The Prince of Wales is set to sell approximately 20% of the Duchy of Cornwall within the next ten years, according to reports. The move is part of a broader strategy to invest £500 million into addressing pressing housing and environmental challenges.
William, who inherited the estate—a portfolio valued at over £1 billion comprising land, property, and investments—upon his father's accession to the throne, serves as the 25th Duke of Cornwall. The duchy provides him with a private income of nearly £23 million annually, which funds the charitable, private, and official activities of the Prince and Princess of Wales and their children, Prince George, Princess Charlotte, and Prince Louis.
Under the plan, the prince will 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, explained that the prince decided the duchy "shouldn't just exist to own land. It should first and foremost exist to have a positive impact on the world."
Regarding the sale of about a fifth of the estate, Bax stated: "If we don't see an opportunity for positive impact, then perhaps we don't need to be a part of that place. But where there is social need and where there is environmental challenge and where there is an opportunity to enable change, then we'll be a great partner in working with people to achieve that."
The £500 million investment will be sourced from land sales, development income, partnerships, and borrowing, with a focus on the prince's priorities. However, the plan has caused concern among tenants. In March, tenants of the Bradninch estate in Devon—which has been part of the duchy for centuries—expressed being "enormously stressed" following proposals to sell land. Bax confirmed that all ten tenants are engaged in discussions about buying their farms, and he believes the majority will proceed.
