Crown Estate May Sell Land to Fund Projects, Telegraph Reports

The Crown Estate, which operates property on behalf of the U.K. government and the British monarchy, may sell suburban land to raise funds for developments in central London and offshore energy projects, the Sunday Telegraph said.

Towns such as Luton, Hemel Hempstead and Taunton could be rapidly developed by 2020, the newspaper said, citing Paul Clark, investment director for Crown Estate. The body would secure planning consent before selling its properties and has not set a target for how much it wants to raise, according to the Telegraph.

To contact the reporter on this story: Kari Lundgren in London at klundgren2@bloomberg.net

To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net