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The Times & The Sunday Times
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BUSINESS

Grosvenor group fashions €128m from Liffey centre share sale

Brian Carey
The Sunday Times
Model Teodora Sutra at a Liffey Valley sales event
Model Teodora Sutra at a Liffey Valley sales event
SASKO LAZAROV/PHOTOCALL IRELAND
Brian Carey
The Sunday Times

Grosvenor Group, the property group owned by the Duke of Westminster, pocketed £112m (€128m) from the sale of its interest in Liffey Valley shopping centre, according to accounts just filed in the UK Companies House.

Grosvenor held a 27% stake in Liffey Valley, which was sold to Bayerische Versorgungskammer (BVK) last December.

Hugh Grosvenor, 26, the seventh Duke of Westminster, inherited the vast property company last year on the death of his father.

Liffey Valley has more than 100 shops and restaurants and a multiplex cinema. It had been owned by a consortium, including HSBC Alternative Investments, Grosvenor and Hines, a US investment fund.