Press release
SCOTS COMPANIES ACCLAIMED AS THE CROWN ESTATE ANNOUNCES RESULTS
15 July 2010
Scotland has scooped two out of three of The Crown Estate’s Business Awards. A Lewis firm that has become one of Britain’s biggest seaweed processors and a Moray family farm established in the 1830s won the prestigious UK accolades for successfully and sustainably developing their businesses.
The awards reflect The Crown Estate’s wider commitment to sustainable, long-term investment in the development of our marine, rural and urban estates for the benefit of local communities and economies.
The winner of the Marine Business Award 2010 is the Hebridean Seaweed Company Ltd which sustainably harvests seaweed for use in a range of products. Set up in 2006, the company is now the country's largest industrial seaweed processor.
The Rural Business Award 2010 went to Fochabers-based farmers Frank and Wilson Thomson, who have been farming in the area since 1831. Their family has continually developed the farming business, while contributing to the estate, and local and Scottish farming sector through education and community activities.
The Crown Estate has helped fund infrastructure improvements in recent years that have allowed M C Thomson & Sons to sustain income through the difficult times of the last decade, and to expand, modernise and diversify.
Gareth Baird, Scottish Commissioner of The Crown Estate, said: “Both of the award winners reflect the importance of investing for the long term in a way that is sustainable economically and environmentally. They also highlight The Crown Estate’s commitment to building partnerships with customers and local communities.”
Today’s announcement coincides with the publication of our Scotland Report. The Crown Estate in Scotland recorded a revenue of £13.1 million for the year ending 31 March 2010 (c.f. £17.6 m in 2008/9).
The annual results for the Scottish rural estate include a gross revenue of £3.5 million (down by 2.8 per cent on 2008/9). Total capital investment on the Scottish rural estate over the year was £1.8 million.
Severe weather impacted the rural estate with extensive flooding at Fochabers and Applegirth and snow covering the ground at Glenlivet from December through to April. We anticipate investing some £1 million in strengthening and replacing buildings over the coming year.
The Scottish marine estate generated a revenue of £6.8 million (down by 16 per cent), reflecting conditions in the wider economy. During 2009/10 we invested over £1 million in the Scottish marine estate. We have earmarked nearly £38 million of capital investment over the next five years for marine renewable energy proposals across the UK estate and we anticipate that around 50 per cent of this investment will be in Scotland.
The Scottish urban estate saw revenue fall to £2.8 million and property values fall to £11.8 million (excluding the interest in the Gibraltar General Partnership as owners of Fort Kinnaird Retail Park), largely as the result of the sale of two properties in Edinburgh.
Gareth Baird, Scottish Commissioner of The Crown Estate said: “Throughout the year we have focused on long term investment which will not only benefit our customers but will also create sustainable economic benefits for Scotland as a whole.
“Nowhere is this more true than with renewable energy, where we are supporting the development of offshore wind, wave and tidal power. We are committed to working with the Scottish Government and local authorities to help ensure that Scotland benefits from these developments through jobs and wider economic opportunities.”
Across the UK, the total value of the directly-held property portfolio rose by a healthy 8.6 per cent to £6.0 billion, whilst total capital value at the end of the year was £6.6 billion, representing a rise of some 10.4 per cent over the previous year.
Further information
|
