Grosvenor, the Duke of Westminster’s property company, has unveiled plans to take select investments in its struggling retail and hospitality tenants.

The company said it is looking to “selectively invest in tenants to help them pivot their businesses and grow post-pandemic.”

Grosvenor is landlord to about 500 retailers, and food and beverage operators, in Mayfair and Belgravia.

About two-thirds of its tenants are independents or small businesses.

Over the summer Grosvenor waived rents for hundreds of tenants, subsidizing restaurants operators, pedestrianizing streets, widening pavements and installing hand sanitizer stations.

“Since lockdown started, Grosvenor has acted flexibly and creatively to support tenants in a variety of ways. This includes the waiving of rent between April and June for hundreds of retail, charity and food and beverage tenants and the extension of the Eat Out to Help Out Scheme in September,” the company said.

It added that by investing selectively “in tenants with new business ideas, and sound diversification and growth strategies, Grosvenor is taking a confident, long-term view on the success of central London at a time when the market is at its most uncertain.”

James Raynor, CEO of Grosvenor Britain & Ireland, said the company has “many tenants with exciting ideas to pivot and grow their business, but which require capital to push their strategies forward.”

“By innovating to invest in tenants we’re rewriting what it means to be a landlord — seeking to create partnerships where each is genuinely invested in the others’ success. Through long-term investments we can help these businesses adapt their strategy and grow.”