The Grosvenor Estate
The Grosvenor family's wealth stems from a 1677 marriage that brought them 500 acres of swampy land, which they developed into Mayfair and Belgravia.
The Grosvenor family (headed by the Duke of Westminster) is one of the wealthiest aristocratic families in the UK. Their immense property empire can be traced back to 1677, when Sir Thomas Grosvenor married an heiress named Mary Davies.
Her dowry included 500 acres of marshy, rural land west of the City of London. As London expanded rapidly in the 18th and 19th centuries, the Grosvenor family developed this land. Rather than selling it, they maintained the freeholds and granted long leases to developers.
Mayfair and Belgravia
This land became Mayfair, Belgravia, and Pimlico—some of the most expensive real estate in the world. By retaining the freehold and enforcing strict estate management rules, the Grosvenor Estate has maintained the premium status of these neighborhoods for over three centuries.