Prince William is reportedly planning to sell 20% of the Duchy of Cornwall. It was reported that the sales would raise an estimated $670 million. The money would seemingly go toward housing, nature recovery, and renewable energy projects. The Prince of Wales would reportedly use the estate to further causes behind his working life.
Prince William reportedly wants to support housing and local communities with royal estate sale
The plans emerged in May. The Times reported that the Duchy would refocus around five “heartlands.” They reportedly include Cornwall, Dartmoor, the Isles of Scilly, Bath, Dartmoor, the Bath area, and south London. The Duchy’s chief executive, Will Bax, said the aim is to shift the estate from a traditional landholder to a vehicle for wider social impact.
“Perhaps we don’t need to be a part of that place,” Bax told the outlet, if the Duchy sees no opportunity for positive impact. He said that where there is social need, the estate would aim to be “a great partner.”
One of the key ideas is reportedly inspired by Prince William’s Homewards project, which looks for local answers to homelessness. Estate director Ben Murphy said in 2024 that William asked the team to address the issue in Cornwall and other areas where the estate resides.
According to PEOPLE, the Duchy is building social housing in Nansledan, Newquay. A Market Street development is also planned in the town. It would be one of the first newly built high streets of its kind in more than a century in the U.K. It is set to be completed in 2028.
Meanwhile, William has reportedly directed that the $2 million a year he used to receive in rent from the local prison in Dartmoor go to the community. The prison has been empty since July 2024. The money will go through the Princetown Community Fund, which will support projects with lasting social, economic, and environmental benefits.
For context, the estate provides the Prince of Wales with an annual private income of nearly $31 million. When he becomes King, he will reportedly pass control to his eldest child, Prince George.
