The real estate firm of Duke of Westminster undertakes to build 30,000 homes by 2023
City & Finance Reporter for the Daily Mail
The real estate firm of the Duke of Westminster has pledged to build 30,000 homes by 2023. Grosvenor, the 340-year-old owner of Mayfair and Belgravia, wants to control new communities in Great Britain.
It will work with developers, councils and landowners to merge large locations between 2,000 and 5,000 homes and to finance the costs of infrastructure such as schools and roads in exchange for fees later.
Progressive thinking: Grosvenor, the 340-year-old owner of Mayfair and Belgravia, wants to master new communities in Great Britain
It is a big change for Grosvenor, which has focused on property management and investment.
A spokesman said it would want to manage all phases of development, from planning proposals to construction.
Jorge Mendonça, executive director of Grosvenor Developments, said: & # 39; There is a growing recognition from the government that the role of "main developer" could be the best way to deliver new homes. It requires well-funded, long-term investors with a deep-rooted partnership approach and considerable space-based expertise, which Grosvenor has all. & # 39;