Queen’s estate loses MILLIONS as Royal Family counts the cost of the ...

THE QUEEN'S sprawling estate has lost millions of pounds as even the Royal Family feels the bite of the coronavirus pandemic.

PUBLISHED: 14:25, Fri, Sep 18, 2020 | UPDATED: 15:08, Fri, Sep 18, 2020

Shock figures show land and property belonging to the monarch's Crown Estate, including London’s Regents Street, St James’s and retail parks across the UK, have fallen in value by £552.5million as rental income from shops falls following the UK lockdown to fight the COVID-19 crisis. The monarch’s empire is now worth £13.4billion, according to annual figures published today.

{%=o.title%}

Before March, when the UK went into a nationwide lockdown, the estate had enjoyed profits of £345million.

Profits go to the Treasury, which is then passed back to the Firm in the form of a Sovereign Grant.

But recent figures show the Crown Estates has managed to collect just 52 percent of rents from retail tenants in central London and 53 percent outside the capital this year.

queen newsThe Queen's estate has lost millions, according to the latest figures (Image: GETTY )

queen newsby £552.5million as rental income from shops falls following the UK lockdown to fight the COVID-19 crisis. The monarch’s empire is now worth £13.4billion, according to annual figures (Image: GETTY )

The rental income from officers in central London is 88 percent.

However Dan Labbad, the Crown Estate's chief executive, said things were looking up.

He added: “We've seen most of our retail and food and beverage come back and want to open where they are still trading.

READ MORE: Queen nightmare: Royal Family to lose MILLIONS due to Brexit

queen newsThe Queen's estate includes Regents Street (Image: GETTY )

Related articles
Queen nightmare: Royal Family to lose MILLIONS due to Brexit
Remainer claimed Brexit 'puts abolishing monarchy on table'

“There have been a number of company voluntary arrangements (CVAs) and administrations.”

read more.....

NEXT Jamie Redknapp in admission about family ‘rows’ ‘That’s not easy’