Crown Estate’s U.K. Property Rises Almost 10% to $15.8 Billion
ByThe Crown Estate, the property company that generates income for Queen Elizabeth II, said the value of its real estate rose 9.7 percent to a record 12 billion pounds ($15.8 billion).
Total return, comprising of rental income and value increases, from its properties, wind farms and other assets was about 17 percent over the past year, the London-based company said in a statement on Tuesday. The real estate includes most of the St. James’s district in London’s West End.
Crown Estates said it expects an “extended period of uncertainty and volatility” after the U.K. voted last week to exit the European Union. The result prompted the resignation of Prime Minister David Cameron, who said it would tip the country into recession…
Crown Estate’s U.K. Property Rises Almost 10% to $15.8 Billion
