Crown Estate Scotland
- Manages land and property on behalf of Scottish Ministers. The assets are owned by the Monarch in right of the Crown and management is devolved to ministers
- Was established in April 2017 to replace The Crown Estate in Scotland
- Has offices in Edinburgh and Glenlivet
- Works with Scottish Government, Scottish Parliament, local authorities, communities and businesses in sectors such as offshore renewables, farming, tourism and aquaculture
The assets we manage include
- 37,000 hectares of rural land with agricultural tenancies, residential and commercial properties and forestry on four rural estates (Glenlivet, Fochabers, Applegirth and Whitehill)
- Rights to fish wild salmon and sea trout in river and coastal areas
- Virtually all the seabed (out to 12 nautical miles) including leases for approx. 750 aquaculture sites
- Agreements with cable and pipeline operators
- Just under half the foreshore, including 5,800 moorings and some ports and harbours
- The rights to renewable energy and gas (including carbon dioxide) storage out to 200 miles
- Retail and office units at 39-41 George Street Edinburgh
- The Zero-Four development land near Montrose
- Certain mineral rights including the extraction of naturally-occuring gold and silver across most of Scotland
Crown Estate Scotland started operating in April 2017. In 2016/17, our predecessor in Scotland, The Crown Estate
- Had gross revenue of £18 million. This was higher than previous years (cf 2015/16 £14m), with much of the increase due to the reconciliation of rental income for the period up to devolution. This was mainly related to the treatment of aquaculture income, specifically from finfish farming, and stems from the requirements of The Crown Estate Transfer Scheme 2017 which provided for the devolution of The Crown Estate’s management role in Scotland. Therefore, gross revenue for 2017/18 is predicted at £14.7 million, see Annex 2 of our business plan for more detail.
- Held property worth £275.7 million.
- Invested £7.7 million (gross) in Scotland. Net capital investment was £1.5 million.
- Had capital receipts of £6.2 million.
NB. All figures above relate to activity in Scotland only.
These 2016/17 figures do not include central support costs incurred by The Crown Estate for services that were provided by the London office to the business as it operated then in Scotland.
Now that the management of the Scottish assets has been transferred to Crown Estate Scotland, future accounts published will take account of support costs to more accurately reflect the performance of the portfolio.
For further information please contact our team at email@example.com