It is hard to know what to make of Capital Shopping Centres’ proposal to sell the Westgate Shopping Centre to Crown Estates. At the very least, it signifies that the stalemate over the redevelopment of the site would continue if CSC were to retain ownership.

Looking on the bright side, a change of ownership could give new impetus to the plans for a John Lewis store and associated new shopping centre.

If the Crown Estate does eventually acquire the centre, then we could be looking at an owner with a completely different outlook on life. As a commercial arm of Government, and at one time the monarch, it has been doing business for 400 years and, no doubt, will expect to be doing business for at least another 400 years.

Its vision, you can be sure, will not be a short-term one.

Is that good or bad for the Westgate? On the one hand it may be in no rush to progress the redevelopment, on the other, its decision on a start date may be unaffacted by concerns about returns in the short term.

Ultimately, however, the Crown Estate is owned by all of us as taxpayers and must be susceptible to public pressure. The sooner it can get things moving at the Westgate, the better.