Our business model

Our business model enables the delivery of our purpose, brilliant places through conscious commercialism.

It defines our approach to doing business: taking a long-term view, working in partnership with our customers and creating destinations that are relevant, attractive and profitable.

We specialise in sectors where we have critical mass and expertise, focusing our activities on where we can generate a competitive advantage and outperform the market.

Our principal focus is on achieving our financial and non-financial targets, and doing so while being conscious of our wider impact on our stakeholders, communities and the environment.

Our Annual Report 2018/19

What we do

We create brilliant places where people want to be. We believe this approach will deliver enduring returns over the long term.


We buy assets throughout the market cycle where we have the scale and expertise to generate outperformance. We sell assets to recycle capital into the business, funding future acquisitions and our development pipeline.


Our development activity focuses on future opportunities within our principal sectors. Our aspiration is to develop brilliant places and attractive destinations that are responsive to the needs of our customers, visitors and communities.


We aim to deliver exceptional service and create great experiences. Working alongside our customers, we look to refine and improve our offer in response to their needs and business objectives.

What we rely on and the value we create

We draw upon six capitals to deliver in line with our business model.

Financial resources
Financial capability to run our business.


4.3% year-on-year increase in net revenue profit

Physical resources
Property, plant and equipment we own and use.


capital spent on acquisitions, developments and capital improvements

Natural resources
The natural resources that we manage and use.


operational waste recycled

Our people
The skills and experience of our employees.


employees 'proud to work' for The Crown Estate

Our know-how
Our collective expertise and processes.


average training per employee p.a.

Our networks
Our relationships with stakeholders including customers, partners and communities.


funds managed on behalf of our strategic joint venture partners

Our contribution to the Treasury

Impact measurement
Total Contribution applies economic multipliers to a number of non-financial metrics in order to create a comparable assessment of outcomes. We report on a number of these metrics.

View our Total Contribution

Our annual net revenue profit is paid to the Treasury.


generated for the Treasury in the last ten years

Reinvestment into the business

We access capital to invest in our portfolios, both through strategic partnerships and the sale of assets where we have completed our asset management plans.

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