In September last year, King Charles III ascended to the throne following the death of his mother, Queen Elizabeth II. As he took on his new role as Britain's reigning monarch, his eldest son Prince William gained new titles (including the Prince of Wales and the Duke of Cornwall and Cambridge) and inherited the Duchy of Cornwall. This estate spans more than 20 counties across England and Wales – the majority of which is not actually in Cornwall – but the portfolio is vast, including housing developments, holiday cottages, farms, woodland, and even coastlines.
'As my heir, William now assumes the Scottish titles which have meant so much to me. He succeeds me as Duke of Cornwall and takes on the responsibilities for the Duchy of Cornwall which I have undertaken for more than five decades,' King Charles said in his first televised address to the nation from London's Buckingham Palace on 9th September 2022.
What is the Duchy of Cornwall?
The Duchy of Cornwall is a private estate, established in 1337 by Edward III to provide independence to his son and heir, Prince Edward.
In 1969, Charles was 21 when he became entitled to the full income of the Duchy and took over its management. Now, William has taken over the estate from his father. A charter, that is still observed today, rules that each future Duke of Cornwall is the eldest surviving son of the monarch and heir to the throne.
The Duchy of Cornwall is worth more than £1 billion, and William, who is now one of the largest landowners in England, can expect an annual payment of at least £20 million, The Guardian reports. The revenue from the estate is used to fund the public, private and charitable activities of the Duke and his immediate family.
What's included in the Duchy of Cornwall estate?
The Duchy of Cornwall consists of almost 53,000 hectares of land in 23 counties, mostly in the South West of England. It comprises residential and commercial properties, arable and livestock farms, as well as forests, rivers, quarries, and coastline. There's also the Duchy's own businesses – the Duchy Holiday Cottages and Duchy Nursery (garden centre). Under the guidance of Prince Charles (as he was then known), it is the Duchy's responsibility to manage this estate in a way that is sustainable, financially viable and of meaningful value to the local community.
Does the Duchy include all of Cornwall?
The Duchy estate does not include the entire county of Cornwall, but the Duchy has a special relationship with Cornwall, as well as certain rights and responsibilities which relate to the county as a whole. The Duchy also owns the coastline and riverbed around Cornwall and part of south Devon.
What properties and buildings are owned by the Duchy of Cornwall?
For example, in London the Duchy owns 16 flats and 23 houses in Kennington, as well as The Oval, the international cricket ground, of which Surrey County Cricket Club is the sole leaseholder.
In 1994, Charles created Poundbury, an urban extension to the Dorset county town of Dorchester, with 250 acres of mixed-use buildings (including affordable housing for rental or shared ownership by local people) and 150 acres of landscaping for recreation, ecology and farmland.
The Duchy’s land on Dartmoor is the largest landholding in its portfolio and comprises approximately one third of the Dartmoor National Park. There are farms and common land, which is used by local farmers to graze cattle, sheep and ponies. All of the Duchy's 21 farms are let to tenants who use the land for this very purpose. And, although predominantly a rural estate, there are also 50 houses, five pubs, four hotels and a wide variety of small rural workshops.
Highgrove House near Tetbury in Gloucestershire has been the family home of the King Charles and Camilla, Queen Consort when they were known as the Prince of Wales and the Duchess of Cornwall. The Duchy of Cornwall owns Highgrove – the house, garden and Duchy Home Farm.
Nansledan, a new town in Newquay, Cornwall is an urban extension on 540 acres of mainly Duchy-owned land. It will create future business, housing, educational and health needs in a sustainable way, and will eventually comprise 4,000 homes, of which 30 per cent will be available as affordable homes. Work started in 2014 and it will take around 30 years to complete.
The Isles of Scilly is home to a group of over 200 islands and rocks located 28 miles from Cornwall, and the Duchy owns most of the land and nearly a third of the residential buildings on the islands there.
Elsewhere, ancient monuments in the portfolio include Cromwell's Castle in Tresco, Restormel Castle in Cornwall, Lydford Castle and Saxon Town in Devon, Maiden Castle in Dorset and Berkhamsted Castle in Hertfordshire, to name a few.
• For the full portfolio of the Duchy of Cornwall estate (including property, woodland, rivers, estuaries and coastline) visit duchyofcornwall.org/places.
Is the Duchy of Cornwall linked to the Duchy of Lancaster?
There are two royal duchies in England – the Duchy of Cornwall and the Duchy of Lancaster – but the management and control is entirely separate. The Duchy of Lancaster belongs to the reigning Sovereign as Duke of Lancaster, which now falls to King Charles. Revenue from the Duchy of Lancaster now forms a component of King Charles' income.
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