Duchy of Cornwall to Sell 20 Percent of Property Over 10 Years

The Duchy of Cornwall announced plans to sell 20 percent of its property holdings over the next 10 years. The sale is expected to raise about £500 million, which will be reinvested in local communities. The estate covers 128,000 acres across 19 counties and generates more than £20 million annually for the Prince of Wales.

Proceeds will support affordable housing, renewable energy, and environmental restoration projects.

The duchy will direct £161 million toward housing, aiming to build 12,000 homes by 2040. About one-third of these homes are intended to be affordable. An additional £123 million will fund workplaces and rural job creation. The duchy also plans to expand solar panels on rooftops in southwest England to generate power for 40,000 homes.

Environmental spending includes £20 million for peatland restoration, biodiversity projects, and emissions reduction.

Cornwall has its origins in medieval land ownership. It has recently increased emphasis on social value and community impact. Chief executive Will Bax said the duchy should exist to make a positive impact, particularly in communities where it can make the biggest difference.

Prince William stated that the organization is moving beyond traditional landownership to prioritize improvements for people living on its estates. The announcement comes as the Sovereign Grant faces a likely reduction next year, with the Treasury indicating the funding mechanism will remain in place for future years.