6 August 2021
Grosvenor to expand UK regional footprint with £300 million investment strategy
New Investment team will target office, retail and residential opportunities
and manage existing assets in £1bn portfolio
Grosvenor Britain & Ireland has launched a new Investment team, which will actively manage a c£1 billion UK property portfolio, comprising newly acquired and existing assets and projects outside of Mayfair and Belgravia.
Managed by Rachel Dickie, the team will deploy an initial £300 million of equity into income producing assets where it can enhance their environmental, social and commercial performance and build scale in new markets.
In addition, the portfolio encompasses the management of Liverpool ONE, a 42 acre retail destination, and Grosvenor’s fast-growing master developer business, Strategic Land, which has a pipeline of c18,000 homes. It will also include phases of the Bermondsey development as they complete.
In June, Grosvenor completed its first acquisitions under the new strategy: 134 Edmund Street, an 85,000 sq ft office building in Birmingham’s central business district, and The Hive, an 80,000 sq ft office building in Manchester’s Northern Quarter.
Rachel Dickie, Executive Director – Investment, Grosvenor Britain & Ireland said “We intend to further expand our presence regionally over the next year, deploying capital quickly. Our investments in Birmingham and Manchester are indicative of the type and scale of investments we will make.”
Longer-term, the team will invest alongside public and private sector partners in sustainable mixed-use neighbourhoods in urban centres, where Grosvenor can make a meaningful contribution to community success and local environmental ambitions.
Rachel Dickie, added: “Our core expertise lies in collaboratively designing and managing mixed-use urban neighbourhoods that stimulate community success and lead the way in tackling climate change. We’ve proven this across London, the south-east and in Liverpool.
“By further scaling our investment across the UK alongside partners we have an enormous opportunity to apply our skills and financial capacity to help urban centres adapt and succeed.”
The work of the Investment team is guided by Grosvenor Britain & Ireland’s stretching environmental sustainability goals and commitment to community success.
Notes to Editors
About Grosvenor Britain & Ireland:
Grosvenor Britain & Ireland creates great places where communities, business and nature thrive.
In London’s West End, we support c11,000 residents, c1,000 businesses and c60,000 workers every day. We also create and manage sustainable neighbourhoods in London, Liverpool and across the South East of England.
We are one part of a global, family owned business that has been developing and managing land and property for over 340 years. Thinking long term allows us to give equal weight to the environmental, social and commercial impact of everything that we do.
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GBI’s existing investment portfolio
Liverpool ONE is a highly successful and sustainable 42-acre retail and leisure destination. Grosvenor manages the asset and also has an investment stake. Grosvenor masterplanned this rejuvenation of Liverpool’s city centre, which is still one of the largest urban regeneration projects in the UK, helping to transform perceptions of the city over the past decade. Today it accounts for 50% of total retail provision in the city and attracts 29 million visitors annually.
Our Strategic Land team are master developers acting on behalf of landowners or as a co-investor to bring forward new communities in the UK. We support complex parcels of land through the planning system, design and build out process to create large scale sustainable communities.The team’s focus is on progressive and high-quality urban design solutions, sensitive to local communities and the environment.
The regeneration of this former biscuit factory will deliver 1,548 new rental homes – including 35% affordable - a new school, 5 acres of open and play space alongside c150,000 sq ft of employment space. Once complete, management of each phase of the development will transfer to GBI’s Investment team.
GBI’s Mayfair and Belgravia portfolio is managed by the London estate team, led by Amelia Bright.