King Charles to receive £132m next year after crown estate makes £1.1bn profit | Crown estate

King Charles is scheduled to receive an official annual income of 132 million pounds next year, after that Land and property portfolio More than one billion pounds in profits achieved a boom in the marine wind sector.

The profits in The Crown Estate – which are partially funded in the property – were flat at 1.1 billion pounds in its financial year until the end of March, but more than twice its level two years ago, at a price of 442.6 million pounds.

Crown Estate, as the legal owner of the sea floor around England, Wales and Northern Ireland, is responsible for the wind -reaction auction abroad. The massive growth in this industry has benefited from asking for huge options fees from renewable energy developers to secure areas of the sea bottom to build their wind buttons.

Ownership receives 12 % of the real estate crown profits to finance its business, in addition to renewing 369 million pounds at Buckingham Palace. These fees were reduced from 25 % in 2023 to compensate for the height of profits from marine wind projects.

According to the new account, King Charles is preparing to receive an official income of 132 million pounds from the Hawza, At the same level as last year. The grant remained fixed at 86.3 million pounds for the previous four years.

Dan Labbad, CEO of Crown Estate, said that the increase in profits in the past two years was a “short -term” phenomenon. He said: “We expect this year to be the high point of these returns … before the normalization of profits.”

Michael Stevens, the king’s goalkeeper in the Queen’s portfolio, said last year that the expected significant increase in the sovereign grant will be used to finance the final stages to renew the Buckingham Palace. Once this is completed, he said, “A discount will be requested in the absolute amount of the sovereign grant as part of the Royal Coal review in 2026-27, through preliminary legislation,” to ensure that the work of the royal family is funded at an appropriate level.

In general, the crown, which also includes a portfolio of London The value of real estate and rural real estate is now 15 billion pounds, a decrease of 15.5 billion pounds last year. The evaluation of the marine part of the work of two million pounds this year decreased to 3.4 billion pounds.

The value of the real estate assets in London amounted to 7.1 billion pounds, compared to 6.9 billion pounds in the previous year. Many of its wallets are focused in the capital around Regent Street and St. James Street, and it includes Victorian House, the home of the oldest Indian restaurant in London, Veenaswamy.

The Crown Estate also said that it was re -developed about 93,000 square meters (1 square meter) of the London’s commercial space as part of a pipeline of 490 million pounds, through a partnership with the Westminster City Council to convert Rignet Street, Heimark and Piccadili Cerex.

In May, Crown Estate agreed to a 50/50 -a -and -conditioned joint venture with a construction company in a project that could build up to 26,000 homes and create 100,000 jobs. In general, Hawza believes that it can build up to 56,000 new homes through its wallet, with the ongoing applications that are already running for more than 5000.

A The National Audit Office report last year It revealed that the Buckingham Palace renewal project was well managed but structural damage and the discovery of asbestos, which led to an increase in costs, “could have been expected.”