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59-533: In 2014, Redbridge Council agreed to purchase Redbridge Cycling Centre from the Crown Estate using a grant from the London Marathon Charitable Trust. 51°36′22″N 0°07′37″E  /  51.606°N 0.127°E  / 51.606; 0.127 This article about a London sports venue is a stub . You can help Misplaced Pages by expanding it . Crown Estate The Crown Estate

118-540: A Jersey -based property unit trust. The estate recently purchased the new Rushden Lakes site in Northamptonshire from its developers. Hereditary properties of the monarch currently in government use will revert to the Crown Estate in the event of the government use ceasing. In the 2021/2022 fiscal year, the Crown Estate's property evaluation was £15.6 billion with a £312.7 million net revenue profit, which

177-652: A durable and transparent framework. In April 2014 it was reported that the Crown Estate was proposing to sell about 200 of its 750 rural homes in the UK, and was evicting tenants in preparation. The Crown Estate in Wales includes the coastal seabed up to 12 nautical miles, approximately 65% of the foreshore as well as the Welsh river bed and ports and marinas. The estate also owns over 50,000 acres of Welsh upland and common land, mainly rough grazing land, and 250,000 acres of mineral deposits and

236-414: A fraction of The Crown Estate revenue and paid through the annual Treasury Estimates process, and subject to full National Audit Office audit.... The Grant is to enable The Queen to discharge her duties as Head of State. i.e. it meets the central staff costs and running expenses of Her Majesty's official Household – such things as official receptions, investitures, garden parties and so on. It will also cover

295-910: A major disinvestment , with reinvestment in Great Britain . Article 11 of the 1922 Constitution of the Irish Free State provided that Crown Estate land within the Irish Free State would belong to the state, which took over administrative responsibilities on 1 April 1923. At the time of handover, quit rents totalled £23,418 (equal to £2   million today) and rent from property £1,191 (equal to £86,000 today). The estates handed over mostly comprised foreshore. The Crown Estate in Northern Ireland in 1960 comprised "a few quit rents ... yielding yearly only £38." By 2016 it had an income of £1.4   million, from cables, pipelines and windfarms on

354-455: A portfolio of assets totalling £272 million ($ 339.6 million) after a devolved Scottish Crown Estate was established, including the rights to develop marine energy projects in the country. A new public body, Crown Estate Scotland (CES), was established to manage these assets. The Scotland Act 2016 allowed a transfer scheme to for devolution of powers over the management of revenue management of Scottish assets on 1 April 2017. Prior to

413-743: A value indexed as a percentage of the revenues from the Crown Estate and other revenues in the financial year two years earlier. It is based on an index percentage that was initially set at 15% and this is reviewed every five years by the Royal Trustees (the Prime Minister , the Chancellor of the Exchequer and the Keeper of the Privy Purse ). Any unspent Sovereign Grant is put into a reserve fund. The level of

472-631: Is a collection of lands and holdings in the United Kingdom belonging to the British monarch as a corporation sole , making it "the sovereign's public estate", which is neither government property nor part of the monarch's private estate. The Crown Estate in England , Wales , and Northern Ireland is managed by the Crown Estate Commissioners , which trades as The Crown Estate. In Scotland ,

531-612: Is finished in 2027. This was expected to result in a 66% rise in the grant in 2017–18. The increase in the grant to 25% was approved by Parliament in March 2017. A decrease in the Crown Estate's rental income during the COVID-19 pandemic led to the first use of the provision that prevents the value of the Sovereign Grant from falling, with the Treasury committing to make up the shortfall. After

590-655: Is now a statutory corporation run on commercial lines by the Crown Estate Commissioners under the provisions of the Crown Estate Act 1961 ( 9 & 10 Eliz. 2 . c. 55). Under that act, the Crown Estate Commissioners have a duty "while maintaining the Crown Estate as an estate in land [...] to maintain and enhance its value and the return obtained from it, but with due regard to the requirements of good management". The act provides among other things that (Section 1(5)) "The validity of transactions entered into by

649-716: Is paid into the Consolidated Fund of the UK government . Previous officials responsible for managing what is now the Crown Estate were: Sovereign Grant Act 2011 The Sovereign Grant Act 2011 (c. 15) is the Act of the Parliament of the United Kingdom that introduced the Sovereign Grant , the payment that is paid annually to the monarch by the government in order to fund

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708-579: The Civil List . By tradition, each subsequent monarch agreed to this arrangement upon his or her accession. On 1 April 2012, under the terms of the Sovereign Grant Act 2011 (SSG), the Civil List was abolished and the monarch has since been provided with a stable source of revenue indexed to a percentage of the Crown Estate's annual net income. This was intended to provide a long-term solution and remove

767-632: The Commissioners of Woods, Forests, Land Revenues, Works and Buildings and their successors under the Crown Lands (Scotland) Acts of 1832, 1833 and 1835. These holdings mainly comprised former ecclesiastical land (following the abolition of the episcopacy in 1689) in Caithness and Orkney , and ancient royal possession in Stirling and Edinburgh, and feudal dues. There was virtually no urban property. Most of

826-505: The Duchy of Cornwall . In 1760, King George III agreed with Parliament that he was no longer to govern in person, and therefore was no longer entitled to income from the Crown Estate , which for 700 years had always been used for the administration of the state. Parliament passed the Civil List Act 1760 , which granted a fixed annual income from the Civil List. The resulting system required

885-518: The Home Park of Windsor Castle , extensive forests, residential and commercial properties, golf courses, a racecourse and let farms. The Crown Estate's marine holdings consist of: The Crown Estate plays a major role in the development of the offshore wind energy industry in the UK. Other commercial activity managed by the Crown Estate on the seabed includes wave and tidal energy, carbon capture and storage , aggregates, submarine cables and pipelines and

944-532: The "undisposed lands" of the 1662 settlement (worth less than the small quit rent that a grantee would have had to pay) and the balance unsold by the trustees under the 1700 act at its 1703 time limit. The scattered Crown lands were farmed out on long leases with little regard to the collection of rent. Responsibility lay with the Quit Rent Office, which was absorbed in 1827 by the Commissioners of Woods, Forests and Land Revenues . The largest Crown estate in

1003-562: The 1820s was Pobble O'Keefe in Sliabh Luachra at 5,000 acres (2,000 ha). In 1828 the lease expired, and Richard Griffith was appointed to supervise its improvement, including the foundation of the model village of Kingwilliamstown . In the early 1830s the Crown Estate resumed possession of land in Ballykilcline following the insanity of the head lessee. The occupational sub-lessees were seven years in arrears with their rent and

1062-456: The 2016 review of the percentage of the Crown Estate income used to calculate the grant, it was announced that a temporary increase in the Sovereign Grant would be used to fund a £369 million refurbishment of Buckingham Palace , subject to parliamentary approval. The trustees recommended that the percentage should rise to 25% for the 10 years during which the work would take place, and that the grant should then be returned to 15% when building work

1121-644: The Anarchy when King Stephen and Empress Matilda attempted to buy support with land grants. Crown lands were often used as patronage to reward the king's family, friends, and servants. At the same time, the Crown lands also grew through confiscations and escheat . The Crown lands were augmented as well as depleted over the centuries: Edward I extended his possessions into Wales , and James (VI & I) had his own Crown lands in Scotland which were ultimately combined with

1180-504: The Commissioners shall not be called in question on any suggestion of their not having acted in accordance with the provisions of this Act regulating the exercise of their powers, or of their having otherwise acted in excess of their authority, nor shall any person dealing with the Commissioners be concerned to inquire as to the extent of their authority or the observance of any restrictions on the exercise of their powers". The act includes

1239-479: The Crown Estate and leased to mining operators. Historically, Crown Estate properties were administered by the reigning monarch to help fund the business of governing the country. However, in 1760 , George III surrendered control over the estate's revenues to the Treasury, thus relieving him of the responsibility of paying for the costs of the civil service, defence costs, the national debt, and his own personal debts. In return, he received an annual grant known as

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1298-692: The Crown Estate income to Scotland. In response to this demand, the Scotland Office decided against dividing up the Crown Estates. However, plans were developed to allocate some of the Crown Estate income to the Big Lottery Fund , which would then distribute funds to coastal communities. These plans were criticised by the SNP. The Scotland Act 2016 allowed the Scottish Government to take control of

1357-526: The Crown Estate is managed by Crown Estate Scotland , since the Scottish estate was devolved in 2017. The sovereign has official ownership of the estate but is not involved with its management or administration; nor does the sovereign have personal control of its affairs. For all practical purposes, the Estate Commissioners shall exercise "all such acts as belong to the Crown's rights of ownership" for

1416-686: The Crown land by then was from forfeitures after the 1641 rebellion or the 1688–91 revolution , with some smaller older parcels remaining from earlier rebellions, the Dissolution of the Monasteries and the Norman period . Most confiscated land had been granted away again, as under the Adventurers' Act 1642, Act of Settlement 1662 , and the Act of Resumption 1700. The balance which remained in Crown hands included

1475-503: The Crown lands in England (which amounted to about £11,000, or £2,100,767 today), and was granted a civil list annuity of £800,000 (equal to £152,783,019 today) for the support of his household, subject to the payment of certain annuities to members of the royal family. Although the King had retained large hereditary revenues, his income proved insufficient for his charged expenses because he used

1534-477: The Crown lands of England and Wales. The disposals outweighed the acquisitions: at the time of the Restoration in 1660, the total revenue arising from Crown lands was estimated to be £263,598 (equal to £49,987,935 today). By the end of the reign of William III (1689–1702) it was reduced to some £6,000 (equal to £1,240,996 today). Before the reign of William III all the revenues of the kingdom were bestowed on

1593-450: The Crown lands to Parliament, and abrogated responsibility for the cost of the civil government and the clearance of associated debts. As a result, and to avoid pecuniary embarrassment, he was granted a fixed civil list payment and the income retained from the Duchy of Lancaster . The King surrendered to parliamentary control the hereditary excise duties, post office revenues, and "the small branches" of hereditary revenue including rents of

1652-453: The Estate "on behalf of the Crown". The proceeds of the Estate, in part, funds the monarchy. The estate's extensive portfolio is overseen by a semi-independent, incorporated public body headed by the Crown Estate Commissioners, who exercise "the powers of ownership" of the estate, although they are not "owners in their own right". The revenues from these hereditary possessions have been placed by

1711-454: The Sovereign Grant for 2025–26. The Keeper of the Privy Purse said the increase will be used to complete the renovation of Buckingham Palace, and that once this was accomplished: "a reduction in the absolute amount of the sovereign grant will be sought as part of the royal trustees review in 2026–27, through primary legislation". The King and the Prince of Wales also receive private income through

1770-566: The Sovereign Grant is protected by law from decreasing as a result of falling Crown Estate revenues. In addition, the legislation requires that the Sovereign Grant shall not rise to such a level that the Reserve Fund becomes more than half the level of annual expenditure. Annual financial accounts are published by the Keeper of the Privy Purse and audited by the National Audit Office , making

1829-483: The Sovereign Grant more accountable than its predecessor. Funding to the Royal Household is treated similarly to funding for other government departments, unlike previous Civil List payments. Since its inception, the Sovereign Grant has often risen each year at a rate higher than the rate of inflation . About a third of the grant is used to tackle the backlog in property maintenance at the royal palaces . Following

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1888-685: The UK in locations including Oxford , Exeter , Nottingham , Newcastle , Harlow , and Swansea . In 2002 the Crown Estate began implementing a £1 billion investment programme to improve Regent Street's commercial, retail, and visitor facilities and public realm. In addition, it is investing £500 million in St James's, including a number of major redevelopments. Holdings consist of around 116,000 hectares (287,000 acres) of agricultural land and forests, together with minerals and residential and commercial property. The Windsor Estate covers approximately 6,300 hectares and includes Windsor Great Park ,

1947-434: The UK's foreshore , and retains various other traditional holdings and rights, including Ascot Racecourse and Windsor Great Park . While Windsor Home Park is also part of the Crown Estate, occupied royal palaces, such as Windsor Castle itself, are not part of the Crown Estate, but are managed through the Royal Household . Naturally occurring gold and silver in the UK, collectively known as "Mines Royal", are managed by

2006-644: The Welsh Crown Estate in 2021 was £8.7m. Of the Crown Estate revenue; 75% goes to the UK Treasury whilst 25% is given to the monarch. In Wales, there have been multiple calls for the Crown Estate in Wales to be devolved , including by Plaid Cymru, Welsh Labour and the Welsh Liberal Democrats. An opinion poll in May 2023 also showed strong support for devolving the estate in Wales with a majority of 58% of

2065-571: The accession of King Charles III in September 2022, the new king approved a Statutory Order in Council to allow the existing Sovereign Grant provisions to continue throughout his reign. Prior to the Sovereign Grant Act, primary legislation had been required for the continuance of the Civil List. In January 2023 the Keeper of the Privy Purse , on behalf of the King, asked the government to reduce

2124-484: The annual state expenditure on the monarchy to be decided by the Treasury and presented to House of Commons . Prior to abolition, the Civil List was fixed at £7.9 million annually for the decade 2001–2010, the same amount as in 1991, with the reserve being consumed over the decade. In 2011 the Civil List was raised to £13.7 million. There were four funding sources: The Sovereign Grant Act came into force on 1 April 2012,

2183-523: The first to include provision for the royal finances", and in one of his first signed Orders in Council, he confirmed his willingness to surrender control of the Crown’s hereditary revenues from the Crown Estate in exchange for the Sovereign Grant. The history of the Crown lands in England and Wales begins with the Norman Conquest in 1066. By right of conquest , William I ( r.  1066–1087) owned all

2242-506: The following: In 2010 a UK Parliament Treasury Committee report on the Crown Estate, the first for twenty years, reported that Crown Estate chief executive Roger Bright said: "We welcome the Committee’s recognition that we run a successful business operation." This includes the entirety of Regent Street and around half of St James's in London's West End as well as retail property across

2301-611: The foreshore, and goldmining in County Tyrone . Development of the seabed below low tide is hampered by a sovereignty dispute with the Republic of Ireland . It was not until 1830 that King William IV revoked the income from the Crown estates in Scotland . The hereditary land revenues of the Crown in Scotland, formerly under the management of the Barons of the Exchequer , were transferred to

2360-639: The handover, the Crown Estate owned a multi-million stake in Fort Kinnaird retail park in Edinburgh representing about 60% of the value of all Crown assets in Scotland. This was not passed to Crown Estates Scotland with other Scottish properties in 2016. Two years later, the Crown Estate sold its stake and used the funds to assume full ownership of the Gallagher Retail Park in Cheltenham . The Crown Estate

2419-458: The land in England and was able to redistribute it based on feudal principles. Tenants-in-chief received land directly from the king in return for military service. The land that the king kept for himself was called the royal demesne and divided into royal manors . When the Domesday survey was completed in 1086, the king was still the largest single landholder, possessing over 18 percent of

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2478-519: The landed estates in England. Between 10 and 30 percent of each county belonged to the royal demesne. The king delegated management of royal lands to his sheriffs . Each year, the sheriff paid the king a fixed sum called the " county farm " and was allowed to keep any surplus. The county farms were the largest source of royal revenue, totaling over £10,000 annually. The size of the royal demesne fluctuated over time. The 70 years after William I died saw substantial alienation of lands, especially during

2537-524: The maintenance of the Royal Palaces in England and the cost of travel to carry out royal engagements such as opening buildings and other royal visits.... While the amount of the Grant will be linked to the profits of the Crown Estate, those profits will continue to be paid in to the Exchequer; they are not to be hypothecated. Setting the Grant at a percentage of profits of the Crown Estate will help to put in place

2596-405: The maintenance of the civil government and for the support of the royal household and dignity, being allowed for these purposes the hereditary revenues and certain taxes. As the state machinery expanded, the cost of the civil government exceeded the income from the Crown lands and feudal rights; this created a personal debt for the monarch. On George III's accession he surrendered the income from

2655-449: The mining of potash . In terms of the foreshore, the Crown Estate issue licences or leases for around 850 aquaculture sites and owns marina space for approximately 18,000 moorings. As of 2020 , marine holdings had a value of £4.1 billion. Other rights and interests include: Cheltenham 's Gallagher Retail Park and Warwick 's Leamington Shopping Park are owned 50/50 through "The Gibraltar Limited Partnership" with The Hercules Unit Trust,

2714-558: The monarch at the disposition of His Majesty's Government in exchange for relief from the responsibility to fund the Civil Government. These revenues proceed directly to His Majesty's Treasury , for the benefit of the British nation; a percentage of them is then distributed back to the monarch. The Crown Estate is formally accountable to the Parliament of the United Kingdom , where it is legally mandated to provide an annual report for

2773-489: The monarch for the general expenses of government. These revenues were of two kinds: After the Glorious Revolution , Parliament retained under its own control the greater part of the temporary revenues, and relieved the sovereign of the cost of the naval and military services and the burden of the national debt . During the reigns of William III, Anne, George I and George II the sovereign remained responsible for

2832-413: The monarch's official duties. It is usually set as a percentage of annual income from the Crown Estate . The Sovereign Grant Act was the biggest reform to the finances of the British royal family since the inception of the Civil List in 1760. In addition to the Sovereign Grant, the monarch continues to receive the revenue of the Duchy of Lancaster , while the Prince of Wales receives the revenues of

2891-406: The money going to the Treasury, the government announced that the grant would be 12% of the Crown Estate's net profits in the following year, down from 25%, while maintaining the same level of payment in pounds. In July 2024 it was announced that the annual profits from the Crown Estate had risen again due to the proceeds from offshore wind projects, resulting in an annual increase of £45 million to

2950-459: The people of Wales supporting the devolution of the Crown Estate compared to 19% who are opposed and 23% who don't know. Poll breakdown showed that all major political party voters supported devolution of the estate in Wales. In 1793, George III surrendered the hereditary revenues of the Kingdom of Ireland , and was granted a civil list annuity for certain expenses of Irish civil government. Most of

3009-422: The percentage used to calculate the sovereign grant so that the total does not include the income from new offshore wind power leases, calculated to be worth around £1 billion annually to the Crown Estate. This request was said by the King to be due to his desire that the money could instead be used for the "wider public good". In July 2023, due to the Crown Estate's sale of wind farm leases dramatically increasing

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3068-481: The politically sensitive issue of Parliament having to debate the Civil List allowance every ten years. Subsequently, the Sovereign Grant Act allows for all future monarchs to simply extend these provisions for their reigns by Order in Council . The act does not imply any legal change in the nature of the estate's ownership, but is simply a benchmark by which the sovereign grant is set as a grant by Parliament. King Charles III Accession Council on 10 September 2022 "was

3127-477: The practice was recognised as "an integral part of the Constitution [which] would be difficult to abandon". Nevertheless, a review of funding arrangements for the monarchy led to the passage of the Sovereign Grant Act 2011 , which according to HM Treasury, is: A new consolidated grant rounding together the Civil List, Royal Palaces and Royal Travel grants-in-aid. It is intended that future funding will be set as

3186-417: The present Scottish estate excepting foreshore and salmon fishing is due to inward investment, including Glenlivet Estate , the largest area of land managed by the Crown Estate in Scotland, purchased in 1937, Applegirth, Fochabers and Whitehill estates, purchased in 1963, 1937 and 1969 respectively. After winning the 2011 Scottish election , the Scottish National Party (SNP) called for the devolution of

3245-405: The privilege to reward supporters with bribes and gifts. Debts amounting to over £3 million (equal to £302,899,002 today) over the course of George's reign were paid by Parliament, and the civil list annuity was then increased from time to time. Every succeeding sovereign down to and including Charles III renewed the arrangement made between George III and Parliament. By the 19th century

3304-605: The result was the Ballykilcline "removals" – free emigration to the new world in 1846. There was further state-assisted emigration from overpopulated Crown estates during the Great Famine . There is evidence of Crown Estate public work schemes to employ the more distressed in improving drainage etc. In 1854 a select committee of the House of Lords concluded that the small estates in Ireland should be sold. 7,000 acres (2,800 ha) were subsequently sold for circa £25,000 (equal to £2.96   million today) at auction and £10,000 (equal to £1.19   million today) by private treaty:

3363-501: The rights to gold and silver. Various offshore wind projects are part of the Crown Estate in Wales, including the proposed Awel y Môr, Erebus 100MW Test and Demonstration project, and three 100M projects (in their assessment stage). The Crown Estate announced £1.2million would be invested into the Morlais tidal stream demonstration zone, developed by Menter Môn . The value of the Welsh Crown Estate has risen from £49.2m in 2020 to £549.1m in 2021, and then to £603m in 2022. The revenue of

3422-478: The sovereign, a copy of which is forwarded to the House of Commons . The Crown Estate is one of the largest property managers in the United Kingdom, administering property worth £15.6 billion, with urban properties, valued at £9.1 billion, representing the majority of the estate by value. These include many properties in central London, but the estate also controls 7,920 km (3,060 sq mi) of agricultural land and forest and more than half of

3481-419: The start of the financial year , and changed the arrangements for the funding of Queen Elizabeth II 's official duties. The Act consolidated four funding sources that the monarch received into a single payment, called the Sovereign Grant . The current system is intended to be a more permanent arrangement than the previous one, which was reign-specific. The Sovereign Grant is paid annually by HM Treasury at

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