After becoming the new Prince of Wales – Prince William inherited the Duchy of Cornwall and its £345million property portfolio. This also includes King Charles III’s beloved 18th-century Gloucestershire estate. Princess Diana treated Highgrove as their weekend home during the early years of her marriage.
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Father’s landlord
The Gloucestershire estate includes the King’s favourite Highgrove home. The Duchy bought Highgrove in 1980 and since then, it has been established as a family home by King Charles III. Highgrove home – which is allegedly close to the King’s heart – is just a short drive away from Queen Consort Camilla’s private home in Wiltshire.
King Charles has a long lease on Highgrove House and he must now pay up to £700,000 a year to honour that lease for his beloved home. He also retreated to Highgrove for a day last month after Queen Elizabeth II’s death. A source told The Sun:
The King has a long lease and pays rent on Highgrove House and surrounding land.
Since the Duchy now belongs to Prince William, he has apparently become the landlord to his father – the King of England. The Duchy owns 128,000 acres of property and reportedly earned £21 million last year. Charles discovered his passion for gardening there, and the neglected grounds underwent an amazing turnaround.
Duchy of Cornwall
MailOnline confirms that Prince William has become the biggest private landowner in Britain after inheriting the Duchy. It has £1.2 billion worth of land spread across 23 counties, including farms, housing projects, seven castles, woods, beaches, and commercial property.
Nearly a third of the residences on the five inhabited Isles of St. Mary's, Tresco, Martin's, Agnes, and Bryher – which number more than 200 – are owned by the Duchy. More than 85% of the local economy is derived from tourism, with tourists drawn by the area's seals, dolphins, puffins, and unusual flora. The Duchy receives a yearly rent payment of a daffodil from the Isles of Scilly Wildlife Trust and also has the Oval cricket ground in south London.
Sources Used
The Sun: Prince William becomes his dad’s own landlord and will get £700K a year from The King’s beloved Highgrove home
DailyMail: Prince William will receive £700,000 a year in RENT from King Charles' Highgrove estate after taking over the Duchy of Cornwall and becoming his landlord, source says
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