Calendar An icon of a desk calendar. Cancel An icon of a circle with a diagonal line across. Caret An icon of a block arrow pointing to the right. Email An icon of a paper envelope. Facebook An icon of the Facebook "f" mark. Google An icon of the Google "G" mark. Linked In An icon of the Linked In "in" mark. Logout An icon representing logout. Profile An icon that resembles human head and shoulders. Telephone An icon of a traditional telephone receiver. Tick An icon of a tick mark. Is Public An icon of a human eye and eyelashes. Is Not Public An icon of a human eye and eyelashes with a diagonal line through it. Pause Icon A two-lined pause icon for stopping interactions. Quote Mark A opening quote mark. Quote Mark A closing quote mark. Arrow An icon of an arrow. Folder An icon of a paper folder. Breaking An icon of an exclamation mark on a circular background. Camera An icon of a digital camera. Caret An icon of a caret arrow. Clock An icon of a clock face. Close An icon of the an X shape. Close Icon An icon used to represent where to interact to collapse or dismiss a component Comment An icon of a speech bubble. Comments An icon of a speech bubble, denoting user comments. Ellipsis An icon of 3 horizontal dots. Envelope An icon of a paper envelope. Facebook An icon of a facebook f logo. Camera An icon of a digital camera. Home An icon of a house. Instagram An icon of the Instagram logo. LinkedIn An icon of the LinkedIn logo. Magnifying Glass An icon of a magnifying glass. Search Icon A magnifying glass icon that is used to represent the function of searching. Menu An icon of 3 horizontal lines. Hamburger Menu Icon An icon used to represent a collapsed menu. Next An icon of an arrow pointing to the right. Notice An explanation mark centred inside a circle. Previous An icon of an arrow pointing to the left. Rating An icon of a star. Tag An icon of a tag. Twitter An icon of the Twitter logo. Video Camera An icon of a video camera shape. Speech Bubble Icon A icon displaying a speech bubble WhatsApp An icon of the WhatsApp logo. Information An icon of an information logo. Plus A mathematical 'plus' symbol. Duration An icon indicating Time. Success Tick An icon of a green tick. Success Tick Timeout An icon of a greyed out success tick. Loading Spinner An icon of a loading spinner.

Crown Estate Scotland makes £12m revenue profit, surpassing target of £8m

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

Crown Estate Scotland (CES) made a £12 million revenue profit in its most recent financial year, surpassing its target of £8million to be returned for public spending, according to annual accounts published by the organisation.

The body’s chief executive, Simon Hodge, said it had also developed a number of projects to enable it to make best use of the natural assets it is responsible for during the 12 months to the end of March.

Established in 2017, the public corporation manages land, property and seabed across Scotland on behalf of the Scottish Government.

All revenue profit generated by CES is returned to the public purse, while capital is reinvested in the Scottish Crown Estate for activities such as improving property and infrastructure.

According to the accounts released yesterday, the organisation secured a capital investment fund of £39m in 2019/20 and invested £3m.

The organisation said it had “continued its strong commercial performance” during the year, as well as working to “deliver wider social, environmental and economic value.”

Mr Hodge added: “We have once again returned an above target amount of revenue to the public purse, and have been able to invest in opportunities that will aid Scotland’s green economic recovery in the years to come.

“This is not only about the figures though, impressive though they are. 2019-20 also saw us develop a number of projects to help us to enable our people and organisations to make best use of the natural assets we are charged with managing. We have given new opportunities to tenant farmers, helped to develop understanding of how to grow the Scottish shellfish industry, supported work to tackle marine litter, and much more.”

Earlier this year CES announced Scotland’s first offshore wind leasing round for a decade, which is expected to lead to the development of around 15 new renewables projects, with, according to the organisation, the potential to contribute £8billion to the Scottish economy.

In its annual report, published with the accounts, CES said: “Our new leasing process, ScotWind Leasing, will position Scotland as a world-class investment destination for the projects we need to unlock more economic benefits for communities.

“2019-20 saw us prepare ScotWind for launch by finalising the framework through which the leasing process will progress, as well as working with industry and government to develop measures to help Scottish offshore wind developments benefit from a vibrant supply chain.

“In doing so, we believe ScotWind will support a just transition by stimulating supply chain development and placing Scottish offshore wind projects at the heart of Scotland’ emerging net zero economy.”

CES manages more than 91,000 acres of rural land, with agricultural tenancies, residential and commercial properties and forestry on four rural estates, including Glenlivet and Fochabers, in Moray.

It also responsible for leasing of virtually all seabed, out to 12 nautical miles, covering around 750 fish foaming sites and for management of just under half the foreshore in Scotland, including 5,800 moorings and some ports and harbours.

The organisation also manages rights to naturally occurring gold and silver across Scotland.

Recommended for you

More from Energy Voice

Latest Posts