Rents from the Crown Estate earned the Treasury£170.8 million in the year to March 31, 2003, but the landlord committed more than twice that amount to major redevelopment schemes in Regent Street.
The sum paid to the Government is up 4.6 per cent on the previous year.
The capital value of the Crown Estate is now valued at more than£4 billion.
The Regent Street redevelopment included a£55 million remodelling scheme for 185-191 Regent Street and 13-17 New Burlington Place, which will provide 17,500 sq ft (1,625 sq m) of retail space on three floors on Regent Street.
In addition, 229-247 Regent Street and 132-154 Regent Street received investment. The Crown Estate scheme will be using CB Hillier Parker as a letting agent.
Cushman & Wakefield Healey & Baker were recently appointed by the Crown Estate as managing agent until 2008 for its£800 million Regent Street Estate.
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