The developer undertook 拢248m of capital expenditure last year, its results disclose
The Crown Estate has announced a record return to the Treasury from its property activity of 拢267.1m last year.
It undertook nearly 拢1bn of capital activity, comprised of 拢248m of capital expenditure including development, 拢264m of acquisitions and disposals totalling 拢457m.
Major developments include rolling redevelopment of London鈥檚 Regent Street and St James鈥檚 areas, refreshes of regional retail parks and several major offshore wind farm developments.
The Crown Estate was established by an Act of Parliament in 1961 to manage estates on behalf of the Queen, for the benefit of the UK Treasury.
Alison Nimmo, chief executive of The Crown Estate said: 鈥淚t鈥檚 been another fantastic year for The Crown Estate and with a portfolio now valued at close to 拢10bn, this record performance shows that from the heartlands of our real estate business to our investment offshore, we鈥檙e truly at our best when we鈥檙e actively managing.鈥�
No comments yet