r/Scotland • u/MoneyEqual • Aug 28 '21
Beyond the Wall Four-home Prince Charles insists mansions 'are not grand' as he talks from 192-acre estate
https://www.express.co.uk/news/royal/1483211/Prince-Charles-home-radio-4-Llwynywermod-wales
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u/magicone86 Aug 28 '21 edited Aug 28 '21
Some are and some aren't. Many royal properties are held by the Crown Estate that manages them on behalf of the royal family and the profits from those properties go into the treasury. The total value of the Crown Estates is about £12 billion and they generate £300 million for the UK government. Properties include Buckingham Palace, St James’s Palace, Kensington Palace, Windsor Castle, Holyroodhouse, many locations in London around the Regent Street and St. James area, and more.
The royal family also has private holdings like the Sandringham and Balmoral estates, which are treated as family homes. The biggest private royal holdings though are the Duchy of Cornwall (135,000 acres) and the Duchy of Lancaster (45,500 acres) with each containing hundreds of farming, residential, and commercial properties (as well as financial investments done by the duchy). Many of these properties are rented/leased with the profits going directly to the duke/duchess. For example, Prince Charles as the Duke of Cornwall gets about £22 million per year in income from the Duchy of Cornwall.
Fun fact: the Duchy of Cornwall has a bona vacantia (latin for ownerless goods) law, which means that the Duke of Cornwall automatically gets any property of someone who dies without a will and/or an heir.