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For the first time in its history, the Crown Estate is now valued at over £10 billion after a record jump of 16.1% in value; the Crown Estate is now worth a staggering £11.5 billion, nearly double the value of 10 years ago. The incredible jump in value was in part down to a profits increase of 6.7% to a new record of £285.1 million. This will be returned to the public purse.
Ollie Salter, surveyor at tenant acquisition specialist Morgan Pryce, believes the Crown Estate is well placed in a landlord shifted market,
“The Crown Estate has seen vast growth in their profits this year, and in turn their value. One factor that has played a huge role in this is their strong position within the London market, specifically the West End where prices have increased at a steadily rapid rate over the last 12 months. With over 600,000 sq ft also under development, they are in an incredibly strong position and it will be no surprise if their profits increase over the coming years. However, although their Capital presence is a major driving force in their success this year, they are also well placed in the ever growing regional markets. Developments and investments in retail and office in areas such as Leicester and Oxford have allowed for a diversification of opportunities across the UK. It is the diversity of opportunities that have allowed the Crown Estate to be so effective in the market.”
This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.