The Queen's commercial property assets rise in value

The Queen's private estate rose in value by £25 million during the 2009-10 financial year, with newly released Duchy of Lancaster accounts showing a boost from commercial property assets.

According to the figures, the Duchy of Lancaster's portfolio of land, property and assets held in trust for the sovereign rose in value by eight per cent to £348 million in the last financial year.

It was also revealed that the value of agricultural, residential and commercial property increased by £44 million to £324 million while the worth of financial investments was up by just over £10 million to £53 million.

Costs and other liabilities meant the overall figure fell to £348 million.

The increase is a marked improvement on the 2008-09 financial year when the portfolio's value fell by £75 million.

Duchy chief executive Paul Clarke said: "With a prudent approach to investment, it is my strong belief that we can weather the current economic uncertainties and prepare for better times ahead.

"We have experienced a rebound in capital values over the last year but the challenge is to maintain the current income levels. Inactivity is not an option."

The duchy encompasses 18,700 hectares across England and Wales and includes urban developments, historic buildings, farmland and areas of great natural beauty.