Grosvenor Britain & Ireland has launched a new Investment team, which will actively manage a £1 billion UK property portfolio, comprising newly acquired and existing assets and projects outside of Mayfair and Belgravia. It also aims to target office, retail and residential opportunities.
Managed by Rachel Dickie, the team is set to deploy an initial £300 million of equity into income-producing assets with an aim of enhancing their environmental, social and commercial performance and build scale in new markets.
In June, Grosvenor, which manages Liverpool One, completed its first acquisitions under the new strategy: 134 Edmund Street, an 85,000 sq ft office building in Birmingham’s central business district, and The Hive, an 80,000 sq ft office building in Manchester’s Northern Quarter.
Rachel Dickie, executive director – Investment, Grosvenor Britain & Ireland said “We intend to further expand our presence regionally over the next year, deploying capital quickly. Our investments in Birmingham and Manchester are indicative of the type and scale of investments we will make.
“Our core expertise lies in collaboratively designing and managing mixed-use urban neighbourhoods that stimulate community success and lead the way in tackling climate change. We’ve proven this across London, the south-east and in Liverpool.
“By further scaling our investment across the UK alongside partners we have an enormous opportunity to apply our skills and financial capacity to help urban centres adapt and succeed.”