Royal estates ‘will make millions from NHS, armed forces and state school rents’

The King and Prince of WalesPrivate properties have entered into lease agreements with the company worth millions of pounds armed forces, NHS and state schools – as reported.

An investigation by Dispatches Channel 4 and Sunday times examined the lands and estates belonging to two leading members of the royal family in the Duchies of Lancaster and Cornwall.

The inquiry heard that last year the Duchy of Lancaster entered into a deal to house a new fleet of electric ambulances owned by Guy’s and St Thomas’ NHS Trust IN Londonin one of the estate’s warehouses for £11.4 million over 15 years.

It also found that since 2004, the Duchy of Cornwall has charged the navy more than £1 million for the construction and use of jetties and warship moorings on the Cornish coast.

The investigation found that the principality would also make around £600,000 over the life of six different lease agreements with local state schools.

The Duchy of Lancaster is a portfolio of land, property and assets covering the entire territory England AND Wales entrusted to the Sovereign, encompassing key urban developments, historic buildings, high-quality agricultural land and areas of great natural beauty dating back to the 14th century.

The Duchy of Cornwall is a similar portfolio worth over £1 billion and provides income to the heir to the throne.

Both properties are exempt from paying corporate income tax Capital gains Tax.

Further claims against the Duchy of Cornwall include its signing a £37 million deal to lease Dartmoor Prison to Ministry of Justice and contract with Ministry of Defense to enable the Armed Forces to train on Dartmoor land.

Last year, the king asked that profits from the £1 billion-a-year Crown Estate wind farm deal be used for the “wider public good” rather than a financial injection into the monarchy.

However, the investigation also found that Charles would still have made at least £28 million from wind farms due to his feudal right to charge for cables running through land belonging to the Duchy of Lancaster.

There are further findings from the investigation, in cooperation with Mirror newspaper that private residential properties rented by both principalities do not meet minimum energy efficiency requirements.

The investigation found that around 14% of homes rented by the Duchy of Cornwall and 13% by the Duchy of Lancaster have an efficiency rating of F or G, even though it is illegal for landlords to rent properties rated below E as of 2020. .

According to accounts published by the estate in July, Charles’s annual income from the Duchy of Lancaster increased by 5% to £27.4 million in 2023/24.

The accounts show that last year William received an annual private income of more than £23.6 million from the Duchy of Cornwall.

The revenues of both principalities are independent of the taxpayer-funded sovereign subsidy that covers the costs of the monarch’s official duties.

Duchy of Lancaster

Neither king nor Prince Wales is legally obliged to pay income tax, but both countries have offered to do so.

In response to the claims, a spokesman for the Duchy of Lancaster said: “The Duchy of Lancaster operates as a trading company, managing a wide range of land and property in England and Wales. It complies with all relevant UK laws and regulatory standards applicable to its scope of business activities.

“The Chancellor of the Duchy of Lancaster is responsible to the Sovereign for the administration of the Duchy. However, it delegates some functions, especially those relating to property management, to the Principality Council.

“While His Majesty the King takes a keen interest in the work of the Principality, the day-to-day management of the portfolio is the responsibility of the Council and executive team.

“The Principality has made a number of key environmental improvements in recent years, ensuring a significant increase in the number of A+, A and B EPC ratings awarded to our properties following renovation or refurbishment works.

“Currently, over 87% of all rental properties in Duchy are rated E or above. The rest are either awaiting planned improvement works or are exempt under UK legislation.”

A spokesman for the Duchy of Cornwall said William was involved in the “extensive transformation” of the estate.

In a statement they said: “The Duchy of Cornwall is a private estate with a commercial imperative, which we pursue through our commitment to restoring the natural environment and generating positive social impact in our communities.

“Prince William became The Duke of Cornwall in September 2022 and has since engaged in the expansive transformation of the Principality.

“This includes significant investment to drive net zero properties by the end of 2032, as well as providing targeted mental health support for our tenants and working with local partners to tackle homelessness in Cornwall.”

Buckingham Palace declined to comment.