The Crown Estate has scrapped plans to separate its £1.3bn portfolio of shops and offices around Regent Street in London into a standalone vehicle open to outside investment.

The company, which owns the sovereign’s land and property in the UK, has been working for more than a year on plans to sell stakes in its estate as part of a new venture, which could have been listed to create one of the country’s largest property companies.

The Crown Estate is expected to explore other ideas for raising capital from its large central London portfolio in future, however, including bringing in large external investors, although the Financial Times says existing plans have been rejected by its board.

Financial Times