Brexit to impact Crown Estate

The Royal Family’s commercial property arm has delivered a record return to the Treasury.

The Crown Estate said its income return had hit a new high, rising 8.1% to £328.8 million for 2016-17 in contrast to the year before.

The boost was underpinned by rubber stamping leasing agreements on finished developments, including London’s St James’s Market.

However, chief executive Alison Nimmo said returns were likely to be subdued in the months ahead as the firm grapples with the fallout of Britain’s Brexit negotiations.