Grosvenor restructures UK property team

Grosvenor’s UK property business is merging its investment and development teams, bringing them under the leadership of Rachel Dickie. Dickie, who joined Grosvenor in 2020 from Legal & General Capital to build diversification within the business by both geography and sector, will take on the expanded role from 1 April and will now be responsible for a team of around 35. Grosvenor said it was bringing the two teams together to better support its growth ambitions for its regional investment and development strategy. The combined portfolio includes the 2.5m sq ft Liverpool One shopping centre, which Grosvenor manages and part owns, plus a 500,000 sq ft regional office portfolio. Under Dickie, Grosvenor has also established a residential debt strategy, deploying £112m of its own capital into seven projects, and has launched a £100m joint venture with insurance company Generali to support housing delivery across England. Dickie, who will become executive director, investment and development, will continue to manage those investments as well as Grosvenor’s development pipeline, which includes the £500m South Molton project in London’s West End. Grosvenor Property UK chief executive James Raynor said: “We have an ambitious growth strategy and by consolidating two teams where we will be investing significant capital under Rachel Dickie’s leadership, we are bringing together some fantastic expertise that will greatly benefit our activity in the regions and in London.” As a result of the merger of the teams, executive director of development Anna Bond has decided to leave the business. Bond has spent some 16 years at Grosvenor, leading on major projects including securing planning permission for the 376,000 sq ft South Molton scheme and completing nearly 300,000 sq ft of sustainable development in 2023 alone, including 65 Davies Street, W1. Raynor said: “In her time at Grosvenor, Anna has delivered a hugely successful development programme and made a significant and positive contribution to the business. We wish her all the best for the future.” Rachel Dickie © Thomas Graham