King Charles III is expected to pay his son Prince William up to £700,000 a year in rent for his Highgrove estate, following William’s inheritance of the Duchy of Cornwall, it has been revealed.
In becoming the new Prince of Wales, William, 40, has gained control of the Duchy and its £345 million property portfolio along with it, which includes his father’s favoured Gloucestershire home.
Charles, 73, retreated to Highgrove the day after his mother Queen Elizabeth II died on September 8, and has openly adored the property since it was purchased by the Duchy in 1980.The Duchy marks the territory of land owned by a Duke or Duchess and is passed onto the eldest son of the leading British monarch.
Following this tradition, William has become the biggest private landowner in the country, as the Duchy owns 128,000 acres of land, and now Charles is expected to pay a hefty fee for the lease he signed on Highgrove house under the Duchy.
Read more on ok.co.uk
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