Real Estate Moguls King Charles and Prince William heavily criticized
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Charles and Prince William’s estates are under scrutiny after a report revealed they’re raking in millions from public services and charities through the Duchies of Lancaster and Cornwall.
The estates are expected to earn millions from leasing land to UK public services and charities. Together, the estates control over 5,400 leases and, with exemptions from business taxes, are projected to bring in at least £50 million. This includes revenue from the NHS, schools, and the Ministry of Justice, such as an £11.4 million lease to the Guy’s and St Thomas’ NHS Trust and £37 million from Dartmoor Prison.
Notably, some estate properties rented to charities, like Marie Curie and Macmillan, are now vacant due to rising costs. Despite a focus on environmental concerns, about 13-14% of residential properties under the duchies have low energy ratings, below the legal rental minimum of E. This has fueled calls for increased transparency and tax compliance, with critics urging that the estates pay corporation tax and operate similarly to the Crown Estate, which redirects its profits to the government.
The investigation has cast a chilly spotlight on Prince William’s inherited estate, revealing that dozens of his rental properties reportedly fail to meet minimum legal energy standards. The probe, conducted with Channel 4’s Dispatches, found that 1 in 7 rentals in the Duchy of Cornwall estate are at the lowest Energy Performance Certificate ratings, F or G, which fall below legal requirements. Tenants in these properties reported struggling with mould, damp, and inefficient heating systems, pushing many into fuel poverty.
One tenant shared that they can only afford to heat two rooms in their home with coal and wood, explaining, “It gets miserably cold, especially in the winter.” Another described drafts so severe that curtains move with the wind. Despite the Duchy’s £91 million in recent profits, the report found that necessary upgrades like double glazing and insulation were largely neglected, with some tenants fearing eviction or steep rent hikes if they asked for improvements.
Prince William, now the Duke of Cornwall, inherited management of the estate from his father, King Charles, a staunch environmental advocate, who oversaw it until 2022. In response, the Duchy asserts its commitment to improving properties and pursuing net-zero status by 2032. But critics argue this royal estate’s policies on energy efficiency have left tenants in untenable conditions, exposing them to undue health risks and highlighting broader flaws in the UK rental system.
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The estates are expected to earn millions from leasing land to UK public services and charities. Together, the estates control over 5,400 leases and, with exemptions from business taxes, are projected to bring in at least £50 million. This includes revenue from the NHS, schools, and the Ministry of Justice, such as an £11.4 million lease to the Guy’s and St Thomas’ NHS Trust and £37 million from Dartmoor Prison.
Notably, some estate properties rented to charities, like Marie Curie and Macmillan, are now vacant due to rising costs. Despite a focus on environmental concerns, about 13-14% of residential properties under the duchies have low energy ratings, below the legal rental minimum of E. This has fueled calls for increased transparency and tax compliance, with critics urging that the estates pay corporation tax and operate similarly to the Crown Estate, which redirects its profits to the government.
The investigation has cast a chilly spotlight on Prince William’s inherited estate, revealing that dozens of his rental properties reportedly fail to meet minimum legal energy standards. The probe, conducted with Channel 4’s Dispatches, found that 1 in 7 rentals in the Duchy of Cornwall estate are at the lowest Energy Performance Certificate ratings, F or G, which fall below legal requirements. Tenants in these properties reported struggling with mould, damp, and inefficient heating systems, pushing many into fuel poverty.
One tenant shared that they can only afford to heat two rooms in their home with coal and wood, explaining, “It gets miserably cold, especially in the winter.” Another described drafts so severe that curtains move with the wind. Despite the Duchy’s £91 million in recent profits, the report found that necessary upgrades like double glazing and insulation were largely neglected, with some tenants fearing eviction or steep rent hikes if they asked for improvements.
Prince William, now the Duke of Cornwall, inherited management of the estate from his father, King Charles, a staunch environmental advocate, who oversaw it until 2022. In response, the Duchy asserts its commitment to improving properties and pursuing net-zero status by 2032. But critics argue this royal estate’s policies on energy efficiency have left tenants in untenable conditions, exposing them to undue health risks and highlighting broader flaws in the UK rental system.
Unlock an ad-free podcast experience with Caloroga Shark Media! Get all our shows on any player you love, hassle free! For Apple users, hit the banner on your Apple podcasts app. For Spotify or other players, visit caloroga.com/plus. No plug-ins needed! You also get 20+ other shows on the network ad-free!
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