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Crown Estate Returns Increased Profit

LONDON-The Crown Estate made an increased surplus in the year to 31 March 2001. Soaring property values and active management have continued to boost the amount the estate returns to the Government's coffers.

By Graham Parker | Updated on July 12, 2001

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).

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