Profits from the Crown Estate – owned by Queen Elizabeth – recorded record profits in the year to March, it was announced today.
The vast royal property portfolio saw annual profits soar to £252m (a rise of more than 5%) with the Queen set to pocket £38m from the rise in her 2014/2015 pay-out.
The estates are officially owned by the monarch although proceeds have been shared with the taxpayer since 2012 thanks to legislation linking the Queen’s income more closely to UK’s economic performance.
“We are proud that another record Crown Estate performance will again make a strong contribution to the nation’s finances,” said chairman Stuart Hampson. The company’s property portfolio is now worth £8.1 bn and includes almost all of the UK’s seabed, where wind farms are increasingly being erected, alongside many key London institutions, such as St James’s Market.
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