×

The British Queen gets a bumper property payout

Her country might be tearing itself apart over Brexit but in the meantime, the property portfolio of the U.K.'s royal family is delivering bountiful returns for Queen Elizabeth II.

The Crown Estate, which among other assets owns London's Regent Street and the entire U.K. seabed, delivered a record £304.1 million ($406 million) to the Treasury in 2016 after the value of its portfolio rose to £12 billion.

Mark Cuthbert | UK Press | Getty Images

In a statement the estate management team highlighted upgrades to London's West End properties, and sales of residential properties.

The estate also brought in £22.9 million over the year from leasing the country's seabed to offshore wind farms.

"We have secured our long-term sustainable growth through the active management of world-class office and retail destinations, the strength and timing of the largest development pipeline in our history, together with the U.K.'s world leading position in offshore wind," said Alison Nimmo, Chief Executive of The Crown Estate on Tuesday.


Queen’s takings

Once the returns are delivered to the U.K. Treasury, an amount known as the 'Sovereign Grant', is sliced off and returned to the Queen.

This year the Queen received a grant of nearly £43 million, currently calculated as 15 percent of the Crown Estate's profits.

That figure is based on a 2014/2015 payment to Treasury of £285 million pounds.

Under 2016's improved returns, the Queen will be set to land in excess of £45 million from her property portfolio.

That figure could fall though as the government and a senior royal official are this year scheduled to carry out a review of the grant's terms.