Prince William to Sell Duchy of Cornwall Assets to Fund Housing and Green Projects

The Prince of Wales is planning to sell approximately one-fifth of the Duchy of Cornwall’s property holdings over the next decade, reinvesting an estimated £500 million into affordable housing and environmental projects. The strategy, detailed by the Duchy’s chief executive, represents a significant shift in the management of the private estate that provides the heir to the throne with an annual income.

Will Bax, chief executive of the Duchy, stated that Prince William decided the estate should not merely exist to own land but to have a positive impact. The plan involves consolidating holdings around five key areas: the Isles of Scilly, Cornwall, Dartmoor, the Bath area, and Kennington in south London. Bax explained that where the Duchy does not see an opportunity for positive impact, it may divest, but it aims to be a partner in addressing social needs and environmental challenges.

The investment, funded by land sales, development income, partnerships, and borrowing, will target several priorities. Approximately £160 million is earmarked for housing solutions, including building affordable homes. The Duchy also hopes to facilitate the construction of 10,000 to 12,000 new homes...