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Duke of Westminster to sell £700million of inherited property empire amid major losses
May 11, 2026
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The Duke of Westminster Hugh Grosvenor is set to sell £700million of his family's 340-year, £8.2billion property empire amid growing losses.The billionaire's property company, the Grosvenor Group, which is headquartered in Mayfair and controls substantial swathes of prime London real estate, revealed they are looking to sell US assets.The company recorded losses of £108million in North America during 2025, contributing to a total worldwide revenue decline of £23.2 million.Chief executive James Raynor indicated the US portfolio would be sold over a period of time, with the group emphasising there was no urgency to complete transactions quickly.
TRENDING Stories Videos Your Say The company's partnership investments target diverse real estate categories, including purpose-built student accommodation, rental housing developments and logistics facilities.Mr Raynor explained that indirect investments offer greater flexibility, with typical timelines of four to five years compared with decades-long horizons for directly owned properties.The strategic overhaul accompanied results showing underlying profits of £70.5million for Grosvenor's international urban property division in 2025, representing an 18 per cent decline from the previous year.North American performance weighed heavily on these figures, with the company taking writedowns on development sites in both Vancouver and the United States.We felt that the right way was to mark those as accurately as we can, Mr Rayner stated. It sets us at the right base, frankly, to move forward, because I think there's still really good projects in them.The domestic picture presented a markedly brighter outlook, with Grosvenor's UK property arm delivering underlying profits of £88.7million for 2025, a 14 per cent improvement on the prior year.London proved particularly robust, with the company achieving an occupancy rate of 97 per cent across its capital holdings.LATEST ROYAL NEWSAndrew could keep his place in the Royal Family's line of succession for another yearDuchess of Edinburgh honours fallen cavalry soldiers at Hyde Park memorial servicePrincess Eugenie 'reached out to King Charles after Zara Tindall's advice'The Grosvenor Group was founded by Hugh's ancestor, Sir Thomas Grosvenor, 3rd Baronet, in the 1600s.Hugh, 35, took control of the empire in 2016 when his father, Gerald Grosvenor, died unexpectedly from a heart attack.Becoming the Chair of the group, the duke topped The Sunday Times 40 Under 40 Rich List with his net worth of over £10billion.Hugh married senior account manager Olivia Henson in 2024, in a star-studded, high-profile wedding that saw the likes of Prince William and Princess Eugenie in attendance.A year after the wedding, the couple welcomed their first child together, Lady Cosima Florence Grosvenor.With the dukedom of Westminster only able to be passed down the male line, it is currently without an heir.Our Standards: The GB News Editorial Charter
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