This comes up a bit when I meet people. A brief summary:
The Duchy of Lancaster = rental profit to King Charles
The Duchy Of Cornwall = rental profit to Prince William
The Crown Estate = rental profit to the Treasury for the King
Network Rail = not for profit to Department for Transport
The Arch Company = profit to TELEREAL TRILLIUM LIMITED and Blackstone JV
Transport for London = not for profit to the Mayor of London
Places for London = rental profit to Transport for London and capital retained
Duchy of Lancaster = Lancashire foreshore, Savoy Estate (not the Savoy Hotel), rural estates predominantly in Crewe, Staffordshire, Yorkshire and Lancashire
Duchy of Cornwall = mainly land in Cornwall and the Oval in London
The Crown Estate = Regent Street, seabed, foreshore (not Lancashire) and the rest
Network Rail = mainline stations and the shops, tracks and operational infrastructure
The Arch Co. = the commercial properties in arches Network Rail used to own but has now long-leased
Transport for London = operational property, tube tracks, tube stations, DLR, the Red Route and infrastructure
Places for London = the commercial property assets of Transport for London such as Baker Street Station, Buck Street Market and Whitechapel High Street.
All separate legal entities. Luckily I started my career in Deloitte Corporate Finance. What do they all have in common?
Long-term value creation which is exactly what Places for London was set up to deliver for Londoners.
Chairman BexleyCo Homes
1moExcellent appointment.