Grosvenor completed 58 retail, hospitality and office leasing deals across assets in Mayfair and Belgravia in H1 2026.
During the period, 37 new leases were agreed with a further 21 lease renewals completed on more than 80,000 sq ft of space, securing £5.4m in annual rent.
New leases were agreed at rents 9.4% above estimated rental value (ERV), while overall leasing activity, including new leases and renewals, achieved rents 7.8% above ERV.
Leasing activity was driven by continued demand for well-curated space in Mayfair, particularly among independent luxury, hospitality and wellness brands. FoundRae selected Mount Street for its first UK store, while skincare specialist Melanie Grant is preparing to open a new clinic at 129 Mount Street.
Grosvenor continued to invest in upgrading its estate in H1 2026 with Grosvenor Square reopening to the public on 20 July following a £25m transformation, and South Molton is on track for completion next year, delivering 267,000 sq ft of premium office space. In Belgravia, public realm works have also commenced on Eccleston Street and are due to complete by the end of the year.
Amelia Bright, executive director of the London estate at Grosvenor, said: “Our strong performance so far this year reflects the value of a long-term approach to stewardship. We actively shape and curate our neighbourhoods, bringing together the right mix of retail, hospitality, workspace and public realm to create places where people and businesses want to be. The strong demand we’re seeing, reflected in our leasing performance, is a direct result of that approach. We’re also seeing more leading international brands choose Mayfair and Belgravia for their first UK locations, reinforcing both the appeal of our neighbourhoods and London’s global reputation.
“Mayfair and Belgravia are part of what makes London one of the world’s great cities, and we’re proud of the role we play in helping them evolve. By continuing to invest for the long term, we’re ensuring these neighbourhoods remain vibrant, attract businesses, talent and visitors, and continue to thrive for generations to come.”
