London, UK – 1st July, 2025 –The Crown Estate has reported a net revenue profit of £1.1 billion for 2024/25, marking a significant financial milestone largely fueled by Offshore Wind Leasing Round 4. This milestone brings its total contribution to the UK Treasury to £5 billion over the past decade, reinforcing its critical role in supporting the nation’s finances. The passage of the Crown Estate Act 2025 in March has granted new borrowing and investment powers, positioning the organization to deliver enhanced financial, social, and environmental value across its diverse portfolio.
The Crown Estate’s Marine portfolio continues to spearhead the UK’s renewable energy ambitions. Offshore Wind Leasing Round 4 is projected to deliver up to 8GW of clean energy, capable of powering eight million homes. In June 2025, Round 5 advanced with Equinor and Gwynt Glas (a joint venture between EDF Renewables UK and ESB) named as preferred bidders. The Capacity Increase Programme is set to add 4.7GW to the UK’s existing 12GW offshore wind capacity, contributing to a 50GW national pipeline, including 17GW in planning or consented and 13GW under construction or contracted. To support this expansion, The Crown Estate has committed £400 million to enhance port and supply chain infrastructure for offshore wind. The Marine portfolio’s valuation adjusted to £3.4 billion from £4.4 billion as Round 4 income was realized, with annual income from Round 4 expected to normalize to £25 million from January 2026.
The Crown Estate’s urban portfolio saw significant growth, with London assets valued at £7.1 billion and regional assets at £1.5 billion. In London, one million square feet of commercial space is being redeveloped through a £490 million pipeline, complemented by a partnership with Westminster City Council to transform Regent Street, Haymarket, and Piccadilly Circus. The London commercial portfolio outperformed the MSCI benchmark by 1%, while the regional portfolio surpassed it by 4%. Sustainability efforts have reduced energy consumption across the real estate portfolio by 20% since the 2021/22 baseline. Future plans include a £1.5 billion redevelopment of Cambridge Business Park to create science and innovation hubs spanning eight million square feet. A major 50/50 joint venture with Lendlease, announced in May 2025, aims to deliver 10 million square feet of commercial space, 26,000 homes, and 100,000 jobs, with a potential gross development value of £24 billion. The strategic land pipeline could yield 56,000 new homes, with planning underway for over 5,000.
In its rural portfolio, The Crown Estate manages 15,000 acres under Environmental Farm Business Tenancy agreements, balancing sustainable farming with economic viability. The Ambition for Nature framework, published in 2025, outlines commitments to drive nationwide nature recovery. The £20 million Rural Environment Fund has facilitated the planting of 200 miles of hedgerows and 700 acres of woodland, while the Windsor Estate added 2,000 trees and 30,000 plants as part of a landscape restoration initiative.
With a net asset value of £15.0 billion, The Crown Estate demonstrated resilience despite a £1 billion Marine portfolio valuation adjustment. The underlying business generated a net revenue profit of £366 million for 2024/25. The Crown Estate Act 2025 has unlocked greater investment flexibility, enabling long-term growth.
In an official press release, Dan Labbad, CEO of The Crown Estate, stated: “Across our diverse portfolio, we are laying the foundations for dependable long-term growth — supporting housing delivery, advancing vital industries such as science and technology, promoting regenerative agriculture, and driving sustainable urban development. We are also strengthening the UK’s energy security by working closely with our customers and partners to bring stability to the offshore wind sector. Thanks to new legislation, we now have greater flexibility to invest across our portfolio, increasing our resilience and potential, and enabling us to create lasting benefits for the country and its finances.”
The Crown Estate’s multifaceted contributions in energy, real estate, and environmental initiatives underscore its crucial role in building sustainable economic growth for the United Kingdom.