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Published
Jun 28, 2016
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The Crown Estate announces record income return

Published
Jun 28, 2016

The Crown Estate, the property company created by Act of Parliament which runs the British Queen's land and property empire, has announced "another record income return of £304.1m to the public finances," the company said.


Photo: The Crown Estate


It saw income return increase 6.7% on 2015 and reported a market-beating total return of 17.2%. The income return to the Treasury for public finances is £304.1m, totalling £2.4bn over ten years. The Crown Estate reported capital value up 12.2% at £12.9bn, with property value up 9.7% to £12bn.

Over the last three years, the company has delivered 900,000 sqft. of new space in the West End. The Crown Estate reported sales of £633.2m of total receipts across all portfolios in a strong market, and spent £72.9m on acquisitions.

Sir Stuart Hampson, Chairman of The Crown Estate said: “It is a great pleasure to conclude my final year as Chairman by announcing another record return to the public finances, and to know that I will hand to my successor a business that with its long-term outlook and a strong sense of values, will continue to remain an outstanding UK success story.”

In central London, where The Crown Estate's portfolio includes the whole of Regent Street and much of St James’s, it continued to benefit from its long-term strategy to invest £1.5bn in the regeneration of those areas. It said West End retail voids remained at 0%, and the company also completed over 212,000 sqft. of new space in four schemes, including One Burlington Place.

The Crown Estate also owns 14 retail parks, three shopping centres and two leisure destinations, which its said has benefited from improving occupier markets. In addition, the estate also holds offshore wind assets and owns rural and strategic land.

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