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The CROWN ESTATE is a collection of lands and holdings in the United Kingdom belonging to the British monarch as a corporation sole , making it the "Sovereign's public estate", which is neither government property nor part of the monarch's private estate. As a result of this arrangement, the sovereign is not involved with the management or administration of the estate, exercising only very limited control of its affairs. Instead, the estate's extensive portfolio is overseen by a semi-independent, incorporated public body headed by the CROWN ESTATE COMMISSIONERS, who exercise "the powers of ownership" of the estate, although they are not "owners in their own right". The revenues from these hereditary possessions have been placed by the monarch at the disposition of Her Majesty\'s Government and thus proceed directly to Her Majesty\'s Treasury for the benefit of the British nation. The Crown Estate is formally accountable to the Parliament of the United Kingdom
Parliament of the United Kingdom
, where it is legally mandated to make an annual report to the sovereign, a copy of which is forwarded to the House of Commons.

The Crown Estate is one of the largest property managers in the United Kingdom, overseeing property worth £12 billion, with urban properties valued at £9.1 billion representing the majority of the estate by value. These include a large number of properties in central London, but the estate also controls 792,000 ha (1,960,000 acres) of agricultural land and forest, more than half of the UK's foreshore , and retains various other traditional holdings and rights, including Ascot Racecourse and Windsor Great Park . Naturally occurring gold and silver in the UK, collectively known as "Mines Royal", are managed by the Crown Estate and leased to mining operators.

Historically, Crown Estate properties were administered by the reigning monarch to help fund the business of governing the country. However, in 1760, George III
George III
surrendered control over the Estate's revenues to the treasury, thus relieving him of the responsibility of personally paying for the costs of the civil service, defence costs, the national debt, and his own personal debts. In return, he received an annual grant known as the Civil list . By tradition, each subsequent monarch agreed to this arrangement upon his or her accession. However, from 1 April 2012, under the terms of the Sovereign Grant Act 2011 (SSG), the Civil List was abolished and the monarch was thenceforth provided with a stable source of revenue indexed to a percentage of the Crown Estate's annual net revenue (currently set at 15%). This was intended to provide a long-term solution and remove the politically sensitive issue of Parliament having to debate the Civil List allowance every ten years. Subsequently, the Sovereign Grant Act allows for all future monarchs to simply extend these provisions for their reigns by Order in Council. The act does not imply any legal change on the nature of the estate's ownership but is simply a benchmark by which the sovereign grant is set as a grant by Parliament.

CONTENTS

* 1 History

* 1.1 Crown land in England and Wales
England and Wales
* 1.2 Crown land in Ireland * 1.3 Crown land in Scotland * 1.4 Crown Estate Scotland

* 2 Present day

* 2.1 Crown Estate Act 1961

* 2.2 Holdings

* 2.2.1 Urban portfolio * 2.2.2 Rural portfolio * 2.2.3 Windsor Estate * 2.2.4 Marine holdings * 2.2.5 Other rights and interests

* 2.3 Finances

* 3 Governance

* 3.1 Historical * 3.2 Chairmen and chief executives of the Crown Estate Commissioners

* 4 See also * 5 Notes * 6 References * 7 External links

HISTORY

CROWN LAND IN ENGLAND AND WALES

The history of the Crown lands in England and Wales
England and Wales
begins with the Norman conquest
Norman conquest
. When William I died, the land he had acquired by right of conquest was still largely intact. His successors, however, granted large estates to the nobles and barons who supplied them with men and arms. The monarch's remaining land was divided into ROYAL MANORS, each managed separately by a seneschal . The period between the reigns of William I and Queen Anne was one of continuous alienation of lands. The Crown lands were augmented as well as depleted over the centuries: Edward I extended his possessions into Wales
Wales
, and James VI & I had his own Crown lands in Scotland which were ultimately combined with the Crown lands of England and Wales. However, the disposals outweighed the acquisitions: at the time of the Restoration in 1660, the total revenue arising from Crown lands was estimated to be £263,598 (equal to £35,690,675 today). By the end of the reign of William III (1689–1702), however, it was reduced to some £6,000 (equal to £886,054 today).

Before the reign of William III all the revenues of the kingdom were bestowed on the monarch for the general expenses of government. These revenues were of two kinds:

* the hereditary revenues, derived principally from the Crown lands, feudal rights (commuted for the hereditary excise duties in 1660), profits of the post office, with licences, this created a personal debt for the monarch.

On George III's accession he surrendered the income from the Crown lands to Parliament, together with abrogating responsibility for the cost of the civil government and the clearance of associated debts. As a result, and to avoid pecuniary embarrassment, he was granted a fixed civil list payment and the income retained from the Duchy of Lancaster . The King surrendered to parliamentary control the hereditary excise duties, post office revenues, and "the small branches" of hereditary revenue including rents of the Crown lands in England (which amounted to about £11,000, or £1,499,917 today), and was granted a civil list annuity of £800,000 (equal to £109,084,906 today) for the support of his household, subject to the payment of certain annuities to members of the royal family.

Although the King had retained large hereditary revenues, his income proved insufficient for his charged expenses because he used the privilege to reward supporters with bribes and gifts. Debts amounting to over £3 million (equal to £216,265,586 today) over the course of George's reign were paid by Parliament, and the civil list annuity was then increased from time to time.

Every succeeding sovereign down to and including Elizabeth II
Elizabeth II
renewed the arrangement made between George III
George III
and Parliament and the practice was, by the nineteenth century, recognised as "an integral part of the Constitution would be difficult to abandon". Nevertheless, a review of funding arrangements for the monarchy led to the passage of the Sovereign Grant Act 2011 , which according to HM Treasury, is:

A new consolidated grant rounding together the Civil List, Royal Palaces and Royal Travel grants-in-aid. It is intended that future funding will be set as a fraction of The Crown Estate revenue and paid through the annual Treasury Estimates process, and subject to full National Audit Office audit. . . .

The Grant is to enable The Queen to discharge her duties as Head of State. i.e it meets the central staff costs and running expenses of Her Majesty's official Household – such things as official receptions, investitures, garden parties and so on. It will also cover the maintenance of the Royal Palaces in England and the cost of travel to carry out royal engagements such as opening buildings and other royal visits. . . .

While the amount of the Grant will be linked to the profits of the Crown Estate, those profits will continue to be paid in to the Exchequer; they are not to be hypothecated. Setting the Grant at a percentage of profits of the Crown Estate will help to put in place a durable and transparent framework.

In April 2014 it was reported that the Crown Estate is proposing to sell about 200 of its 750 rural homes in the UK but at the same time – * take into account the need to observe a high standard of estate management practice.

* When selling or letting its property the Crown Estate should always seek to achieve the best consideration (i.e. price) which can reasonably be obtained in all the circumstances, but discounting any monopoly value (mainly from ownership of the foreshore and seabed). * The Crown Estate cannot grant leases for a term of longer than 150 years. * The Crown Estate cannot grant land options for more than ten years unless the property is re-valued when the option is exercised. * The Crown Estate cannot borrow money. * Donations can be made for religious or educational purposes connected with the estate or for tenants’ welfare. Otherwise, charitable donations are forbidden. * The character of the Windsor estate (Park and Forest) must be preserved; no part of the estate may be sold. * A report should be submitted to the Queen and to Parliament annually, showing the performance of the estate over the previous year. * The Crown Estate should observe professional accounting practices and distinguish in its accounts between capital and revenue.

* Money received as a premium from a tenant on the granting of a new lease should be allocated between capital and revenue as follows:

* where the lease is for a term of thirty years or less it must be treated as revenue; * for leases of more than thirty years it must be treated as capital.

In 2010 a UK Parliament Treasury Committee report on the Crown Estate, the first for twenty years, reported that

* it is “alarmed” that the Crown Estate in 2007 started investing in joint ventures such as the Gibraltar Limited Partnership, which it says is in “grave” financial difficulties. The Crown Estate owns 50% of the partnership, which owns the Fort Kinnaird retail park near Edinburgh; * the Crown Estate has a monopoly over the marine environment, and has focused too strongly on collecting revenues rather than acting in the long-term public interest around ports and harbours; * the quality of residential property management in the urban estate falls short. Consultation processes have lacked transparency, and the Committee was "particularly concerned" that the Crown Estate had failed to consult local bodies which had rights to nominate key workers; * some non-commercial historic properties should be reviewed with a view to transferring management to conservation bodies such as English Heritage; * Ministers should take a greater interest in the Crown Estate, because its overall management struggles to balance revenue generating with acting in the wider public interest.

Crown Estate chief executive Roger Bright said: “We welcome the Committee’s recognition that we run a successful business operation.”

HOLDINGS

Urban Portfolio

This includes the entirety of Regent Street
Regent Street
and around half of St James\'s in London\'s West End as well as retail property across the UK in locations including Oxford
Oxford
, Exeter
Exeter
, Nottingham
Nottingham
, Newcastle , Harlow
Harlow
and Swansea
Swansea
.

In 2002 the Crown Estate began implementing a £1 billion investment programme to improve Regent Street's commercial, retail and visitor facilities and public realm. In addition, they are investing £500 million in St James's, including a number of major redevelopments.

Rural Portfolio

Holdings consist of around 144,000 hectares (356,000 acres) of agricultural land and forests, together with minerals and residential and commercial property.

Agricultural interests Agricultural interests include both livestock and arable farming. Consisting of around 106,000 hectares (263,000 acres) across the UK, they also include 26,900 hectares (66,500 acres) of common land, principally in Wales.

Salmon fishings The legal rights to salmon fishings on many rivers in Scotland.

Forestry Almost 11,000 hectares (27,000 acres) of forestry, including areas in Somerset
Somerset
and Glenlivet .

Minerals Rights to extract minerals covers some 115,500 hectares (285,500 acres). Actual operations include 34 lettings, extracting sand, gravel, limestone, granite, brick clay, coal, slate and dimension stone.

Windsor Estate

The Windsor Estate covers approximately 6,300 hectares and includes Windsor Great Park , the Home Park of Windsor Castle , extensive forests, residential and commercial properties, golf courses, a racecourse and let farms.

Commercial and residential Offices, retail and hotel 250 hectares

Leisure Golf clubs/ Ascot Racecourse 250 hectares

Agriculture Farms 1,200 hectares

Parkland Home Park /Great Park 1,600 hectares

Forestry Woodland areas 3,100 hectares

Marine Holdings

The Crown Estate's marine holdings consist of:

Foreshore
Foreshore
Approximately 55% of the UK's foreshore is owned by the Crown Estate; other owners of UK foreshore include the Duchy of Cornwall
Duchy of Cornwall
and the Duchy of Lancaster
Duchy of Lancaster
. In Orkney
Orkney
and Shetland, the Crown does not claim ownership of foreshore.

Territorial seabed The Crown Estate owns virtually all of the UK's seabed from mean low water to the 12-nautical-mile (22 km) limit.

Continental shelf and extraterritorial rights Sovereign rights of the UK in the seabed and its resources vested by the Continental Shelf Act 1964 (sub-soil and substrata below the surface of the seabed, but excluding oil, gas and coal), the Energy Acts 2004 (renewable energy) and 2008 (gas and carbon storage).

The Crown Estate plays a major role in the development of the offshore wind energy industry in the UK. Other commercial activity managed by the Crown Estate on the seabed includes wave and tidal energy, carbon capture and storage, aggregates, submarine cables and pipelines and the mining of potash . In terms of the foreshore, the Crown Estate issue licences or leases for around 850 aquaculture sites and owns marina space for approximately 18,000 moorings.

Other Rights And Interests

Other rights and interests include:

Shopping centres CrownGate Shopping Centre
CrownGate Shopping Centre
, Worcester
Worcester
.

Westgate Shopping Centre in Oxford
Oxford
and Princesshay Shopping Centre in Exeter
Exeter
are a 50:50 joint venture partnership with Land Securities
Land Securities
. The Crown Estate also has a 4.97% share of Lend Lease Retail Partnership which provides an equity interest in the Bluewater Shopping Centre in Kent and the Touchwood Shopping Centre in Solihull.

Retail parks Crown Point Shopping Park in Leeds
Leeds
, MK1 Shopping Park in Milton Keynes , Aintree Shopping Park in Merseyside, Altrincham Retail Park in Trafford
Trafford
, Bath Road Shopping Park in Slough
Slough
, Morfa Shopping Park in Swansea
Swansea
, Ocean Retail Park in Portsmouth
Portsmouth
, Queensgate Centre in Harlow
Harlow
, South Aylesford Retail Park in Maidstone
Maidstone
, Apsley Mills Retail Park in Hemel Hempstead , Victoria Retail Park in Nottingham, Morfa Shopping Park in Swansea
Swansea
. Coliseum Retail Park in Cheshire Oaks, Ellesmere Port
Ellesmere Port
has been bought for £81m.

Edinburgh
Edinburgh
's Fort Kinnaird , Cheltenham
Cheltenham
's Gallagher Retail Park and Warwick
Warwick
's Leamington Shopping Park are owned 50/50 through "The Gibraltar Limited Partnership" with The Hercules Unit Trust, a Jersey -based property unit trust. The estate recently purchased the new Rushden Lakes site in Northamptonshire from its developers.

Retail/office buildings Princes Street, London W1B (near Oxford
Oxford
Circus ) with a 66.67% interest.

Savoy Estate apportionment Right to receive 23% of the income from the Duchy of Lancaster's Savoy Estate in London.

Native mussels and oysters in Scotland Wild crustaceans (does not include cultivated crustaceans)

Reversionary and contingent interests Some properties are sold by the Crown Estate for public benefit (such as educational or religious use) with a reverter clause, which means ownership may revert to the Crown Estate in the event of a change of use.

Hereditary properties of the monarch currently in government use will revert to the Crown Estate in the event of the government use ceasing.

Escheated land Land that has no owner other than the Crown as lord paramount of the whole soil of the country. Escheat can result from bankruptcy or the dissolution of companies. Freehold land owned by dissolved companies which were registered in England or Wales
Wales
are dealt with by the Treasury Solicitor as bona vacantia .

Licences and right granted at nil rent Includes: water mains, cables, substations and war memorials.

FINANCES

In the 2015/2016 fiscal year, the Crown Estate's property evaluation was £12 billion with a £304.1 million net revenue profit (up 6.7%).

GOVERNANCE

HISTORICAL

Previous officials responsible for managing what is now the Crown Estate were:

* Surveyor General of Woods, Forests, Parks, and Chases
Surveyor General of Woods, Forests, Parks, and Chases
and Surveyor General of the Land Revenues of the Crown , 17th century to 1810 * Commissioners of Woods, Forests and Land Revenues , 1810–1831 * Commissioners of Woods, Forests, Land Revenues, Works and Buildings , 1832–1850 * Commissioners of Woods, Forests and Land Revenues , 1851–1924 * Commissioners of Crown Lands , 1924–1954

CHAIRMEN AND CHIEF EXECUTIVES OF THE CROWN ESTATE COMMISSIONERS

CHAIRMEN (FIRST COMMISSIONER)

* 1955–62 – Sir Malcolm Trustram Eve (later Lord Silsoe) (1894–1976) * 1962–77 – The Earl of Perth (1907–2002) * 1977–80 – Lord Thomson of Monifieth (1921–2008) * 1980–85 – The Earl of Crawford and Balcarres (born 1927) * 1985–95 – The Earl of Mansfield and Mansfield (1930–2015) * 1995–2002 – Sir Denys Hartley Henderson (1932–2016) * 2002–2009 – Sir Ian David Grant (born 1943) * 2010–2016 – Sir Stuart Hampson
Stuart Hampson
(born 1947) * 2016– Robin Budenberg (born 1959)

CHIEF EXECUTIVES (SECOND COMMISSIONER)

* 1955–60 – Sir Ronald Montague Joseph Harris (1913–1995) * 1960–68 – Sir Jack Alexander Sutherland-Harris (1908–1986) * 1968–78 – Sir William Alan Wood (1916–2010) * 1978–83 – Sir John Michael Moore (born 1921) * 1983–89 – Dr Keith Dexter (1928–1989) * 1989-2001– Sir Christopher Howes (born 1942) * 2001–2011 Roger Martin Francis Bright (born 1951) * 2012– Alison Nimmo (born 1964)

The chairman (formally titled "first commissioner") is part-time. The chief executive (the "second commissioner") is the only full-time executive member of the Crown Estate's board.

SEE ALSO

* Crown Estate Paving Commission * Duchy of Lancaster
Duchy of Lancaster
* Duchy of Cornwall
Duchy of Cornwall
* Prince\'s Coverts – Area of managed woodland in Oxshott, Surrey * Regent Street
Regent Street
* Windsor Great Park * Balmoral Castle
Balmoral Castle
* Sandringham House

NOTES

* ^ A B C The House of Commons Treasury Committee (2010). The management of the Crown Estate (PDF). London: House of Commons. pp. 5–8. * ^ A B "Sovereign Grant Bill – Further background information provided to Members of Parliament in advance of the Bill\'s Second Reading Debate on 14 July 2011" (PDF). Her Majesty's Treasury. July 2011. Archived from the original (PDF) on 2013-01-29. Retrieved 28 December 2015. * ^ "Who owns The Crown Estate?". The Crown Estate. Retrieved 29 December 2015. * ^ A B "Sovereign Grant Act,2011: Guidance". Her Majesty's Treasury (gov.uk). 2011. Retrieved 29 December 2015. * ^ A B " Crown Estate Act, 1961" (PDF). Her Majesty's Stationery Office and Queen's Printer of Acts of Parliament. 1961. pp. 5–7. Retrieved 31 December 2015. * ^ "The Crown Estate – Who We Are". The Crown Estate. Retrieved 29 December 2015. * ^ "Gracious Message from the Queen to the House of Commons re: Sovereign Grant" (PDF). Buckingham Palace. 2011. Archived from the original (PDF) on 2013-01-29. Retrieved 29 December 2015. * ^ A B "FAQs". The Crown Estate. Archived from the original on 3 September 2011. Retrieved 20 October 2008. * ^ " Crown Estate makes record £304m Treasury payout". BBC News. 28 June 2016. Retrieved 28 June 2016. * ^ "Integrated Annual Report 2015/16" (PDF). The Crown Estate. Retrieved 19 October 2016. * ^ "Schedule of The Crown Estate\'s properties rights and interests June 2015" (PDF). The Crown Estate. Retrieved 19 October 2016. * ^ "Our Portfolio". The Crown Estate. Retrieved 19 October 2016. * ^ "Commercial Development of Mines Royal". The Crown Estate. Retrieved 19 October 2016. * ^ Pugh, p 3 * ^ Pugh. pp. 3–4 * ^ Commissioners of Enquiry, s. 38 * ^ Pugh, p. 5 * ^ Commissioners of Enquiry, s. 26 * ^ A B C H M Treasury "Blue Note", Class X, 2, 1912 * ^ A B C Best, p. 1 * ^ A B C Best, p. 2 * ^ The Guardian, "The royal family and the public purse", March 6, 2000 * ^ A Student\'s Manual of English Constitutional History by Dudley Julius Medley, pg. 501, 1902 * ^ Ilbert, C. P., The Times
The Times
, 14 August 1871, p. 4 * ^ United Kingdom. Her Majesty\'s Treasury. "Sovereign Grant Act: frequently asked questions relating to the Act and on general issues." Archived 29 January 2013 at the UK Government Web Archive Accessed 2 May 2013. * ^ http://www.bbc.co.uk/news/uk-england-27141985 * ^ http://www.thecrownestate.co.uk/news-media/news/2014/rural-residential-interests-rebalanced-towards-strategic-land/ * ^ Commissioners' Report for 1853, p. 601, and 1855, pp. 42–43 * ^ Commissioners' Report for 1855, p.47 * ^ A B Pugh, p. 17 * ^ Jim and Margaret Cuthbert (18 August 2011). "The Sovereign Grant Bill: Bad for Scotland and Bad for the UK". Bella Caledonia. Retrieved 31 January 2014. * ^ Pugh, p. 18 * ^ Paterson, Wilma "Out of the shadows", The Herald , 13 November 1999, p. 12 * ^ thecrownestate.co.uk * ^ A B C Settle, Michael (22 July 2011). "SNP anger at plan for Crown Estate handout". The Herald . Retrieved 24 July 2011. * ^ Scottish Crown Estate assets transfer to Holyrood, https://ijglobal.com/articles/105711/scottish-crown-estate-assets-transfer-to-holyrood * ^ Crown Estate Act 1961, S. 1(3) * ^ "The Crown Estate Act, Brief Summary", The Crown Estate website, accessed 12 July 2010 * ^ http://www.publicpropertyuk.com/2010/03/30/treasury-committee-slates-crown-estate/ * ^ Crown estate news * ^ http://www.thecrownestate.co.uk/rural/what-we-do/ * ^ http://www.thecrownestate.co.uk/rural/agriculture/ * ^ http://www.thecrownestate.co.uk/rural/agriculture/scottish-salmon-fishings/ * ^ http://www.thecrownestate.co.uk/rural/forestry/ * ^ A B C D E F http://www.whatdotheyknow.com/request/82006/response/209727/attach/5/schedule%20of%20properties%20rights%20and%20interests.pdf * ^ http://completelyretail.co.uk/portfolio/CrownEstates/scheme/Morfa-Shopping-Park-Swansea/index * ^ " Crown Estate Financial Information". Crown Estate. 2016. Retrieved 24 October 2016. * ^ Crown Estate Publication scheme, accessed 8 July 2009