Crown Estate welcomes improved offshore wind performance

The Crown Estate, an independent commercial business created by the Government, has announced its productive return for the benefit of public finances. It has made the following returns:

1. Record return to the Treasury for the benefit of the public finances: £267.1 million, up 5.7% 2. Capital value is at a historic high: £9.9 billion, up 14.6% 3. Property values are up: £9.4 billion, up 15.7% 4. Market beating total return has increased: 20%, against a 17.3% benchmark 5. 3 year total return: 15.9% against 13% market benchmark 6. Third party assets managed in joint ventures: £968m, up 59%.

Sir Stuart Hampson, Chairman of The Crown Estate said: “This year’s record profits as well as our outperformance of the market over the last three years prove that through our long term approach to investment and steadfast focus on our core sectors, The Crown Estate continues to be a remarkable UK success story.” Alison Nimmo, Chief Executive of The Crown Estate said: “It’s been another fantastic year for The Crown Estate and with a portfolio now valued at close to £10 billion, this record performance shows that from the heartlands of our real estate business to our investment offshore, we’re truly at our best when we’re actively managing.” Lord Deighton, Commercial Secretary to the Treasury said: “The long-term view taken by The Crown Estate has yielded another year of strong growth. This is a great British institution demonstrating careful stewardship and also creating value that goes beyond financial return.”