Prince William Says Duchy of Cornwall Is Evolving and Open to Change

Prince William said the Duchy of Cornwall is evolving and must remain open to change where needed. He controls the 128,000-acre estate, which generates more than £20 million in annual profit. The prince acknowledged the duchy had not always acted correctly under his stewardship. He said he is learning as operations proceed.

Last week William visited a £3 million social housing development at Nansledan near Newquay. The project will provide 24 homes for people at risk of homelessness in partnership with the charity St Petrocs. The first residents are scheduled to move in this summer. The duchy plans additional social housing at other sites.

An earlier investigation found the duchy and the Duchy of Lancaster charged charities, the armed forces, the NHS, schools and the prison service millions of pounds in rent. Last year the duchy stopped charging rents on lifeboat stations, fire service properties, village halls and school playing fields.

William told The Sunday Times the duchy has a responsibility to support communities and strengthen them for future generations. He said the estate is testing new ways of working with partners and people who have lived experience of the issues. Last week The Times reported William intends to sell a fifth of the duchy over the next ten years and invest £500 million in housing and nature projects.

He plans to consolidate holdings around five geographic areas.