• Tue. May 21st, 2024

King Charles III owns the Westgate Centre – and a McDonald’s

Byoxfordnewspaper

Sep 29, 2022

Along with duchies and palaces, King Charles III now 'owns' a McDonald's and an Ann Summers in Oxfordshire.

The Westgate Shopping Centre and the Banbury Gateway Shopping Park are two of a number of properties and areas of land owned by the Crown Estate.

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.

Strangely enough, reviewers online have praised a "courteous" member of staff at the branch named Lizzie.

The other site managed by the Crown Estate in Oxfordshire is the Westgate Shopping Centre, which means King Charles also 'owns' an Ann Summers.

READ ALSO: Woman, 40s, charged with stealing £350 of goods

The £500million redevelopment of the centre, which opened in 2017, was carried out by the Westgate Oxford Alliance, a joint venture between the Crown Estate and Land Securities Group Plc.

On its website, the sex toy and lingerie store states: "Our journey has been paved by the Golds and we've got one hell of a heritage to be proud of."

The Crown Estate’s £13bn in assets are not King Charles' personal property and cannot be sold by him.

They are looked after by the monarchy “in right of the crown” and all of its profits are paid to the Treasury.

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.

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