Prince George's godfather has launched an ambitious new business venture just months before his wedding – set to be one of the biggest society occasions of the year.
Hugh Grosvenor, 7th Duke of Westminster's property company is launching a £900 million lending business focused on residential development.
Grosvenor, which owns about 300 acres of land in Mayfair and Belgravia, as well as major city centre developments, is looking to expand its investment into different types of residential property across the country.
The Financial Times reports that this is likely to include homes for sale as well as rental, student and retirement housing.
The Duke, 33, is Grosvenor's Chair as well as Chair of the Westminster Foundation, which focuses on helping vulnerable young children.
The announcement comes in the lead-up to Hugh's forthcoming wedding to Olivia Henson, a senior account manager at Belazu, a B-Corp certified food company based in London.
The pair will tie the knot at Chester Cathedral on Friday 7 June, with the King and Queen, and the Prince and Princess of Wales reportedly among the invited guests.
Hugh and Olivia's engagement was announced in April 2023, with a spokesperson for the Duke and Miss Henson saying at the time: "The couple have chosen the cathedral for both its beauty and long association with the Grosvenor family, including to the Duke personally.
"Cheshire is the Grosvenor family's ancestral home and as Miss Henson's connection to the region continues to grow, they are keen to plan their wedding there.
"The Duke and Miss Henson became engaged at Eaton Hall in April and have been incredibly grateful for the warm messages of congratulations they have received since then."
Hugh, who was ranked 11th on the 2023 Sunday Times Rich List with an estimated fortune of £9.9 billion, inherited the Grosvenor estate from his late father Gerald Grosvenor after his death in 2016.
He and his three sisters, Lady Tamara, Lady Edwina and Lady Viola, were raised at the Grosvenor family's seat, Eaton Hall.
The Duke is a close friend of Prince William and Prince Harry, and is godfather to their respective sons, Prince George and Prince Archie. He also counts King Charles as one of his godparents and was one of the peers carrying the Royal Standards at the coronation in May 2023.
Despite inheriting such a large fortune and the family business at just 25, the Newcastle University alumnus, Hugh has stayed largely out of the public spotlight.
His lavish 21st birthday party in 2012 made headlines with 800 guests invited to a huge celebration in a marquee in the gardens of Eaton Hall with Prince Harry and comedian Michael McIntyre among the attendees.