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Crown Estate generates £11.4m for Scottish Government in 2018

Simon Hodge, chief executive of Crown Estate Scotland
Simon Hodge, chief executive of Crown Estate Scotland

Crown Estate Scotland generated £11.4 million for The Scottish Government last year.

The organisation’s 2018-19 annual report and accounts have now been laid in the Scottish Parliament.

All revenue profit is returned to the Scottish Government and capital is reinvested in the Scottish Crown Estate, including improving property and infrastructure to benefit tenants’ businesses and homes.

The annual report and accounts show that Crown Estate Scotland, which manages land, property and seabed across Scotland, made £11.4m in revenue profit which was returned to The Scottish Government for public spending. This was against target of £7.3m.

There has also been investment of £4.4m capital in the rural estate, including new buildings, water and electrical supply improvements and tenancy restructures.

The Crown Estate has also facilitated a number of major ports and harbours projects around the country.

Simon Hodge, chief executive, said: “Following an impressive first year, we set ambitious targets for 2018-19. It’s fantastic to not only meet, but to surpass these.

“Beyond our strong financial results, this report outlines how we are working closely with communities and key industries to sustainably develop and derive benefit from Scottish Crown Estate land and property.

“With long-term clarity following the passing of The Scottish Crown Estate Act, we’re already looking forward to the challenges and opportunities which lie ahead.”

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