Prince William recently announced the decision to sell 20% of Duchy properties, aiming to develop new homes. This strategic move focuses on increasing housing opportunities while shifting the Duchy’s purpose toward social value and environmental responsibility.
Strategic Sale and Housing Development
The sale will target five key areas owned by the Duchy:
- Bath
- Cornwall
- Dartmoor
- Isles of Scilly
- Kennington, South London
By reallocating resources, the Duchy plans to construct an additional 12,000 homes by 2040. Approximately one-third of these units will be affordable housing, addressing the urgent need for more inclusive living options.
Investment in Community and Environment
To facilitate this housing initiative, the Duchy will invest £161 million specifically for residential developments. This investment also includes £123 million dedicated to creating rural job opportunities and supporting renewable energy projects.
Encouragingly, a significant focus will be placed on enhancing solar power availability in South West England, promoting sustainable energy practices.
Reputation and Transparency
As the Duchy undergoes transformation, there is growing public demand for transparency in royal finances. Following the Andrew Mountbatten-Windsor scandal, calls for clearer financial disclosures regarding royal properties have intensified.
Critics, such as former Home Office minister Norman Baker, have described the Duchy as a “royal fruit machine.” Baker argues that the shift towards developing more housing will increase income through more tenants and properties. With its new strategy, the Duchy aims to demonstrate a commitment to social impact rather than mere land ownership.
According to chief executive Will Bax, the focus should be on positively impacting society, moving beyond traditional landholding purposes.
