telegraph.co.uk17 July 2012
Queen's private Duchy of Lancaster estate rises in value above £400m for first time, accounts show
The refurbishment of Wellington House, an office block on the Strand in London, as well as the purchase of a new agricultural estate in Lincolnshire have led to a 5.8 per cent increase in the value of the Duchy’s property portfolio, from £383m in 2011 to £405m now.
The Duchy not only provides the Queen with her private income but also funds the official duties of the Duke of York, the Earl of Wessex, the Princess Royal and several other members of the Royal family.
The annual accounts show that the Privy Purse’s income from the Duchy fell from £13.3m last year to £12.9m for the year ending March 31, 2012, largely because of lost rental income while Wellington House was being refurbished. The Queen voluntarily pays income tax on revenue she received from the Duchy, which is exempt from corporation tax.
Established by Henry IV in 1399, the Duchy’s assets include substantial land holdings in London, industrial estates, farmland, holiday homes, Harrogate Ladies College and Lancaster Castle.
Duchy of Lancaster, year ending 31 March 2012
The asset value of the Duchy's property portfolio: £405m (US$628m, €518m, AUS$612m).
The Queen's income from the Duchy: £12.9m (US$20m, €16.5m, AUS$19.5m)
telegraph.co.uk
22 July 2012
Catherine's wedding dress generates box office for the Royal Collection
The Duchess of Cambridge allowed her wedding dress to be the centrepiece of Buckingham Palace’s summer opening to the public last year. The bridal gown, designed by Sarah Burton, proved a huge attraction, boosting the number of visitors to the Queen’s London residence by 191,000. More than £10 million was spent on admission tickets, an increase of almost £3.5 million on the previous year.
Sales at the palace’s shops were £3.87 million, an increase of almost £1.7million. “Unprecedented numbers came to see the Duchess’s wedding dress,” said Jonathan Marsden, the director of the Royal Collection. Royal wedding and Diamond Jubilee merchandise accounted for around 75 per cent of online sales by the palace’s shops.
The Royal Collection - visitor and sales revenue
Buckingham Palace visitor numbers: increased by 119,000
Buckingham Palace admission tickets: £10m+ (US$15.5m, €12.8m, AUS$15.1), increase of £3.5m.
Sales income from Palace Shops: £3.87m (US$6m, €12.8m, AUS$15.1), almost double that of last year.
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