X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LONDON-The Crown Estate generated net revenue of £147.7 million ($208 million) in the year to 31 march 2001, up 11.1% on the previous year. The capital value of the portfolio was up 10.4% to £4 billion ($5.64 billion).

Crown Estate chairman Sir Denys Henderson says the portfolio showed an overall return of 15.7% against 11.5% for the benchmark Investment Property Databank index, reflecting the success of the estate’s long-term investment strategy.

In keeping with this policy, the Crown Estate is continuing to reinvest in its core landholdings. Over the past year it has bought Fleet Place House, which adjoins its Holborn Viaduct estate in Midtown for £59.9 million ($84.5 million). And in the West End where the Crown owns the Regent Street estate it bought Heathcoat House, Savile Row for £24.5 million ($34.5 million).

And Sir Denys remains bullish about the coming year. ‘We are aiming to accomplish another 10% rise in new revenue next year, and our strong balance sheet, which is completely ungeared, will ensure that we will continue to take advantage of exciting opportunities in London and elsewhere in the UK.

The Crown Estate is effectively the UK government’s own property company. It owns and manages what were once the monarchy’s private landholdings, but these were handed over to the government by Queen Victoria in return for a guaranteed annual payment under the Civil List. The Crown Estate has a legal obligation to maximise revenue from the landholdings and pay any surplus to the Exchequer to reduce the amount the Government has to raise in taxation.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.