Grosvenor has reported strong leasing activity across its portfolio in the first half of 2026 as demand remained strong for premium office, retail and hospitality space across Mayfair and Belgravia.
The Duke of Westminster’s property company completed 58 leasing deals in H1, totalling more than 80,000 sq ft and £5.4m in annual rental income.
The 37 new leases and 21 renewals were achieved at rents 9.4% above estimated rental value, while leasing activity outperformed expectations by 7.8%.
Grosvenor reported portfolio occupancy of 97%, with retail vacancy standing at just 2.6%, far below the wider 12.2% West End rate.
Amelia Bright, executive director of the London estate at Grosvenor, said: “Our strong performance so far this year reflects the value of a long-term approach to stewardship.
“We’re also seeing more leading international brands choose Mayfair and Belgravia for their first UK locations, reinforcing both the appeal of our neighbourhoods and London’s global reputation.
“Mayfair and Belgravia are part of what makes London one of the world’s great cities, and we’re proud of the role we play in helping them evolve. By continuing to invest for the long term, we’re ensuring these neighbourhoods remain vibrant, attract businesses, talent and visitors, and continue to thrive for generations to come.”
In May, Grosvenor’s trading update for 2025 revealed a 14% rise in underlying profits to £88.7m, as the UK property business excelled, balancing out “disappointing” results in North America, where the business recorded a £108.3m revenue loss.
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