Crown Estate hails record £253m profits thanks to property boost

 
Kasmira Jefford
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THE QUEEN is in line for a significant boost in income after the Crown Estate today reported record full-year profits of £252.6m.

The monarchy’s portfolio of property and land is now valued at £8.2bn after a 5.2 per cent rise in profit in the year to 31 March.

Profits are paid to the Treasury, with the Queen receiving a 15 per cent share under the new sovereign support grant, which came into effect this year.

The Crown Estate’s urban portfolio, which includes Regent Street and around 14 regional shopping centres, rose by 8.3 per cent in value to £5.9bn, delivering a total return of 10.6 per cent.

Alison Nimmo, chief executive, said the Crown Estate had “more cranes on the skyline than any time in its history” after last month completing the £100m St James’s Gateway scheme.

The value of its energy and infrastructure portfolio rose by 8.2 per cent to £564m while its rural and coastal portfolio increased by 3.2 per cent to £1.4bn.