The Crown Estate has posted a profit of £253m, up five per cent on last year, with its capital value rising by seven per cent to more than £8.6bn.
The profits are paid entirely to the UK Treasury, since they manage property on behalf of the Crown – although the portfolio is not the private property of the Queen.
Total property value also stood at £8.1bn, exceeding the £8bn for the first time, with third party funds under management at the end of the financial year totaling £610m.
The urban portfolio outperformed its industry benchmark by 6.5 per cent, with a total portfolio asset worth of £5.9bn.
So far in 2013, the firm has delivered the £100m St James’ Gateway scheme, and established a £320m partnership with Oxford Properties to deliver the St James’ Market project.
The value of the energy and infrastructure portfolio also role 8.2 per cent in 2012/13, reaching £564m, with a total return of 10.6 per cent.
The rural and coastal portfolio, meanwhile, delivered a total return of 13.3 per cent, increasing in value by 3.2 per cent to £1.4bn.
Planning applications have recently been approved for roughly 1,800 new homes, with major schemes at Taunton and Nottinghamshire.
Chairman Sir Stuart Hampson said: “We are proud that another record Crown Estate performance will again make a strong contribution to the nation’s finances.”
Chief Executive Alison Nimmo CBE added: “Today’s results are a ringing endorsement of the quality of our portfolio, our active asset management and our highly skilled team. Despite challenging market conditions, we are well placed as a business with a clear vision and investment strategy, great partners and a strong balance sheet.”