Crown Estate Scotland generated £11.4m for Scottish Government in 2018-19
Crown Estate Scotland has generated £11.4 million for the Scottish Government in 2018-19.
The organisation has also delivered on key projects designed to deliver benefit for Scotland and increase community input into how Scottish Crown Estate is managed.
Crown Estate Scotland’s 2018-19 annual report and accounts have this week been laid in the Scottish Parliament.
All revenue profit is returned to the Scottish Government and capital is reinvested in the Scottish Crown Estate, including improving property and infrastructure to benefit tenants’ businesses and homes.
The annual report and accounts show that Crown Estate Scotland, which manages land, property and seabed across Scotland, continued its strong commercial performance, benefitting the public purse, as well as working to deliver wider social, environmental and economic value.
Highlights from the 2018-19 annual report include:
- £11.4m revenue profit returned to The Scottish Government for public spending, against target of £7.3m
- The launch of the Local Management Pilots Scheme, enabling communities and local authorities to apply to manage Scottish Crown Estate assets
- The development of ScotWind Leasing, a new offshore wind leasing process for future projects in Scottish waters, which will play a key part in helping Scotland reach its net zero emissions targets
- Investment of £4.4m capital in the rural estate, including new buildings, water and electrical supply improvements and tenancy restructures
- Facilitating a number of major ports and harbours projects around the country.
Simon Hodge, chief executive of Crown Estate Scotland, said: “Following an impressive first year, we set ambitious targets for 2018-19. It’s fantastic to not only meet but to surpass these.
“Beyond our strong financial results, this report outlines how we are working closely with communities and key industries to sustainably develop and derive benefit from Scottish Crown Estate land and property.
“With long-term clarity following the passing of The Scottish Crown Estate Act, we’re already looking forward to the challenges and opportunities which lie ahead.”