Crown Estate Scotland returns £11.4m for Scots Govt

Crown Estate Scotland said it raised £32.4 million of capital against a target of £10.6 million and returned £11.4 million revenue to the Scottish Government against a target of £7.3 million in 2018-19 .

The organisation’s 2018-19 annual report and accounts show that Crown Estate Scotland, which manages land, property and seabed across Scotland, continued its strong commercial performance.

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.

Highlights from the 2018-19 annual report include:

  • The launch of the Local Management Pilots Scheme, enabling communities and local authorities to apply to manage Scottish Crown Estate assets
  • The development of ScotWind Leasing, a new offshore wind leasing process for future projects in Scottish waters, which will play a key part in helping Scotland reach its net zero emissions targets
  • Investment of £4.4m capital in the rural estate, including new buildings, water and electrical supply improvements and tenancy restructures
  • Facilitating a number of major ports and harbours projects around the country

Crown Estate Scotland CEO Simon Hodge 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.”

Crown Estate Scotland is currently consulting on its draft 2020-23 Corporate Plan and is keen to hear from a wide range of people and organisations to help shape the future work of the organisation.

The consultation closes on 25 November 2019 and can be found here.