Grosvenor Britain & Ireland has announced plans to invest between £10m and £30m in housing and retail repurposing with a particular focus on Greater Manchester, Merseyside, and Liverpool.
GBI plans to work with local specialists to source co-funding opportunities, with a particular focus on residential-led schemes, including senior living and mixed-use opportunities. Other sectors it will be targeting include retail repositioning on high streets and retail parks.
The investments, which are to take between 12 and 18 months, are to be identified and delivered by GBI’S Grosvenor Developments team, which manages activity outside of London.
To support this programme, Grosvenor has appointed Arrif Ali as a director of new business in the Grosvenor Developments team. Ali was previously a principal at investment firm Cain International and a manager at Herron International. He will lead strategy development and delivery of all investment opportunities.
On his appointment, Ali has said: “With this strategy we have an open mandate to pursue opportunities that align with our values and expertise as a business and where we can make a meaningful contribution to community outcomes beyond co-funding. Our decisions will be both based on the quality of the partner as well as the opportunity.”
Jorge Mendonça, executive director at Grosvenor Britain and Ireland, said: “We need to continue to invest more in homes and new places that support jobs, economic growth and wellbeing. However, significant projects require well-funded long term investors able to see through economic cycles, and with an ingrained partnership approach; all of which Grosvenor has an exceptional track record in.
“Focussing on partnership opportunities in the regions which address some of the most significant gaps in the UK’s real estate sits well with our ethos and purpose as a business.”