Latest news with #Grosvenor
News.com.au
12 hours ago
- Business
- News.com.au
Second edition of Forest Jim seeks blowout win in city debut at Flemington on Saturday
Mornington trainer Cliff Brown joked that Saturday's Flemington hopeful Forest Jim showed his age. Brown would be one of the few trainers in Australia to have prepared two horses with the same name at different times. • PUNT LIKE A PRO: Become a Racenet iQ member and get expert tips – with fully transparent return on investment statistics – from Racenet's team of professional punters at our Pro Tips section. SUBSCRIBE NOW! Brown trained the original Forest Jim to a debut win at Bendigo in November 1999 while winning a maiden at the same track with the latest edition last month. Australian racing rules state, in order to reuse a horse name, 17 years must pass after the birth of a horse with the same name or 20 years after the birth of the youngest progeny of a horse with the same name. The Mornington-based horseman said seven-time Melbourne Cup-winning owner Lloyd Williams bought the previous Forest Jim, a New Zealand-bred son of staying influence Grosvenor. 'I think it's very sad that it shows my age,' Brown said. 'The other one was a very good horse. 'He had one start for his original owners for one win and they wanted to sell him so Lloyd bought him. 'There was a group of Singaporean guys that owned him and one of them, Mr Yong, his son races this Forest Jim.' The latter incarnation of Forest Jim is a son of Vancouver that will have his sixth start in the Darren Galley Mile (1600m) at Flemington. Bookmakers have Forest Jim at big odds but Brown said he needed to see where the gelding sat in the Melbourne metropolitan ranks after starting his career at the provincials. • 'We'll just see where he's at,' Brown said. 'He's progressive and I think he'll enjoy a wet track. 'It looks a strong field, maybe too strong but, if the rain came, we'd certainly see how they went. 'He'd been pretty unlucky at his previous two runs so he's doing a pretty good job.' Brown will watch Saturday's Flemington race from Brisbane where he will saddle Scintillate and Rogan in the rescheduled Queensland Derby. The pair last raced on May 3, which Brown said disadvantaged Scintillante and Rogan when the Queensland Derby was postponed for a week. 'I know it's only a week but it does change the dynamic of the races,' Brown said. 'When you've gone an extra week and they're five weeks between runs, it just makes it a little bit harder. 'If I was a betting person, I'd think the winner would now come out of the Rough Habit Plate because that was a tough track and they've now had an extra week to get over it. 'I think that could be the form race. 'I'd be pinching it if I won it.'
BBC News
3 days ago
- Lifestyle
- BBC News
Grosvenor Square in Mayfair to become wildlife haven
A central London square is to undergo a "radical reimagining" with the planting of 80,000 bulbs, 44 trees, wetlands and 70,000 aim is to make Grosvenor Square in Mayfair "a place for visitors and residents to reconnect with nature".The revamp of the area, known for being the former location of the US embassy, will be paid for by Grosvenor, a property company owned by the Duke of Westminster and his is due to open in summer 2026 and will be "the largest private investment in public green space in the West End for a generation", Grosvenor said. It will be the fourth redesign of the square in its 300-year history and is intended to pay homage to the original 1720s design, reinstating an oval shaped lawn, framed by a new footpath and a surrounding woodland Nigel Dunnett, who is leading the square's transformation, said swapping grassland for flowering lawns and new woodland plantings beneath the London Plane trees would create new wildlife havens and gardens "that will look fantastic year-round". Grosvenor Square was the location of the US embassy from 1912 to 2017 and became well-known for a number of protests held square has long associations with the US. The country's first ambassador to Britain, John Adams, lived in the square from 1785 to 1788. He later served as the second president of the United States. Grosvenor Square is also home to the UK memorial to the British victims of the 9/11 attacks on New York and Washington in 2001. The memorial will be retained in the new version of the square. Alex Clarke OBE a September 11 family member, said the Memorial Garden in Grosvenor Square "has been a highly valued place of peace and remembrance for the families of the 67 British victims of the September 11 attacks".He said he was "thrilled that the square is set to become a place of natural tranquillity".Mr Clarke added: "Its rich landscape and birdsong will enhance the memorial's setting and offer a calming retreat from the hubbub of daily life." The Duke of Westminster said the transformation had been shaped by more than 7,000 people who shared their ideas and voted on the design, and he was "deeply grateful" for community support for the plans. He said: "Our ambition is for Grosvenor Square to once again become a treasured green space for everyone to enjoy and where people of all ages can reconnect with nature in the heart of the city. "Through an innovative and ambitious approach to planting, we are championing sustainability and climate-adaptation."
Yahoo
3 days ago
- General
- Yahoo
Mayfair's Grosvenor Square to close for more than a year for 'radical' garden makeover
One of the West End's biggest green open spaces is to be shut for more than a year from next week as work starts on a massive overhaul. Mayfair's Grosvenor Square, a green oasis used by thousands of office workers, residents and visitors, will be shut for what landlords describe as 'the largest private investment in public green space in the West End for a generation.' The 'radical reimagining' of central London's second largest square - after Lincoln's Inn Fields - follows designs from London architecture practice Tonkin Liu. The square will close on Sunday 8th June for work to begin on Monday 9th June. The work is expected to take around 13 months to complete with a reopening in summer 2026. The project forms part of the vision of aristocratic landowner Grosvenor - the Duke of Westminster's family business - to 'reanimate' the elite neighbourhood by drawing in more local Londoners and visitors. There has also been concern about the lack of biodiversity in the square, which is dominated by grassy lawns and London Plane trees It is the fourth redesign of the square in its 300-year history and is said to 'pay homage to the original 1720s design', reinstating an oval shaped lawn, framed by a new footpath and a surrounding woodland garden. The redesigns will feature around 70,000 new plants, 44 new trees, new wetlands and c. 80,000 new bulbs, increasing planting from 140 m sq to 8,000 m sq, creating a haven for wildlife and new habitats. The transformation is being led by horticulturalist Professor Nigel Dunnett, known for urban green projects, including the Tower of London Superbloom and the Queen Elizabeth Olympic Park. He will be working along side ecologist Gary Grant and BDP Architects. The address has long links with the USA dating back to 1785 when John Adams, the first US Ambassador lived on the Square. This connection continued through the Second World War, where it was home to General Eisenhower's HQ, becoming known as 'Little America' due to the thousands of US military personnel working in nearby offices. In 1960, the US opened its first purpose-built embassy building, designed by modernist architect Eero Saarinen, at the west side of the square. With its distinctive gilded eagle on the roof, the building became a Cold War landmark, hosting generations of diplomats and playing a key role in U.S.-U.K. relations until it relocated to Nine Elms in 2018. It was the scene of clashes between anti-Vietnam demonstrators and the police in 1968. The former embassy building is reopening as the Chancery Rosewood hotel in September. The Square features memorials to Franklin D Roosevelt, the Eagle Squadrons and a garden of remembrance commemorating the 67 British victims of the September 11 attacks in 2001. Over 7,000 people fed into the designs, which included a public vote to select flowers for the garden. Responding to this, primroses, bluebells and honeysuckle will feature prominently as part of the 80,000 new bulbs set for the square, creating a 'carpet of colour' for months throughout the year. The redevelopment includes a new education building, where programmes funded by The Westminster Foundation will offer opportunities for children and adults to learn about biodiversity, the environment, climate change and the square's history. Providing further community benefits, a new kiosk serving refreshments, public toilets and 300 additional places to sit will be provided. There will also be additional CCTV and new lighting installed that will enable the square to provide a safe environment and the square to stay open later into the evening. Earlier and even more radical plans for the revamp included a cavernous subterranean water garden up to 50 metres across. The Duke of Westminster said: 'Our ambition is for Grosvenor Square to once again become a treasured green space for everyone to enjoy and where people of all ages can reconnect with nature in the heart of the city. Building on its long history, this revitalisation will breathe new life into the square for current and future generations. From increasing biodiversity to creating new opportunities for learning and education, the transformation has been shaped by the thousands who shared their ideas and voted on the design. We're deeply grateful for the community's support.' James Raynor, CEO, Grosvenor Property UK said: 'Grosvenor Square will be one of the world's most outstanding and innovative urban green spaces, responding to the climate emergency whilst inspiring joy, delight and wonder.' 'This voluntary investment for the benefit of the public epitomises our unique role as custodians and long-term stewards of Mayfair. It is testament to our commitment to placemaking, environmental leadership and community engagement, and will ensure Mayfair remains a pre-eminent place to visit, live and work.' Mayor of London, Sadiq Khan, said:'As the world's first National Park City, it's great that a new green haven is being created in Grosvenor Square in the centre of London where wildlife will be able to thrive. 'This private investment is fully aligned with our ambitious London Growth Plan and will lead to a transformation that will blend beauty and biodiversity to create a place for visitors and residents to reconnect with nature. 'I look forward to seeing the transformation of Grosvenor Square into another of London's world-leading urban green spaces as we continue building a greener, more prosperous London for all.' Lucy Puddle, Project Director, Grosvenor said:'Our investment in Grosvenor Square epitomises our unique role as custodians and long-term stewards of Mayfair. It is testament to our commitment to placemaking, environmental leadership and community engagement, and will ensure Mayfair remains a pre-eminent place to visit, live and work, not just for this generation, but for those to come.' Nigel Dunnett, Professor of Planting Design and Urban Horticulture, University of Sheffield said: 'We are looking to set a new standard for biodiverse public spaces in the capital, bringing the exuberance of a rich natural environment into a London square in a way that hasn't been done before.' 'Through an innovative and ambitious approach to planting, we are championing sustainability and climate-adaptation, swapping low diversity amenity grassland for sparkling flowering lawns, and creating extensive areas of new woodland plantings beneath the existing London Plane trees, to create new wildlife havens and gardens that will look fantastic year-round.' Alex Clarke September 11 family member said: 'For many years, the Memorial Garden in Grosvenor Square has been a highly valued place of peace and remembrance for the families of the 67 British victims of the September 11 attacks.' 'As a family member, a passionate amateur gardener and former Grosvenor Square volunteer, I'm thrilled that the square is set to become a place of natural tranquillity. Its rich landscape and birdsong will enhance the memorial's setting and offer a calming retreat from the hubbub of daily life.' Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
28-05-2025
- Business
- Yahoo
Mayfair landlord Grosvenor delivers rise in profits to £86.4 million
The Duke of Westminster's family business Grosvenor, owner of swathes of Mayfair and Belgravia, has reported a sharp rise in profits. But the boss of the 350 year old privately owned property company of a possible further fall in London commercial property values this year if interest rates continue to stay higher because of inflation. The business, one of central London's biggest landlords with a total of around 300 acres, also revealed that it paid a record £52.4 million dividend to its shareholders, UK trusts set up for the benefit of the Grosvenor family. Underlying profits in 2024 rose 16.5% from £74.1 million to £86.4 million, a performance CEO Mark Preston described as 'solid' in a challenging market. The occupancy rate was 97% up from 95%. The more volatile revenue profit measure, which includes one-offs such as development sales, almost doubled to £82.1 million. The value of the London portfolio, which includes landmarks such Grosvenor Square and Belgrave Square, rose 3.3% to around £4.5 billion, with offices and retail up 2.6%, retail rising by 4.4% and hotels by 10%. The London portfolio accounts for around 90% of Grosvenor's UK property holdings. Globally Grosvenor's properties were valued at £8.2 billion, down from £8.6 billion in 2023 and a peak of £9 billion in 2022. Grosvenor's main London development South Molton, is the West End's largest mixed-use scheme. Preston said there were 'good early signs' of strong demand from occupiers Over recent years Grosvenor's London team have been focussed on 're-animating' Mayfair and Belgravia, two exclusive districts that critics said exemplified a 'lights out London' rarely visited by locals. Earlier this year Grosvenor sold a 25% stake in a £1.2 billion portfolio of Mayfair properties estate to the Norwegian sovereign wealth fund Norges Bank Investment Management . The portfolio of 175 buildings around Mount Street and Grosvenor Street included the Connaught hotel. CEO and executive trustee Mark Preston, said: 'Against a challenging year for the global economy, marked by mediocre growth and rising geopolitical tensions, our business has delivered a strong set of financial results. 'New joint ventures with Norges in our Mayfair portfolio and with a Canadian pension fund and family office in Vancouver will help us to sow the seeds of future growth. 2The injection of fresh capital will enable us to further invest in the long-term success of London's West End and deliver a significant portion of over 6,100 homes we plan to create in North America. Grosvenor also announced a leadership shake up with James Raynor appointed to the role of Grosvenor Property CEO, with responsibility for the international property business. He will retain his current role of CEO of Grosvenor's UK property business until a successor is in place. Debbie Lee is also appointed Grosvenor's CFO, succeeding current CFO Rob Davis, from July 2026.
Yahoo
28-05-2025
- Business
- Yahoo
‘Nonsense and stupid': Trump's tariff war will cause global damage, says Grosvenor boss
Donald Trump's global tariff trade war is 'nonsense and stupid' and will damage every country in the world, including the US, the boss of one of Britain's most powerful property companies has said. Mark Preston, chief executive of the 348-year-old Grosvenor Group, controlled by the Duke of Westminster, said he was 'convinced' that the president's sweeping tariff policies would ultimately be removed. The head of the multibillion-pound company, which owns swathes of Mayfair and Belgravia in central London, said Trump's trade war had not 'materially' affected the business but suggested it was causing significant wider economic damage. 'It is entirely negative for everybody, including the United States,' Preston said. 'But, at the same time, I'm so convinced that it's nonsense and stupid that eventually that'll become obvious and it'll right itself. 'And therefore, as a long-term organisation we're not jumping up and down and panicking about it.' The executive trustee of the company, which in addition to its London property portfolio has an international business ranging from housebuilding in North America to student accommodation in Brazil and Australia, said tariffs had 'fundamentally failed to work' in the past. 'It] ended up with the Gatt [general agreement on tariffs and trade],' he said, referring to the postwar deal involving the US and other major countries to reduce tariff rates to increase international trade. Preston's comments came as Grosvenor reported a jump in profits on the back of cost-cutting and higher rental growth, including from more companies moving into its office properties in central London. Underlying profits climbed by 16.5% to £86.4m last year, and the occupancy rate at its properties rose by 2% to 97%. Its UK offices were 97.5% full (99% in Mayfair), and its homes and shops were 95% occupied. The group paid out dividends of £52.4m to the duke's family and its trusts, up from £51.1m in 2023. Owned by the duke, Hugh Grosvenor, 34, one of Britain's richest men and godfather to Prince George, the company paid taxes of £107.4m globally, including £71.7m in the UK. This compares with £112.2m global taxes in 2023, including £61.9m in the UK. Amid a return to office-working after the height of the Covid pandemic, Preston said that hybrid working was here to stay, but that he would not put money on it. 'It feels like a new normal is being found, with people coming back a bit more to the office environment, but not five days a week. 'We've actually been the beneficiary of companies who, perhaps historically, wouldn't have taken space in this part of London … now wanting smaller space and being prepared to pay pretty good rents for all these additional amenities which we can provide.' Sign in to access your portfolio
