The Howard de Walden Estate’s aristocratic family owners have shared a £34.6 million dividend it emerged on Wednesday, as the Harley Street landlord outlined plans to ensure London remains a top medical centre after Brexit.
Andrew Hynard, boss of the Howard de Walden Estate which spans 92 acres of central London, said his firm has teamed with 10 tenants to form a new partnership.
Members of the new Harley Street Medical Area team, which include King Edward VII’s Hospital and Cleveland Clinic, have invested undisclosed sums to try to secure a Business Improvement District status for parts of Marylebone by 2022.
A BID would result in occupiers paying a proportion of business rates to fund investment in the public realm and marketing.
Hynard told the Evening Standard: “We believe this move could ensure that the area remains the leading destination for the best independent medical care, regardless of whether we are in or out of the EU.”
The estate revealed the value of its property empire rose 0.6% to £4.6 billion in the year to March 31.
Stripping out property valuations, profits rose 8.2% to £81.6 million and rental income jumped 6.6% to £135.9 million.
The landlord benefited from strong demand for offices and surgeries, helping to offset tougher conditions in its residential and retail businesses.
The dividend increased from £32.8 million.
