Prince of Wales Plans to Sell 20 Percent of Duchy of Cornwall

The Prince of Wales plans to sell approximately 20 percent of the Duchy of Cornwall over the next ten years, according to a report by The Times. The sales are projected to raise about £500 million. The funds will be directed toward housing and nature initiatives.

The Duchy of Cornwall is a portfolio of land, property, and investments valued at more than £1 billion that provides the Duke of Cornwall with an annual private income of nearly £23 million.

The prince will focus holdings around five geographic areas: 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 the estate should prioritize positive impact over simple land ownership.

Bax said the duchy would sell properties where it sees no opportunity for positive impact. He added that the organization would remain a partner in areas with social need or environmental challenges.

The £500 million investment will come from land sales, development income, partnerships, and borrowing. In March, tenants on the Bradninch estate in Devon reported stress after learning of plans to sell land that had been part of the duchy for centuries. Bax stated that all ten tenants are in discussions about purchasing their farms and that most are expected to do so.