More than £800m worth of properties owned by the Crown Estate are sitting empty, according to a new investigation.
The findings by business newspaper City AM, show the developer’s portfolio includes 312 vacant properties, some of which are commercial space, in the Greater London area.
The total value of the empty properties is estimated to be around £835m, based on average prices per square foot.
The Crown Estate, which owns London’s Regent Street as well as a stake in Savile Row, said the buildings are not vacant in the traditional sense.
A spokesperson told City AM: “The majority of properties in questions are vacant or have already been demolished as part of our £1.5bn central London redevelopment programme creating world class office and retail space.”