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Crown denies property sell-off

Crown denies property sell-off

The Crown Estate has poured cold water on suggestions that it is about to off-load its £120m logistics property portfolio.

Speculation has been mounting that the Crown Estate, which manages land and assets assigned to the monarchy, is preparing to off-load a series of assets including the 650,000 sq ft John Lewis unit at Magna Park, Milton Keynes.

A spokesman said: “Active asset management is an integral part of our long-term strategy, and so we frequently review our holdings.  However, we have no current plans to sell our industrial premises at Milton Keynes, nor the wider industrial premises on our portfolio.”

The Estate bought the John Lewis unit in 2007 in a deal with Gazeley, paying around £70m. It also owns warehouses in Oxfordshire and Norfolk.

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