The Queen’s property portfolio value rose nearly 10 per cent to £12 billion this year with the Treasury scooping a record £304.1 million in profits.
The Crown Estate, which owns most of the shops, offices and apartments on Regent’s Street as well as much of St James’ Street, contributed more than £30 million pounds more to the public coffers this year than in 2015. The monarch has one of the largest property portfolio holdings in the UK and this year the Crown Estate, which manages it, achieved a market beating return up 6.7 per cent on 2015 following the £1.5 billion it invested in regenerating Regent Street and St James’ Street. In 2015/16 it earned £92.6 million in revenue from West End retail and £75.4 million in revenue from central London office rents and £39 million from residential lettings in the capital.
The amount of money the Queen receives from the property portfolio is set at 15 per cent of The Crown Estate’s profits meaning that this year she got £43 million and if it stays the same she can expect to receive £45 million next year, compared with £31 million in 2012.
News of the upsurge in profits comes ahead of a review of the amount of money the Queen receives from the Treasury, known as the Sovereign Grant. The grant, which is paid every two years and reviewed every five, was set at 15 per cent in 2012.