London Branch AGM followed by a presentation on The Crown Estate

8 June 2006

Those who attended the June meeting of the CLA London Branch, hosted by the Crown Estate at their offices in New Burlington Place, enjoyed a fascinating talk on the challenges and opportunities in managing the very diverse Crown Estate property portfolio. The talk was given by Director of the Rural Estate, Christopher Bourchier and Director of Investment & Asset Management, Giles Clarke.

Undergoing a £500m redevelopment programme, Regent Street was a case in point with an unbroken retail frontage of over 2km and 1.5 million square feet of offices. Regent Street includes no less that 77 listed buildings and is entirely contained within a conservation area. It was the world's first purpose built shopping street.

Mr Clarke outlined the innovative way in which the Crown has developed one of the blocks, overcoming problems such as the proximity of three underground rail lines. He explained the need to find new ways to ensure that the public continued to visit all 2km of the street when blocks are boarded up whilst under development. The Formula One racing car event was one such project designed to keep the name of Regent Street in the media and therefore attract the public.

Mr Bourchier gave examples of rural diversification projects that the Crown Estate had been able to support including Styles Farmhouse Ice Cream which is the world's largest producer of sheep's milk ice cream. Established in 1988 by David and Sue Barker it is now one of the top ten employers in West Somerset with 65 workers in the peak season.

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