Profits from the British monarchy’s legacy portfolio of land and property holdings have more than doubled to a record £1.1bn, as it continues to reap the benefits of offshore power deals.
The Crown Estate said on Wednesday its profits had risen by £658.1mn in the last financial year — up from £442.6mn — thanks largely to fees charged to offshore wind developers.
The £15.5bn estate, which plays a key role in British royal finances, owns a swathe of property and a lucrative stretch of seabed up to 12 nautical miles wide that surrounds England, Wales and Northern Ireland.
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