CROWN ESTATE’S COASTAL INTERESTS IN WALES

Land Agency appointed to manage The Crown Estate's coastal portfolio in Wales for further five years

9 July 2015

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One of the UK’s biggest rural and coastal landowners, the Crown Estate has reappointed Cooke & Arkwright as Managing Agents of its £19.3 million coastal portfolio in Wales for a further five years. The firm has acted as The Crown Estate’s local representative for 23 years to date, providing specialist expertise and developing relationships with tenants and other parties with coastal interests in Wales, including environmental groups and regulatory bodies. The Crown Estate owns almost half the UK’s foreshore and the seabed, and its Welsh portfolio covers around 70% of the Welsh coastline including ports, harbours, marinas, leisure boating and also cables and pipelines – with a total capital value of £19.3m.

Cooke & Arkwright is currently involved on behalf of the Crown Estate in the negotiation of the regulating lease at Saundersfoot Harbour, where a £4m redevelopment is under way. The scheme will see the historic harbour transformed into an international marine tourism destination and includes a new commercial slipway, an inner harbour landing pontoon and access bridge, as well as the installation of decking over the existing sluice to enable open-air events to be held.

The Crown Estate is an independent commercial business, established by Act of Parliament to commercially manage a diverse £11.5bn portfolio of assets and actively supports important industries such as marine aggregates, cables and pipelines, and offshore renewable energy.  100 per cent of the profits generated are returned to the Treasury for the benefit of the nation’s finances which, over the last ten years, has equated to over £2bn.

The Crown Estate’s commitment to environmental sustainability includes stewardship, with its Crown Estate Stewardship Fund supporting a number of projects around the Welsh coastline. The most recent example is the newly opened £100,000 landing stage at Parrog, Newport in west Wales, which it part funded. Funds were also provided for an observation hide at Conwy Nature Reserve, the funding of a portable slipway at Pwllheli and a landing stage and improved access at Skokholm Island.

Ryan Pratt, Senior Surveyor with Cooke & Arkwright’s Land Agency said, “Working with The Crown Estate for so many years, the firm has built up specialist expertise in this particular area, which can be quite complex, ranging from mixed use development schemes to major infrastructure projects or offshore renewable energy projects.

“Most importantly, our team has been able to develop a solid working relationship with the Crown Estate team and we are looking forward to helping deliver its long-term commercial objectives.”

Gary Thompson, Asset Manager at The Crown Estate, said: “Cooke & Arkwright, assisted by Jones Peckover are both well established and respected within their respective markets and we are confident that both businesses will continue to positively contribute to the overall management of the coastal estate in Wales.”

If you are proposing a development or use of the foreshore or seabed, please do not hesitate to contact either me or Ryan Pratt - email ryan.pratt@coark.com.