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Annual Report and Accounts 2008

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Fact:

In 2007/08 The Crown Estate saw:

  • An increase in capital value of 3.3% to £7,328 million
  • Net revenue, paid to the Treasury, rise by 5.6% to £211 million
  • An increase in property value of 0.2% to £6,584 million

Latest News Headlines

£211.4m Profit of for Benefit of Taxpayer

2008 Business Awards

2008 Corporate Responsibility Report Launched

Potential Eco-Town Consultation at Former RAF Site

Purchase of 50% share in Shopping Park

Round 3 Offshore Windfarm Development Launched

South Africa House

 

Press Release

THE CROWN ESTATE APPOINTS FORSTERS FOR CITY, MIDTOWN, WESTMINSTER AND KENSINGTON PORTFOLIO AND BURGES SALMON FOR REGIONAL PROPERTY PORTFOLIO

24 July 2006

The Crown Estate has announced that following a competitive tender process, Forsters has been appointed to provide legal services for their City, Midtown, Westminster And Kensington property portfolio. The appointment takes effect from 31 July 2006 and is for 3 years. This is the first time that Forsters have been appointed to provide legal services for The Crown Estate.

Burges Salmon has also been reappointed as the legal services provider for The Crown Estate’s Regional property portfolio for a 3 year term commencing 31 July 2006.

Both announcements signal the completion of The Crown Estate’s restructuring of legal services for its urban property portfolio; aimed at delivering a more efficient and customer focused service. Where previously eight firms were employed, now there are four: Forsters, Burges Salmon, SJ Berwin (Regent Street) and Pemberton Greenish (Residential), appointed earlier in the year.

The City, Midtown, Westminster and Kensington portfolio includes commercial, retail and residential space. The Regional portfolio includes all of our commercial properties outside central London including retail and business parks and the newly acquired vehicle distribution centre in Avonmouth.

Vivienne King, Head of Legal at The Crown Estate, said: “I’m very pleased to make these appointments to complete the review of our legal services for our urban commercial property portfolio. It is particularly pleasing both to be in a position to reappoint Burges Salmon given the merit of their past performance and to appoint Forsters, the specialist property practice, as an entirely new firm to The Crown Estate.

“Burges Salmon has provided legal services for our Regional portfolio for four years and have proven their understanding of our approach, our commitment to good customer service and the requirement to act with the utmost integrity. Now we have a complete legal panel for our urban portfolio we are looking forward to applying the highest standards of service for customers and colleagues alike.”

Sophie Hamilton, senior partner at Forsters, who will lead the team working for The Crown Estate, said: “We are delighted to have won this appointment.  Forsters has considerable experience in commercial and retail property and in acting for London estates and we look forward to bringing these strengths to bear on behalf of The Crown Estate.”

Bob Smyth, Senior Partner and Client Partner at Burges Salmon, said: “This reappointment to the Regional portfolio, particularly when coupled with our appointment at the end of last year to the St James’s portfolio and the other work we do for The Crown Estate, is very gratifying. It is a reflection, I believe, of the hard work and commitment to quality of the client team here at all levels. Our own approach to client service mirrors in many ways the approach of The Crown Estate. It has a genuine commitment to providing a first class 21st century service to its own customers. We are very happy to have been selected to play a part in delivering that service.”

Further Information