The Crown Estate has
announced improved financial results with £343.5m of income returned to the
Treasury, a rise of 4.3% from £329.4m in 2017/18.
The Estate said this was its eleventh consecutive year of outperforming the market and that its ‘outperformance of its bespoke benchmark was driven by the growth of its offshore wind business along with acquisitions and asset management in central London.’
Robin Budenberg, Chairman
of The Crown Estate said: “The Crown Estate and its skilled team have
delivered another year of strong returns to the Treasury and for the nation’s
finances. Looking through short-term volatility in our markets, we remain
focused on planning for the future to shape a business that creates value for
customers in new ways and seizes the opportunities presented by the macro
trends that are transforming how people use real estate.”
The Crown Estate comprises
property, including a central London
office and retail portfolio, belonging to the monarch but which are managed in
the public interest. Twenty five percent of its income is returned to members
of the royal family by way of the Sovereign Grant. The latest results underline
the fact that The Crown Estate is, in reality, more than just an estate but
actually a significant and professionally run business within the property
What is DealMakerz Prime?
In depth stories
Want to know the story behind Britain's latest property mogul? Why a company is going bust? Our coverage goes beyond run-of-the-mill news on key real estate issues.
High powered community
Our subscribers are made up of the most influential Founders and CEO's in UK property. Gain a competitive edge and get informed - read what they read.
Exclusive guest articles
Understand exactly what the most senior figures in UK property are thinking. Exclusive opinion articles from powerful real estate influencers that move markets.