The falls in the value of property has hit everyone, not even the Queen was immune (or was it “not amused”?). The value of Crown Estates, which runs the Queens property portfolio, fell from £7.3 billion to £6 billion in the 12 months to March 2009. This represents a staggering 18% fall in value in just 12 months.
The Crown Estates portfolio includes over 1000 properties, many of which are listed buildings, so not your normal family homes. On the positive side for the Queen, despite the fall in property values Crown Estates actually increased its overall profit by around 6% to £226 million – the increase was understood to come from non-property revenue sources.
