Residential and commercial property firm Grosvenor is preparing to expand into the global property market.

The Duke of Westminster's commercial property company has doubled the amount of loans and cash available to stand at £964 million.

It has furthered bolstered its financial standing by reporting a loss of £236 million in 2009, a drop from the £594 million recorded the year before.

Chief executive of Grosvenor Mark Preston said: "Strategic priorities for the future are to invest more in Asia, reinvest in our core London holdings and work with the growing pool of international capital seeking a home in property via our fund management business."

He added the firm will re-invest in those markets when it believes it is worthwhile to do so.

As well as dealing with the business property market, Grosvenor also invests in the residential sector and specialises in urban-mixed use, managing 300 acres in central London.ADNFCR-2842-ID-19727256-ADNFCR