Duchy of Cornwall assets top £1bn

The Duchy of Cornwall’s assets are worth more than £1 billion, annual accounts have shown.

The assets of the Duchy, a portfolio of land, property and investments which provide an income for the Prince of Wales, have risen £33 million to £1,099,748,000 in 2018/2019.

Charles’s annual income from the duchy is £21.6 million, down just over £100,000 on the previous financial year.

Although the income generated for Charles fell slightly, the Duchy still expects to achieve its target of 2.6% annualised growth over the five-year period to March 2020.

The Duchy’s estate extends across 23 counties in England and Wales, it includes 52,760 hectares of land and 2,360 hectares of woodland. Properties owned by the estate include the Oval cricket ground in south London.

In keeping with Charles’ long-term interest in sustainability it has opened its first hydro-electric generator, on Dartmoor, and a number of new heat pumps in houses and workshops.

The accounts reported an 87% reduction in emissions from buildings used by the estate but there has only been an 18% reduction in travel-related emissions.

Duchy tenants were asked in a survey how satisfied they were with the overall quality of their home, workshop, farmhouse or farm buildings. The average score of those replying satisfied or very satisfied was 73%.