Grosvenor targets residential property projects - Telegraph
Grosvenor, the Duke of Westminster’s £10bn property empire, has become renowned for major regeneration projects, such as Liverpool One, during the past few years, but its annual results on Tuesday will show that residential projects now dominate its development pipeline. Prime residential property in central London is in heavy demand, with overseas buyers snapping up the limited stock on offer such as apartments at One Hyde Park.
Grosvenor has amassed a development pipeline of more than £500m in its Belgravia and Mayfair estates in London, including 17 ultra prime apartments at 3-10 Grosvenor Crescent in Belgravia, which were secured from Royal Bank of Scotland and will be sold for millions of pounds.
It is also in talks about a £50m deal with joint venture partner Native Land to buy the 100,000 sq ft Alpha Place development in Chelsea out of receivership, where it could develop 25 luxury apartments, and is on the shortlist to develop a housing scheme in Oxford.
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