Grosvenor Group blames impact of Covid-19 for pre-tax loss of £311m, its worst performance since 2008
The Duke of Westminster’s property company, Grosvenor Group, swung to a pre-tax loss in 2020, its worst performance since 2008, but still paid a £47m dividend to the duke’s family and its trusts.
The privately-owned group, which includes some of the most famous addresses in Mayfair and Belgravia in London, reported a £311m pre-tax loss last year, compared with a pre-tax profit of almost £157m in 2019, as it recorded a slide in the value of its global property portfolio and gave rent reductions to some of its tenants during the pandemic.
