The Duke of Westminster’s property business Grosvenor Group paid out £51.1 million in dividends in 2023, despite the business recording a loss as the value of its portfolio slid in a “challenging” year.
Grosvenor made a £28.6 million loss, due to a £56.7 million hit on the revaluation of its properties. Its operations were profitable, however, as the business recorded a ‘revenue profit’ of £41.5 million, down by a fifth, on net property income of £239.3 million.
