The Prince of Wales is reportedly planning to sell 20 per cent of the Duchy of Cornwall over the next decade, aiming to raise £500 million to address housing and nature crises, according to The Times. The estate, valued at more than £1 billion, provides William with an annual private income of nearly £23 million, which funds the charitable and official activities of his family.
As Duke of Cornwall, William inherited the portfolio of land, property and investments when his father became King. The prince intends to consolidate holdings around five geographic “heartlands”: the Isles of Scilly, Cornwall, Dartmoor, the Bath area, and Kennington in south London.
Will Bax, chief executive of the Duchy of Cornwall, told The Times that William decided the Duchy “shouldn’t just exist to own land. It should first and foremost exist to have a positive impact on the world”. Bax said the £500 million will come from land sales, development income, partnerships and borrowing.
In March, tenants of the Duchy’s Bradninch estate in Devon expressed “enormous stress” following plans to sell land that has been part of the Duchy for centuries. Bax said all ten tenants are “engaged in a conversation around buying their farm”, with the majority expected to do so.
