With accession of Prince Charles to the throne, Prince William automatically inherits the Duchy of Cornwall.
Thanks to the ownership of a landed estate of more than 52,000 hectares (128,000 acres), which also makes him one of England’s biggest landowners. The duchy’s net assets were valued at more than £1bn, the bulk of which came from investment property assets.
The Duchy of Cornwall owns land across 20 counties in England and Wales – the majority of it not in Cornwall – stretching from Devon to Kent, and Carmarthenshire to Nottinghamshire. Much of the estate comprises farmland, but it also includes homes and commercial properties, forests, rivers, coastline and about – a third of the Dartmoor national park, which was once used for mining minerals such as tin and copper. Some of the estate’s more unusual holdings include Oval cricket ground as well as Dartmoor prison.
He also inherits the residential development project at Nansledan, an extension to the town of Newquay in Cornwall, where more than 4,000 homes and a high street are being built in a project expected to last three decades.