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The Guardian - UK
The Guardian - UK
National
Alex Lawson Energy correspondent

Queen’s ‘seabed rights’ swell to value of £5bn after auction of plots

Crown Estate Crown Dan Labbad Robert Allen London Queen Elizabeth II
Wind turbines of Hornsea 1, off the Yorkshire coast, North Sea
Wind turbines of the Hornsea 1 project, off the Yorkshire coast, North Sea, in an area leased by the crown estate. Photograph: Orsted/EPA

The value of rights owned by the Queen’s property company to exploit the seabed around Britain’s coastline has swelled to £5bn after a record-breaking auction of plots for offshore windfarms.

Profits for the crown estate, which generates money for the Treasury and the royal family, jumped by £43.4m to £312.7m in the year to the end of March.

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