Oxfordshire shopping centres that King Charles III 'owns'

Ahead of King Charles III's coronation, which will take place on Saturday 6 May 2023 at Westminster Abbey in London, we have looked at what landed is owned by the Crown Estate.

The Crown Estate own two Oxfordshire shopping centres, one in Banbury and one in Oxford city centre.

READ MORE: Homeowners fear for garden following updated plans for 555 new homes

The Banbury Gateway Shopping Park and the Westgate Oxford shopping centre are two of 17  retail and leisure destinations in city centres and out-of-town locations owned by the Crown Estate.

The Westgate shopping centre underwent a massive £500million redevelopment five years ago by the Westgate Oxford Alliance, in a joint venture between the Crown Estate and Land Securities Group Plc.

Inside Westgate Oxford shopping centre (Image: Newsquest)

The centre was closed in February 2016 and reopened in October 2017.

The original Westgate shopping centre was built between 1970 and 1972 and was originally owned by Oxford City Council.

The central library was also moved to the centre from the Town Hall, being opened by Queen Elizabeth, the Queen Mother in 1973. 

Queen Elizabeth II and the Duke of Edinburgh also visited the centre in 1976.

ALSO READ: 'Some delays' on Oxford bus services should be expected, company warns

The Westgate is currently home to a range of well-established stores and restaurants such as Ann Summers, Costa Coffee, John Lewis, Krispy Kreme, and Nando's among many more.

The £80million Banbury Gateway development, started in 2014, was bought and funded by the agency which controls property officially owned by the monarch.

The retail park, near junction 11 of the M40, plays host to fashion brands such as Primark and River Island, an M&S, and food retailers including McDonald's.

Banbury Gateway Shopping Park (Image: Newsquest)

The Crown Estate’s £15bn in assets and land are not the private property of the monarch, meaning they cannot be sold by King Charles and he does not receive revenue from them.

The sovereign is not involved with the management or administration of the estate and exercises only very limited control of its affairs.

Under the Crown Estate Act of 1961, the estates are managed by a board who have a duty to maintain and enhance their value. 

Private landlords pass on their profits to the Treasury each year.

A portion of this is allocated to the Royal Family through the Sovereign Grant.

In 1760 George III made an agreement with the Government at the time that the Crown Lands would be managed on behalf of the government and the money would go to the Treasury.

In return, the King would get a fixed annual payment - later known as the Civil List.