29 October 2020
Grosvenor To Invest In Tenant Growth
Grosvenor Britain & Ireland is looking to selectively invest in tenants to help them pivot their business’ and grow post pandemic.
Grosvenor hosts around 500 retailers and food and beverage operators in its properties in Mayfair and Belgravia and about 2/3 of its retailers are independent or smaller businesses.
Since lockdown started, Grosvenor has acted flexibly and creatively to support tenants in a variety of ways. This includes waiving the rent between April and June for hundreds of retail, charity and food and beverage tenants and our own extension of the Eat Out to Help Out scheme in September.
By investing selectively in tenants with new business ideas, and sound diversification and growth strategies, Grosvenor is taking a confident, long-term view on the success of Central London at a time when the market is at its most uncertain.
James Raynor, CEO, Grosvenor Britain & Ireland commented
“We have many tenants with exciting ideas to pivot and grow their business, but which require capital to push their strategies forward.
“By backing tenants we’re trying to re-write what it means to be a landlord, creating partnerships where each side is genuinely invested in the others’ success. Through long-term investments we can help these businesses adapt their strategy and grow.”
Grosvenor is not commenting on specific talks underway or the total amount of investment expected to be made over time.
About Grosvenor Britain & Ireland
Grosvenor Britain & Ireland creates great places where communities, business and nature thrive.
We are part of a global property business that has been developing and managing land and property for over 340 years.
Our heartland is in London’s West End, where we support 9,000 residents, c1000 businesses and 50,000 workers every day. We also create and manage sustainable new neighbourhoods in London and across the South of England. We think long-term and give equal weight to the social and commercial impact of everything that we do.
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Linkedin: Grosvenor Group