Updated 12:55am 26 May 2012

Duke of Westminster in talks with banks over retail slump

The Duke of Westminster

“It was at our suggestion and we have been in dialogue about initiatives ever since then. We can understand investors’ frustration at the performance not just of our funds but of all property funds.”

Although the Duke owns a country estate in Cheshire and valuable land in London’s Mayfair and Belgravia, Grosvenor borrowed money to co-invest in a variety of assets, including shopping centres and offices.

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