal seat, Eaton Hall, is still located. Many of the family's early members sat as one of the two Members of Parliament for Chester.
In 1874, Hugh Grosvenor was created Duke of Westminster; other titles held by the current duke are: Marquess of Westminster, Earl Grosvenor, Viscount Belgrave, and Baron Grosvenor. The title of Baron Ebury was granted in 1857 to the 3rd son of the 1st Marquess of Westminster, 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 of Earl of Wilton (whence Wilton Crescent etc. in Belgravia).[9] "The Cheshire villages of Lupus, Eccleston and Belgrave, within or near the family estate, are recognised in street names of the London estate."[10]
Buildings
editThe Mayfair portion of the estate includes Peabody social housing around Brown Hart Gardens.
International expansion
editAlthough the Grosvenor Group is often publicly identified with its core asset, the Grosvenor Estate in London, now managed within Grosvenor Britain & Ireland, the present-day investment and development portfolio of Grosvenor Group is diversified across Britain. 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
editProperties in the UK, Continental Europe, Asia, and the Americas include:
- Liverpool One, a shopping district in Liverpool, UK
- District, an urban mixed-use residential and retail development in Washington, D.C., United States
- Century Plaza II, a 99,126 square 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
- Väsby Centrum, a shopping mall in Stockholm, Sweden
- Burlöv Centrum, a shopping mall in Malmö, 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
- F1RST, an urban mixed-use residential and retail development across the street from Nationals Park in Washington, D.C.
- Central, an award-winning mixed-use apartment building in Silver Spring, Maryland[11]
- Reay Forest, a deer forest in Sutherland, Scotland[12]
- Abbeystead Estate, Forest of Bowland, Lancashire, England.
See also
editOther large privately owned historic estates in London include:
- Bedford Estate (Bloomsbury)
- Cadogan Estates (Chelsea)
- Howard de Walden Estate (Marylebone)
- Kingston House Estate (Knightsbridge)
- Pettiward Estate (Putney and West Brompton)
- Portman Estate (Marylebone)
- Smith's Charity Estate (South Kensington)
References
edit- ^ a b c d e f g "Grosvenor Group Limited - Annual Review 2015" (pdf). www.Grosvenor.com. Grosvenor Group Limited. Archived from the original on 3 July 2017. Retrieved 16 May 2017.
- ^ a b c d e f g h i j "Grosvenor Group Limited - History". www.Grosvenor.com. Grosvenor Group Limited. Archived from the original on 10 May 2017. Retrieved 16 May 2017.
- ^ a b "Grosvenor - All articles". Archived from the original on 17 May 2018. Retrieved 16 May 2018.
- ^ "Grosvenor Group Limited - 2016 Financial Statements" (PDF). www.Grosvenor.com. Grosvenor Group Limited. 23 March 2017. Archived (PDF) from the original on 21 June 2017. Retrieved 16 May 2017.
- ^ a b c d "Grosvenor Group Limited - Approach". www.Grosvenor.com. Grosvenor Group Limited. Archived from the original on 8 May 2017. Retrieved 16 May 2017.
- ^ "About us". Grosvenor Group Limited. Archived from the original on 14 May 2019. Retrieved 27 August 2019.
- ^ "Grosvenor Group Limited". Companies House. Archived from the original on 27 August 2019. Retrieved 27 August 2019.
- ^ "Grosvenor Group Limited - Businesses". www.Grosvenor.com. Grosvenor Group Limited. Archived from the original on 8 May 2017. Retrieved 16 May 2017.
- ^ Debrett's Peerage, 1968, pp.1147–1148
- ^ Loelia, Duchess of Westminster, Memoirs of, London, 1961, p.174
- ^ "Grosvenor Americas' Central Wins A Five Star 2018 American Property Award". Citybizlist. Archived from the original on 6 November 2021. Retrieved 11 October 2018.
- ^ "Reay Forest Estate". www.grosvenor.com. Retrieved 15 December 2023.
Further reading
edit- Sheppard, F.H.W., ed. (1977). Survey of London: Volume 39, the Grosvenor Estate in Mayfair, Part 1 (General History). London: London County Council. pp. 67–82.
External links
edit- Grosvenor Group – official website
- Grosvenor Group – Report Archive Archived 2 May 2017 at the Wayback Machine
- Grosvenor Group Environment Review Archived 17 March 2014 at the Wayback Machine
- Grosvenor Estate (Archived 26 May 2017 at the Wayback Machine) – parent company of Grosvenor Group