Crown Estate Scotland Annual Report and Accounts Year to 31 March 2025

15th January 2026

Crown Estate Scotland (CES) is a public corporation established under the Scottish Crown Estate Act 2019.

It manages a diverse portfolio of assets across Scotland including rural land, seabed rights, foreshore, commercial property and natural resource rights with a primary purpose of creating long-term value for the people of Scotland. Revenues from its activities are returned to the Scottish Government for public spending.

Overall Strategic Purpose and Approach
CES's core mission is to balance short-term revenue generation with long-term capital growth in a sustainable manner. The organisation aims to:

Support growth in sectors such as renewable energy and aquaculture.

Invest in community infrastructure, ports, and coastal developments.

Engage stakeholders and tenants to maximise economic, environmental, and social benefits.
These priorities shape how CES manages leases, property assets, and development opportunities across Scotland.

Financial Performance (2024-25)
The year ended 31 March 2025 was one of strong financial performance for CES:

Net profit significantly exceeded targets and represented an increase on the prior year.

The total portfolio value rose to £767.1 million, a year-on-year increase of about 15 %.

The report emphasises active asset management across urban, rural, and marine portfolios, boosting financial sustainability and public returns.
Overall, these results reflect a diversified and resilient asset base capable of delivering income and growth for future years.

Economic Impact and Contributions
Research referenced in the report shows CES contributes broad economic value to Scotland's economy — including supporting jobs and generating gross value added (GVA). The activities tied to fishing rights, ports and harbours, and renewable energy (including seabed leases) form a key part of Scotland's blue economy and wider development goals.

Major Initiatives and Projects
The report highlights several strategic initiatives, such as:

Investment in offshore wind supply-chain infrastructure and coastal developments to support energy transition goals.

A major land acquisition at Nigg — enabling construction of a subsea cable factory, reflecting CES's role in supporting industrial infrastructure.

Diversification of the property portfolio, including commercial investments (e.g., industrial units and tenant-focused assets) to balance income streams and strengthen revenue predictability.

Governance and Risk Management
CES emphasises robust governance frameworks, internal control mechanisms, and risk management systems that ensure compliance, transparency, and accountability. The annual report includes details on governance structures, committees, and audit processes that oversee organisational performance.

Future Outlook and Challenges
Looking ahead, the report acknowledges uncertainties and risks — including market conditions, investment climates, and broader economic pressures. At the same time, CES expresses confidence in its corporate plan and strategic direction to continue delivering growth and public benefit.

The 2024-25 Annual Report shows that Crown Estate Scotland is:

Financially strong, with increased profits and robust asset valuation.

Strategically focused on sustainable economic development, especially in renewables and coastal industries.

Governed with accountability, aiming to balance revenue, investment, and social value.

Delivering economic impact for Scotland by supporting growth, jobs, and public spending via revenue returned to the Scottish Government.

Top Financial Highlights (2024-25)

Net Profit
• £130 million net profit for the year — that's about 15 % higher than in 2023-24.

Asset Portfolio Value
• The total value of the Crown Estate Scotland portfolio rose to £767.1 million, up around 15 % year-on-year, reflecting gains from property, marine, and rural investments.

Revenue Paid to the Scottish Government
• In 2024-25, £13.4 million was paid to the Scottish Government Consolidated Fund as part of the net revenue returned.
- Of this, £10.4 million related to net revenue from the prior year also paid over.

ScotWind & INTOG Funds
• £185.6 million in ScotWind monies and £17.3 million in INTOG net revenue profits were recorded as payable to the Scottish Government (held and invested instead of transferred on Scottish Ministers' advice).

Total Payables to Scottish Government
• At year-end, £202.9 million was included within the Statement of Financial Position as payables destined for the Scottish Government Consolidated Fund.

Context: What This Means Financially

Profit Growth:
The increase in net profit shows continued strong commercial performance, despite economic volatility, driven largely by diversifying revenue streams — including property rentals, rural estate operations, and seabed lease option fees.

Payments to Public Purse:
All revenue profit generated by Crown Estate Scotland is ultimately returned to the Scottish Government for public spending, supporting services and investment across Scotland.

Long-Term Renewable Revenue:
ScotWind and INTOG — major offshore wind leasing rounds — have generated substantial future revenue commitments. Although not all revenue was transferred in 2024-25, large balances are held to be paid in future years as projects mature.

Read the full report HERE
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