Grosvenor Completes 58 Leasing Deals in Mayfair and Belgravia, Adding Sophie Breitmeyer, FoundRae, Roseberys, Onyx Matcha Club, Melanie Grant and Molly Alexander

Grosvenor completed or exchanged 58 mixed-use leasing transactions across its Mayfair and Belgravia portfolios in the first half of 2026, the firm announced Aug. 4, securing £5.4 million in annual rent across more than 80,000 square feet and maintaining portfolio occupancy at 97%. New leases were agreed at rents 9.4% above estimated rental value, while overall leasing activity — including 21 renewals — achieved rents 7.8% above ERV. Tenants including Sophie Breitmeyer, FoundRae, Roseberys, Onyx Matcha Club, Melanie Grant and Molly Alexander are among the brands taking space across the two neighbourhoods.

Leasing Performance and Market Context

Of the 58 total transactions, 37 were new leases spanning retail, hospitality and office uses, with the remaining 21 comprising lease renewals. Lettable retail vacancy across the portfolio stood at 2.6% at the close of the period, compared with West End retail vacancy of 12.2% as measured by MSCI's Q1 2026 data. Overall portfolio occupancy held at 97%.

The blended contracted rent across the 80,000-plus square feet implies an average in the range of £65 to £75 per square foot, though that figure reflects a mix of uses — prime retail on streets such as Mount Street will sit materially above that level, while office and upper-floor space will be lower. Achieving new leases nearly 10% above ERV indicates that scarcity on tightly held, curated streets is allowing Grosvenor to re-rate rents upward rather than simply filling vacant units.

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."

New Mayfair Tenants: FoundRae, Melanie Grant and Berenjak

In Mayfair, FoundRae selected Mount Street for its first UK store. The jewellery brand joins a retail parade characterised by low turnover and a tenant mix of fashion, jewellery, galleries and design concepts. Beth Hutchens, Founder and Creative Director of FoundRae, said: "Mount Street has a history of craftsmanship and quality dating back centuries, which felt like the right home for FoundRae's first international flagship. It is a street built on longevity rather than trends — exactly the values we want the brand associated with. Working with Grosvenor was a genuine partnership from the start — they understood what we were trying to build and helped us navigate the process with real care for getting the space right."

Skincare specialist Melanie Grant is preparing to open a clinic at 129 Mount Street, London W1K 3NZ, a period building on the south side of the street close to Carlos Place and Grosvenor Square.

Persian restaurant Berenjak opened on Duke Street in March, adding to the dining cluster that benefits from proximity to the Bond Street Elizabeth line station and spillover trade from Mount Street and Grosvenor Square. Berenjak joins Crisp, which opened at The Marlborough on North Audley Street in 2025 as part of a broader repositioning of that corridor following a £1.6 million public realm scheme delivered by Grosvenor in partnership with Westminster City Council. The works widened footways, improved pedestrian movement and extended the street's tree avenue.

Belgravia Additions: Sophie Breitmeyer, Onyx Matcha Club, Roseberys, Molly Alexander and Weezies

In Belgravia, jewellery designer Sophie Breitmeyer has recently opened at 36 Elizabeth Street, London SW1W 9NZ. On Motcomb Street, Onyx Matcha Club is due to open this summer at 13 Motcomb Street. Pimlico Road has attracted auction house Roseberys and antiques dealer Molly Alexander, reinforcing the road's position as a destination for interiors and design.

London Epicerie is set to launch at 65–69 Ebury Street, London SW1W 0NZ, a terrace block a short walk from Victoria and Eccleston Yards.

At Eccleston Yards, SW1W 9AZ — a mixed-use courtyard between Victoria coach and rail stations — Weezies opened in April. The restaurant comes from the team behind neighbouring Amie Wine Studio. Will Sandbach, Co-Founder of Weezies and Amie Wine Studio, said: "Amie Wine Studio has grown organically year on year since we opened as a pop-up four years ago, so when the opportunity to open Weezie's came up, we knew we had to go for it. Eccleston Yards has such a unique, continental feel, and being minutes from Victoria makes it wonderfully accessible. Grosvenor have been brilliant partners throughout the leasing and fit-out process. Since opening in April, the response from customers has been incredible."

Long-Term Investment and Development Pipeline

Grosvenor has committed £1.7 billion alongside partners through to 2035 in support of the long-term development of its West End holdings. Grosvenor Square reopened to the public on July 20 following a £25 million transformation, which the firm described as the most significant private investment in public green space in the West End in a generation.

The South Molton development, located east of Grosvenor Square, is on track for completion next year and will deliver approximately 267,000 square feet of premium office space targeted at flight-to-quality office demand, with proximity to the Elizabeth line.

In Belgravia, public realm works have commenced on Eccleston Street and are due to complete by year-end, intended to improve pedestrian access to Eccleston Yards.

Grosvenor said the results reflect continued confidence in central London despite a more challenging backdrop for parts of the retail market, with demand concentrated in neighbourhoods able to offer a distinctive mix of retail, hospitality, culture and public realm investment.

Sources

Grosvenor — Strong occupier demand drives outperformance in Mayfair and Belgravia