The Crown Estate posted a £1.1 billion net revenue profit for the 2024/25 financial year, largely driven by option fees from the UK’s Round 4 offshore wind leasing process, the organisation said on Tuesday.
The profit brings the Crown Estate’s total contribution to the UK Treasury to £5 billion over the past decade. New borrowing and investment powers granted under the Crown Estate Act 2025 will enable expanded capital deployment across its marine, urban and rural portfolios.
Chief Executive Dan Labbad said the new legislative framework would support the Crown Estate’s evolving role. “These new powers enable us to create lasting benefits for the country and its finances,” he said.
The estate’s net asset value fell slightly to £15.0 billion, down from £15.5 billion the previous year, reflecting the accounting of Round 4 offshore wind income. However, valuations for its urban and rural assets increased.
Offshore wind remains a central focus, with Round 4 expected to deliver up to 8 gigawatts (GW) of capacity. A further 4.5GW of floating wind is targeted through Round 5. The Crown Estate also confirmed plans for a £400 million port and supply chain fund to support the UK’s offshore wind industry.
In its urban portfolio, the estate is upgrading one million square feet of property in London and advancing a £1.5 billion science and innovation hub at Cambridge Business Park. A conditional joint venture with developer Lendlease could deliver up to 10 million square feet of commercial space and 26,000 new homes.
Across its wider strategic land holdings, the Crown Estate has identified the potential for 56,000 homes, with 5,000 expected to enter planning in 2025.
The real estate portfolio has achieved a 20% reduction in energy use compared with a 2021/22 baseline. Environmental initiatives also continued across rural holdings, with 15,000 acres now under environmental farm tenancies and 2,000 trees planted at the Windsor Estate during the year.
