Grosvenor Liverpool Fund named MSCI’s top Unlisted Specialist Fund of 2019


The Grosvenor Liverpool Fund, managed by Grosvenor Europe (Grosvenor) has been named the top Unlisted Specialist Fund of 2019 in MSCI’s annual UK and Europe Property Investment Awards.

Its performance was recognised despite the widely reported challenges experienced by the retail sector. The achievement reflects Grosvenor’s successful active asset management approach at Liverpool ONE, which focuses on attracting top brands and independents, fostering a lively dining and leisure scene, as well as establishing a strong enlivenment programme. 

In 2019, cult beauty brands Morphe and Too Faced and fashion icon Kate Spade joined the retail line up, while the enlivenment programme included the unique Dinosaurs Unleashed virtual reality app, allowing visitors to hatch dinosaurs across the estate, the ‘Summer of Champions’ grassroots sporting activities campaign, ‘In Bloom’ seating installations and the annual ‘Tickle the ivories’ piano busking festival. These initiatives continue to engage visitors, drive footfall and support sales, enabling Liverpool ONE to outperform its peers.

While the award commends performance for the three years to the end of 2019, Liverpool ONE continues to perform well in 2020, bucking post-lockdown regional and national trends across retail, leisure and dining. Latest performance figures shows footfall at 86% of the volumes experienced this time last year, and sales at 88%, with both figures exceeding UK averages by 7% and 10% respectively.

Similarly, Liverpool ONE’s restaurant operators are thriving since re-opening, with sales surpassing the same period in 2019. The government’s ‘Eat Out to Help Out’ scheme has helped to drive sales 53% higher than 2019 from Monday to Wednesday, as well as positively impacting turnover for the rest of the week, which sits at an average of 10% higher than last year. Dining performance has also benefitted from Liverpool ONE’s involvement in the city’s £450,000 ‘Without Walls’ initiative, which has provided additional external alfresco covers for visitors. Following this success, a number of operators are planning to offer independent incentive schemes from September onwards.

The destination’s strong performance figures reflect a persistent upward trend. Since Liverpool ONE’s phased reopening strategy began, visitor spend has increased by approximately 10% and conversion is 12% higher than usual.

About the Awards

The awards recognise and celebrate the top performing funds across the real estate investment landscape and are based upon a robust and stringent set of criteria including independently verified direct real estate investment performance across more than 220 eligible UK portfolios and 550 European portfolios. Eligible funds were measured to December 2019 in accordance with MSCI’s Real Estate Enterprise Analytics. 

About MSCI

MSCI is a leading provider of critical decision support tools and services for the global investment community. With over 45 years of expertise in research, data and technology, we power better investment decisions by enabling clients to understand and analyse key drivers of risk and return and confidently build more effective portfolios. We create industry-leading research-enhanced solutions that clients use to gain insight into and improve transparency across the investment process. To learn more, please visit www.msci.com.

 

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