\nThe Duke owned swathes of prime London real estate, as well as property overseas, including Asia
\nThe Duke of Westminster. Image credit: wikimedia
\nThe Duke of Westminster, Britain\u2019s wealthiest landowner has died at the age of 64.
\nGerald Cavendish Grosvenor owned large parts of prime real estate in London\u2019s Mayfair and Belgravia and played a key role in the London property market.
\nHe was taken ill suddenly at his Abbeystead estate and died on Tuesday afternoon.
\nThe 6th Duke of Westminster owns 190 acres in Belgravia, an area adjacent to Buckingham Palace.
\nThis year\u2019s Sunday Times rich list placed him in sixth place in the UK, with his wealth estimated at \u00a39.35bn. He was the UK\u2019s wealthiest native-born person.
\nHe was reported to have increased his wealth last year by \u00a337.7m as his property empire paid its first dividend since 2010.<\/p>\n
More: What the Bank of England\u2019s interest cut means for Asian investors
The Duke owned swathes of prime London real estate, as well as property overseas, including...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-22462","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-5Qi","jetpack-related-posts":[{"id":22538,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/duke-of-westminster-dies-aged-64-britains-third-richest-man-had-strong-uae-ties\/","url_meta":{"origin":22462,"position":0},"title":"Duke of Westminster dies aged 64: Britain's third richest man had strong UAE ties","date":"August 10, 2016","format":false,"excerpt":"\r Britain's wealthiest landowner, the Duke of Westminster, has died aged 64.Gerald Cavendish Grosvenor, Britain's third richest man, died late on Tuesday in Lancashire after being taken ill suddenly on his Abbeystead Estate near Lancaster.The sixth Duke, who was ranked 68th richest billionaire in the world by Forbes with a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":136078,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/duke-of-westminster-the-london-property-baron-born-with-longest-silver-spoon\/","url_meta":{"origin":22462,"position":1},"title":"Duke of Westminster: the London property baron born with \u2018longest silver spoon\u2019","date":"April 25, 2023","format":false,"excerpt":"\r Dynasty set to expand as Hugh Grosvenor, described as UK\u2019s \u2018most eligible bachelor\u2019, announces engagement to Olivia HensonDuke\u2019s property firm pays \u00a350m dividend despite profits dropThe Duke of Westminster, Hugh Grosvenor, was famously described by his father as being \u201cborn with the longest silver spoon anyone can have\u201d.Grosvenor, 32,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":22436,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/duke-of-westminster-dies\/","url_meta":{"origin":22462,"position":2},"title":"Duke of Westminster dies","date":"August 10, 2016","format":false,"excerpt":"\r Billionaire landlord of much of Belgravia taken ill suddenly\r \r Source : ft.com\r Read more...Duke of Westminster dies","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":22644,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/inheritance-tax-why-the-new-duke-of-westminster-will-not-pay-billions\/","url_meta":{"origin":22462,"position":3},"title":"Inheritance tax: why the new Duke of Westminster will not pay billions","date":"August 11, 2016","format":false,"excerpt":"\r The fact that Hugh Grosvenor\u2019s estate is held in a trust means that his \u00a39bn inheritance is likely to remain largely intactHad the Grosvenor estate bequeathed to the new Duke of Westminster been liable for 40% inheritance tax, the amount owed to the Treasury would have been not far\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":115646,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/duke-of-westminster-donates-12-5m-to-nhs-coronavirus-fight\/","url_meta":{"origin":22462,"position":4},"title":"Duke of Westminster donates \u00a312.5m to NHS coronavirus fight","date":"April 16, 2020","format":false,"excerpt":"\r Gift equates to just 0.1% of Hugh Grosvenor\u2019s wealth, say inequality campaignersCoronavirus \u2013 latest updatesSee all our coronavirus coverageThe Duke of Westminster, the UK\u2019s second richest person with an estimated \u00a310bn fortune, is donating \u00a312.5m to the fight against the coronavirus pandemic after being \u201chumbled\u201d by the dedication of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":57922,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/duke-of-westminsters-property-group-to-build-1500-rental-homes-in-london\/","url_meta":{"origin":22462,"position":5},"title":"Duke of Westminster's property group to build 1,500 rental homes in London","date":"June 15, 2017","format":false,"excerpt":"\r Grosvenor Group plans to build 11 blocks on 12-acre site of former biscuit factory in Bermondsey, south-east London, aimed at lower and middle income workersThe Duke of Westminster\u2019s property group is to build 1,500 rental homes in south-east London, one of the capital\u2019s biggest \u201cbuild to rent\u201d developments.The proposed\u2026","rel":"","context":"In "Property 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\nFollowing the UK\u2019s decision to leave the European Union, Grosvenor suffered a loss of \u00a3727m, according to Bloomberg\u2019s billionaire index. The UK\u2019s richest individuals are said to have lost \u00a34bn in total as a result of the Brexit vote.
\nHis family company, Grosvenor Group, traces back to 1677 where his ancestors purchased 500 acres of \u201cswamp, pasture and orchards,\u201d in England.
\nThe company has since acquired land all over the world, including in Asia, with Grosvenor Asia Pacific headquartered in Hong Kong.
\nDevelopments include The Westminster Terrace, an award-winning, 33-storey development comprising 59 four-bedroom duplex apartments in one of Hong Kong\u2019s most unique locations.
\nThe dukedom will now pass to his only son Hugh.
\nRead next: Post-Brexit: UK real estate firms are targeting Chinese investors
\n
\nSource : property-report.com
\nRead more…Britain\u2019s wealthiest landowner, the Duke of Westminster, has died<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"