[1] Crown Estate Scotland's main income source is from leases on the property, which is mostly in sectors such as offshore renewables, farming, tourism and aquaculture.

[2] These include over 35,565 hectares (87,880 acres) of land in rural Scotland, the majority of which is let for farming, residential, commercial, sporting and mineral operations.

The estate also has significant holdings in the coastal and marine environment, including virtually all of the seabed out to 12 nautical miles (22 kilometres), rights to lease seabed for renewable energy generation and gas and carbon dioxide storage out to 200 nautical miles (370 kilometres) and just under half of Scotland's foreshore.

[3] In 1790 King George III revoked his claim to the income from the crown estates in England, receiving in return an annual payment known as the civil list from the Treasury.

[4] These holdings mainly comprised former ecclesiastical land (following the abolition of the episcopacy in 1689) in Caithness and Orkney, and ancient royal possession in Stirling and Edinburgh, and feudal dues.

The Smith Commission was announced by Prime Minister David Cameron, with Lord Smith of Kelvin asked to "convene cross-party talks and facilitate an inclusive engagement process across Scotland to produce, by 30 November 2014, Heads of Agreement with recommendations for further devolution of powers to the Scottish Parliament".

Two years later, the Crown Estate sold its stake and used the funds to assume full ownership of the Gallagher Retail Park in Cheltenham.

The auction raised almost £700m for the Scottish Government, and covers sites estimated to be capable of generating over 24 GW of electricity in total.