Crown Estate hits £1bn profit again
The Crown Estate has reported a £1bn profit for the third year running, largely fuelled by a boom in offshore windfarm leases. The estate, which manages the British monarchy's property portfolio, said its net revenue profit reached £1.02bn for the financial year ending March 2026, matching the record set in 2025.
Offshore wind drives record revenues
The surge in profits was driven by the Crown Estate's seabed leasing programme for offshore wind farms. The estate has granted leases for six new windfarm projects, adding 8GW of capacity, and expects to generate further income from future rounds. According to the estate, the seabed portfolio now accounts for over 40% of its total revenue.
King Charles's income rises
The profits directly benefit the monarchy, as the Crown Estate's surplus is paid to the Treasury, which in turn funds the Sovereign Grant – the annual payment to the royal household. The Sovereign Grant for 2027-28 is set at £86m, up from £81m the previous year, reflecting the estate's strong performance. A spokesperson for the Crown Estate said, “The continued success of our offshore wind programme demonstrates the value of the estate's long-term strategy in supporting the UK's net-zero ambitions.”
Impact on public finances
The £1bn profit also contributes to the public finances, with the Treasury receiving the surplus after deducting costs. The estate's total assets under management have grown to £16bn, driven by rising valuations of its seabed and property holdings. Critics have questioned the concentration of wealth in the monarchy, but supporters point to the Crown Estate's role in funding renewable energy infrastructure.
