Prince William is preparing for a significant overhaul of the Duchy of Cornwall, planning to sell off approximately one-fifth of the vast royal estate as part of an ambitious £500 million initiative to tackle Britain's housing and environmental challenges. The Prince of Wales, who inherited control of the duchy following his father's accession to the throne, is expected to divest portions of the billion-pound estate over the next decade while concentrating investment in key areas.
Income and Modernisation Drive
William, the 25th Duke of Cornwall, receives a private income of nearly £23 million annually from the sprawling estate, which spans 21 counties and includes land, farms, housing, and commercial properties valued at over £1 billion. This income supports the official, charitable, and private lives of Prince William, Catherine, Princess of Wales, and their children, Prince George, Princess Charlotte, and Prince Louis. In what insiders describe as a major modernisation effort, the future king intends to streamline the estate and focus on five 'heartlands' where advisors believe the duchy can achieve the greatest social and environmental impact. These areas reportedly include Cornwall, the Isles of Scilly, Dartmoor, the Bath region, and Kennington in south London.
Positive Impact Strategy
Will Bax, chief executive of the Duchy of Cornwall, told The Times that the prince believes the estate 'shouldn't just exist to own land. It should first and foremost exist to have a positive impact on the world.' Bax stated that the duchy's future will centre on addressing climate change, boosting affordable housing, investing in renewable energy, and supporting struggling rural communities. Regarding the proposed sale of around 20 per cent of the estate, he remarked: '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.'
Investment Allocation
William plans to channel £500 million into the project through a combination of land sales, development income, partnerships, and borrowing. Approximately £160 million is expected to be directed towards housing projects, including affordable homes in Cornwall, the Isles of Scilly, and south London. The duchy also aims to unlock between 10,000 and 12,000 new homes by 2040 through development on land near urban areas. Other projects under consideration include expanding industrial facilities on St Mary's in the Isles of Scilly and encouraging new business ventures on Dartmoor to help younger residents remain in the area. Environmental schemes are expected to form a major part of the prince's agenda, with plans for 100MW of renewable energy generation over the next decade—enough to power up to 100,000 homes. An additional £20 million is expected to be invested in nature recovery programmes alongside wildlife organisations and government partners. Bax explained: 'The duke talks about the seesaw of ensuring that we create optionality, by being commercial where it's easier to be in order to really double down on need, where we know that we can be game changing in how we invest.'
Controversies and Criticism
The proposed changes follow controversy earlier this year regarding the duchy's decision to sell ten tenant farms on the historic Bradninch estate in Devon. The estate, near Cullompton, has belonged to the Duchy of Cornwall since the 14th century, and tenants previously claimed the uncertainty left them 'enormously stressed'. Bax insisted the duchy was attempting to help farmers buy their properties rather than forcing them out. He told The Times all ten tenants were 'engaged in a conversation around buying their farm' and believed most would ultimately purchase them. The duchy has also faced criticism over allegations of behaving in an 'overly commercial' manner in some dealings with charities, community groups, and public bodies. Additionally, the duchy continues to receive £1.5 million annually from a government lease linked to HMP Dartmoor, despite the prison being largely unusable due to dangerous radon gas levels in the ageing Victorian building.
