How Prince Charles' huge property portfolio brought him a £1.2billion profit

The Prince of Wales has turned over a huge profit

Prince Charles' property assets, through the Duchy of Cornwall, have brought in profits of more than £1.2billion. This is £93million more than last year when the figures were £23million.

RELATED: Inside Prince Charles and Camilla's official London residence, Clarence House

The funds have been amassed by an array of different properties, estates and projects including stunning holiday cottages in Cornwall, Wales and the Isles of Scilly and a newbuild scheme in Newquay.

Loading the player...

WATCH: How much does the royal family cost the public?

The Prince of Wales is entitled to the Duchy's profits as his yearly private income and this year has been a record one.

Alastair Martin, the Duchy's Secretary and Keeper of the Records, said in the report: "After the immense challenges of 2020/21, this year has seen a return to more normal conditions and a record financial performance.

Charles' home Highgrove is part of the Duchy

"Indeed, the bounce-back from the pandemic has been quicker than anticipated for many of our tenants, and therefore for us.

"Our trading enterprises at the Nursery in Lostwithiel, Cornwall, and our portfolio of directly let holiday cottages, had a very strong year.

MORE: Prince William and Kate Middleton's sleeping arrangements are so different from everyone else's

MORE: How cost-of-living crisis is impacting royals – as property maintenance bills soar by £14.4m

"Many people chose to remain in the UK for their holidays and sought out the quality offer we provide, resulting in record bookings and visits."

What is the Duchy of Cornwall?

As heir to the throne, the Prince of Wales has control of the Duchy of Cornwall. As the official website explains, it consists "of around 53,000 hectares of land in 23 counties" and "the principal activity of the Duchy is the sustainable, commercial management of its land and properties".

The Prince of Wales also technically owns the Oval Cricket Ground 

How the ownership of the Duchy works has been laid out in the rules. "A charter ruled that each future Duke of Cornwall would be the eldest surviving son of the Monarch and the heir to the throne," which would make Prince William the Duke of Cornwall, and controller of the Duchy upon his father's accession to the throne.

Make sure you never miss a ROYAL story! Sign up to our newsletter to get all of our celebrity and royal news delivered directly to your inbox.

You're on HELLO!'s global site. Click to return to HELLO! India Go back