The Prince of Wales, Prince William, will take on the role of landlord to his father, King Charles. He will be receiving a sizable sum of money as rent from the monarch.
Since Queen Elizabeth passed away, William has assumed control of the Duchy of Cornwall, which entitles him to a 345 million pounds property portfolio.
One of King Charles’ favourite properties is the Highgrove residence, which is included in that portfolio.
When Charles became king, the Duchy, which has 128,000 acres of land and generated 21 million pounds in revenue last year, was given to him.
Thus, the King, 73, must now spend up to 700,000 pounds a year to uphold a long lease he signed on his preferred residence.
Highgrove, in Gloucestershire, was purchased by the Duchy in 1980, and the new King has since converted it into a family house.
