The portfolio of assets belonging to the monarchy through The Crown Estate – which includes many residential rental properties – has announced a record income return.

Crown Estate Commissioners released figures showing a £304.1m return to hand over to the Treasury.

The figures were up 6.7% from last year and included a boost from £633.2m sales of assets into a “strong market”, which included non-core residential assets in central London as well as two retail parks and rural and strategic land.

Announcing the figures, the commissioners stated: “With rural land values plateauing in some parts of the country, the business has continued to focus on the sale of non-core assets, and the progression of strategic land sites through the planning system to secure consent for new homes.

“During the year, consent was received for 7,000 homes across the portfolio and Local Plan progress was made for sites with a potential to deliver a further 4,000.”