Matt speaks with Mark Preston, Executive Trustee and CEO of Grosvenor, on this week’s episode. Grosvenor is a 340 year-old family office and commercial property business in the UK, owned by the Grosvenor family. Their young patriarch and Chair, Hugh Grosvenor, is the Duke of Westminster. 

Matt reflects that this kind of business longevity is nearly unrelatable in the real estate investment business, where the time horizon is so often three, five, or at max, fifteen, year holds.

Mark delves into what long-termism means from Grosvenor’s perspective, particularly around the issues and responsibilities surrounding carbon and community benefits for property owners.

He emphasizes that while there is growing opportunity to invest in environmentally sound real estate, it is imperative to do so, if investors and developers are going to be responsible citizens. These long-term real estate investments and developments have the potential to make a significant impact socially and environmentally — as well as financially. Mark emphasizes that long-termism is less about planning to buy and own a property for 350 years than it is about building a positive and durable reputation. 

Resources

• Mark Preston | LinkedIn
• Grosvenor
• AFIRE