JUST IN: Prince George’s BILLIONAIRE godfather linked to quiet lobbying move — and it’s raising serious questions…
Prince George’s billionaire godfather quietly lobbied Rachel Reeves on controversial issue
The Duke is a close friend of Prince William and godfather to Princes George and Archie.
The Duke is a close friend of Prince William and godfather to Princes George and Archie (Image: Getty)
Prince George’s billionaire godfather has entered the debate over leasehold reform, warning the Treasury that plans to restrict ground rents could lead to a “sudden collapse” in professional property ownership. Hugh Grosvenor, the 7th Duke of Westminster, is understood to have approached Chancellor Rachel Reeves as part of an industry-wide effort regarding the Government’s leasehold housing reforms.
A private letter sent to the Chancellor, obtained by The Times under information laws, revealed that the Duke’s property company, Grosvenor Property UK, joined 12 other institutional investors and industry bodies to highlight concerns over the policy. The signatories – including the Residential Freehold Association, Wallace Estates, the British Property Federation and Arc Time Freehold Income Fund – expressed concern that the proposed rules could adversely affect the housing market.
The letter to Reeves warned the severe reduction could cause a ‘sudden collapse’ in professional ownership (Image: Getty)
They argued that a severe reduction in ground rents could result in a “sudden collapse” in professional ownership, leading to fewer new-build flats, reduced mortgage lending and falling property values. The group stated that the plans stood in “direct contradiction” to the Government’s target to build 1.5 million new homes. They also cautioned that altering existing legal contracts would introduce “political risk” into investment portfolios, potentially affecting everyday pension holders who rely on long-term funds.
The letter was also copied to other senior figures at the Treasury, including Chief Secretary Lucy Rigby, Financial Secretary Lord Livermore, Investment Minister Lord Stockwood, and Pensions Minister Torsten Bell. The investors and funds indicated they could seek compensation in court if their current contracts are disrupted.
The letter stated: “Official government estimates have totalled investments at over £27 billion and we fear this legal risk has not been sufficiently understood by MHCLG [the Ministry of Housing, Communities and Local Government].”
The Commonhold and Leasehold Reform Bill was featured in the King’s Speech and is expected to be implemented next year (Image: Getty)
The correspondence reached the Chancellor shortly before ministers announced plans to cap ground rents paid to freeholders of existing properties in England and Wales at £250 a year, with the charges phasing out to a nominal “peppercorn” rate after 40 years
The approach has faced criticism from parliamentary figures, who prefer such arguments to be made openly. Florence Eshalomi, the Labour chairwoman of the housing select committee, questioned the decision to handle the matter through private correspondence, saying: “It is noticeable from this letter to the Treasury that there was an eagerness from investors and freeholders to lobby privately on these issues rather than expose their arguments to more public scrutiny.”
A Government spokesman defended the plans, saying the reforms strike “a fair balance,” adding: “Far too many people have fallen victim to the feudal leasehold system across the country. That is why we are taking action to end it for good.”
The Commonhold and Leasehold Reform Bill was featured in the King’s Speech, with reports indicating that the Government intends to implement the £250 cap by late 2027.
Grosvenor married Olivia Henson in June 2024 and welcomed a daughter in July 2025 (Image: Getty
Who is the Duke of Westminster?
While he is a key figure in the royal inner circle, Hugh Grosvenor is also one of the world’s most powerful and wealthy landowners. The 35-year-old Duke holds a historic and unique position bridging the Royal Family’s deep divides.
He is one of the few people to have maintained a strong friendship with both Prince William and Prince Harry. He is the godfather to Prince George, 12, and Prince Archie, seven.
At just 25 years old, Hugh inherited his title and the staggering family fortune following the sudden death of his father, Gerald Grosvenor, in 2016. His net worth skyrocketed to an estimated £10billion, instantly making him the wealthiest person under 40 in the UK. His vast wealth is built on the historic Grosvenor Group, an urban property empire that owns roughly 300 acres of the world’s most expensive land, including virtually all of London’s ultra-exclusive Mayfair and Belgravia districts.
Born on January 29, 1991, Hugh Grosvenor married Olivia Henson in June 2024, and the couple welcomed their first child, a daughter named Cosima Florence, in July 2025.
