Crown-Owned Coastline Generates Record Rent from Offshore Wind Farms

Profit from the Crown-owned land more than doubled to a record £1.1 billion last year, driven by rents from offshore wind farm developers. Announcing the results on Wednesday, The Crown Estate said earnings increased by more than £658 million during the year ending March 31, from £443 million the previous year. The Crown Estate is a significant national landowner, which owns virtually all the seabed around the UK out to 12 nautical miles, which it leases to wind farm operators. Its £16 billion portfolio is not owned by the government or the monarch personally. Rather is held by the Crown as an institution, with no direct control or management by the reigning monarch King Charles III. All of its net revenue profit goes to the Treasury, some of which also goes to the Royal Family....