Wed, 01 Aug 2012 | COMMERCIAL PROPERTY
A substantial level of growth in the Crown Estate's commercial property revenues has been recorded over the past 60 years.
When Queen Elizabeth first came to the throne in 1952, the estate brought in around £2.5 million in rental revenues. However, growth in the property market coupled with inflation has resulted in a massive 9,400 per cent growth in revenue and the Crown Estate now earns around £235 million a year.
The Crown Estate is the company that owns and manages the sovereign's land and property in the UK. The fact that it owns historic properties in some of the most desired postcodes is likely to have contributed heavily to the growth.
In terms of valuation, the portfolio itself was not valued until 1987 when it was worth around £1.2 billion. Today this value has increased to around £7 billion. This is excluding key properties such as Buckingham Palace, Windsor Castle and the Balmoral Estate, which are owned by the Queen herself.
Sir Stuart Hampson, chairman of the Crown Estate, told the Financial Times that the company's growth “demonstrates clearly that entrepreneurialism and flair can thrive in a public body”, citing the excellent performance of the portfolio over the Queen's reign.
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