REAL estate business The Crown Estate, which owns CrownGate Shopping Centre in Worcester, has announced another record income return of £304.1m to the Treasury for the public finances, up 6.7 per cent on 2015.

Overall performance was significantly ahead of the market, with a total return of 17.2 per cent against an IPD universe benchmark of 11.3 per cent and a bespoke benchmark of 13.1 per cent.

Crowngate is Worcester's largest shopping centre with 59 retail units and three anchor stores, including House of Fraser, New Look and Primark, providing 300,000 sq ft of retail accommodation. Over the past 12 months The Crown Estate has continued to invest in the centre by securing new occupiers, Phase Eight and GBK, and is working on a number of new initiatives for 2016/2017. The scheme won a Purple Apple marketing award in May this year.

Hannah Milne, director of The Crown Estate’s retail portfolio, said: “Our focus this year has continued to be on creating great places for our retailers and customers to shop and enjoy in dominant locations, such as CrownGate, and help deliver another record return for the nation’s finances.”