| Howard de Walden Estates and Welbeck Land made a combined profit in 2002-03 of £34.4m on £56.2m sales. It is good news for the Howard de Walden family, represented here by Czernin, 68, the eldest of four daughters of the late Lord Howard de Walden, who died in 1999. The family has allowed managers to get on with the regeneration of the huge swathes of central London it owns. Marylebone High Street has been given a revamp that is regarded as a model for high streets throughout Britain. The estate is a generous arts patron and helps to fund Sir John Soane's Museum in London. Much of the wealth is held in family trusts, and increased property values and sparkling returns lead us to increase our valuation to £1,200m. We add £100m for other assets, including dividends of more than £58m since 1993.
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2003: £1,150m
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