Mayfair landlord Grosvenor delivers rise in profits to £86.4 million

Grosvenor is working on a major overhaul of Mayfair landmark Grosvenor Square - (Handout)

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.