GROSVENOR WEST END PROPERTIES
Company number: 00956235
Reporting period:
1 January 2026 to 30 June 2026
Report filed on:
28 July 2026
Approved by:
Jonathan Rae
Contracts and payments
Do any of this business's construction contracts with its suppliers include retention clauses? Yes
Payment statistics
Average time taken to pay invoices: 7 days
Total value paid:
- within 30 days: £18,487,441 (98%)
- in 31 to 60 days: £215,661 (1%)
- in 61 days or more: £131,346 (< 1%)
Invoices paid:
- within 30 days: 98%
- in 31 to 60 days: 1%
- in 61 days or more: 1%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £327,556
- payments due in the reporting period which have not been paid within the agreed period: 2%
- not made in the reporting period due to a dispute: 0%
Payment terms
Shortest standard payment periods
28 days
Longest standard payment period
Answer not provided
Standard payment terms
28 DAYS PAYMENT TERMS
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
28 days
No further comment provided
Any other information about payment terms
No further comment provided
Retention clauses
How does this business use retention clauses?
Retention clauses are used in specific circumstances:
Nearly all our construction projects use standard forms of JCT contract with Grosvenor Specific amendments. The forms of contract are broadly aligned, but vary slightly depending on the scale and complexity of the project (ie we use a Minor Works contract for simpler lower value projects - i.e. typically sub £250k) and then either the standard or the D&B contract for larger schemes.
Does this business only use retention clauses in construction contracts above a specific contract sum?
No
Does this business use a standard percentage rate in retention clauses?
Yes: 5%
Does this business apply retention clause practices that are no more onerous than those applied to it on the same project?
Yes:
The level of retention is nearly always set at 5%, ie at each valuation stage of the project the 5% retention is deducted from the valuation certificate and only 95% of the valued costs are paid.
Releasing money under a retention clause
Process for releasing money this business has deducted or retained under a retention clause
The level of retention is nearly always set at 5%, ie at each valuation stage of the project the 5% retention is deducted from the valuation certificate and only 95% of the valued costs are paid. Half of the retention (2.5%) is then released at the Practical completion of the works, with the remaining half (2.5%) held for 12months until the end of the Defects rectification period. Should the contractor not return to fix any defects during the defects period then the remaining retention can be used to fix these.
Is the money released in stages?
Yes:
The level of retention is nearly always set at 5%, ie at each valuation stage of the project the 5% retention is deducted from the valuation certificate and only 95% of the valued costs are paid. Half of the retention (2.5%) is then released at the Practical completion of the works, with the remaining half (2.5%) held for 12months until the end of the Defects rectification period. Should the contractor not return to fix any defects during the defects period then the remaining retention can be used to fix these.
Amount retained from suppliers in the reporting period
Amount retained stated as a percentage of the money retained from this business by its clients
0%
Amount retained stated as a percentage of the total construction payments made by this business
5%
Dispute resolution process
"With respect to contracts with suppliers, the general position is that the Grosvenor contact responsible for the supplier relationship will first attempt to resolve the dispute in a timely manner. Such discussions would generally seek to deal with any disputes promptly in accordance with the terms of the contract.
If required the dispute will be escalated to the supplier category head, who will liaise with the business contact from the supplier in order to come to an agreeable outcome."
Other payment information
Has this business signed up to a code of conduct or standards on payment practices? If so, which?
For example, signatories to The Fair Payment Code must commit to paying 95% of their invoices within 60 days.
Yes, this business has signed up to: PROMPT PRACTICE CODE
Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
No
Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
No
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No