Prince William Plans Bold Royal Property Sell-Off Worth Over $600 Million
Prince William reportedly wants the Duchy of Cornwall to focus less on land ownership and more on social impact.
Prince William has decided to take a bold step and sell a major chunk of the royal property portfolio. The future monarch is planning to sell off around 20% of the Duchy of Cornwall over the next ten years. As part of the plan, he will put over $668 million toward housing projects and environmental work.
The Times has reported that William wants to focus the Duchy’s efforts on a few key areas where he believes it can make the biggest difference socially and environmentally. Those areas include Cornwall, the Isles of Scilly, Dartmoor, the Bath area, and Kennington in south London. He earns most of his private income from the huge estate spread across 21 counties that has belonged to the heir to the throne since the 14th century. The landholding is worth about $1.46 billion (£1.1 billion) and brings in more than $26 million (£20 million) a year in profits.
The Duchy’s chief executive, Will Bax, said the next ten years will bring big changes after William made it clear he wants the estate to stand for more than just land ownership. According to Bax, the royal said, “It should first and foremost exist to have a positive impact on the world.” He pushed back against criticism that the Duchy had acted too commercially in the way it dealt with tenants over the years. “I don’t think that was true,” Bax said. The estate had faced backlash over claims that it charged charities, community groups, and even government departments to use its land.
Since taking over the role in 2024, Bax said he was given a clear mission by the Prince of Wales, and it is to focus on issues like climate change, housing problems, protecting nature, helping struggling communities, and growing renewable energy projects across the estate. He explained, “If we don’t see an opportunity for positive impact, then perhaps we don’t need to be a part of that place.” He continued, “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."
The Times reported earlier this year that the Duchy was planning to sell ten tenant farms on its Bradninch estate in Devon. The decision reportedly caused a lot of worry among some farmers and villagers. But Bax said the Duchy is offering the tenants a chance to buy the farms themselves on much better terms than they would normally get on the market.
