One of Britain’s oldest and largest property companies could take advantage of a market downturn and invest in high street shops after building up a £1.7bn war chest.
Grosvenor, which owns £7bn of assets worldwide, said that it had increased its financial firepower by more than 20% last year with an eye on buying more property and financing a £4bn development pipeline.
The company holds property for the Duke of Westminster, who at 28 is Britain’s youngest billionaire. Grosvenor is best known for its vast estate in London, which includes 300 acres in Mayfair and Belgravia, but it also owns and manages property in more than 60 cities worldwide, from Tokyo to Washington.
