Prince William has been rocked by the accusation that his rental homes on the Duchy of Cornwall’s land are unfit for purpose - which was just one of many claims made about the royal estate in a Channel 4 Dispatches film.
The Duchies of Cornwall, owned by the Prince of Wales, and Lancaster, held in a trust for King Charles, were the topic of investigation in a bombshell-packed episode of Dispatches, which aired on Saturday, November 2.
The two Royal duchies are private estates formed, in the case of Lancaster, more than 700 years ago. They have been passed down through generations of the Royal Family since and generate millions of pounds. Even so, their assets and activities can often feel a little unclear.
Here is what you need to know about the Duchy of Cornwall and the Duchy of Lancaster.
What is the Duchy of Cornwall and who owns it?
The Duchy of Cornwall is a significant landholding in the UK, established in 1337 by King Edward III.
Valued at more than £1 billion, it was created to provide an income for the eldest son of the reigning British monarch. The duchy comprises an extensive portfolio of land, properties, and investments primarily in south-west England, covering approximately 130,000 acres across 23 counties. Its holdings include residential, commercial, and agricultural land — and forests, coastal areas, and various historic properties.
The duchy is owned by Prince William, as he is the eldest son of King Charles III.
Ownership of the Duchy of Cornwall traditionally passes to the monarch’s eldest upon birth or the monarch’s ascension to the throne, making him the Duke of Cornwall.
The Duchy of Cornwall is thus a private estate, independent of the Crown Estate, which the reigning monarch owns. However, Prince William does not own the duchy's assets outright; he manages them as a steward and benefits from the income they generate, which supports his public, charitable, and private activities.
If there is no male heir, the duchy reverts to the monarch’s control, but since its founding, there has always been an heir to inherit the title of Duke of Cornwall.
The duchy’s revenue provides the Duke of Cornwall with a significant income. Like his father before him, Prince William uses the income primarily to fund his official activities, charitable work, and personal expenses — and those of his immediate family. In the last financial year, the prince received £23.6m from the estate.
In addition to its financial role, the Duchy of Cornwall has been involved in pioneering environmental and social initiatives, especially under King Charles III’s tenure. Many duchy properties have been developed to focus on sustainability and conservation, reflecting the King’s long-standing commitment to environmental issues.
The Government’s Treasury must approve all property transactions of £500,000 or more. The accounts are shown to the House of Commons and the House of Lords annually.
What is the Duchy of Lancaster and who owns it?
The Duchy of Lancaster is a private estate that has belonged to the British monarch since the medieval period, and it serves as a source of independent income for the reigning king or queen. Unlike the Duchy of Cornwall, which traditionally supports the heir to the throne, the Duchy of Lancaster supports the sovereign directly.
The duchy provides income to the British monarch to cover official and private expenses that the Government does not fund. Its profits go to a fund known as the "Privy Purse," which supports the monarch's personal and official expenditure.
King Charles III, in his role as monarch, owns the duchy. It is held in trust, meaning that it is not the king’s personal property, but he benefits from its income.
The duchy was founded in 1265 when lands were granted to Edmund Crouchback, the younger son of King Henry III. It officially became the Duchy of Lancaster in 1351 when it was established for John of Gaunt, a son of King Edward III. When Henry IV (John of Gaunt’s son) took the throne, he decreed that the duchy would remain separate from other crown assets and be held in perpetuity for the reigning monarch.
The duchy owns about 45,000 acres of land across England and Wales. Its assets include agricultural and commercial properties, urban developments, historic buildings, and natural resources.
The duchy is overseen by the Chancellor of the Duchy of Lancaster, a senior Government minister. However, the estate is managed independently, with its own administrative structure and professional team.
The duchy's revenue is distinct from the Sovereign Grant (funded by UK taxpayers) and provides a source of private income. In the last financial year, the King received £27.4m from the Duchy of Lancaster.
Do the Royals pay tax on the duchies?
The King and the Prince of Wales both pay income tax on the profits they receive from the estates, but the Duchies themselves are exempt from a number of businesses taxes.
They do not pay corporation tax or capital gains tax, and inheritance tax is not paid when they are passed down the royal line of succession.
What did Channel 4’s Dispatches documentary claim?
Channel 4’s Dispatches programme, The King, The Prince and Their Secret Millions, and Sunday Times, investigated the Duchies of Lancaster and Cornwall.
The investigation found the estates charge public bodies, including the NHS, state schools, and the armed forces, for use of their land — and the income they receive from them goes well into the millions.
Dispatches reported that the Duchy of Lancaster charged £11.4m over 15 years to Guy's and St Thomas' NHS Trust in London for storing ambulances in an estate-owned warehouse. The Duchy of Cornwall, meanwhile, reportedly received over £1m from the navy since 2004 for jetties and mooring on Cornish land.
The programme also raised concerns about the quality of some duchy rental homes, with 14 per cent in Cornwall and 13 per cent in Lancaster failing minimum energy standards — a legal requirement since 2020.
The Duchy of Lancaster received at least £28m from wind farm cabling fees due to a feudal right on its land, despite the King’s public statements on redirecting profits from Crown Estate wind farms for public benefit, Dispatches reported.
The programme also claimed the Duchy of Cornwall has a lucrative deal with the Ministry Of Defence to carry out army training on Dartmoor.
Conservative Party councillor Philip Sanders said on the programme: “I see no reason why the Duchy couldn’t agree to let the MoD use the moor without charge [...] it’s the training of our troops.”
What have the royal estates said?
A Duchy of Cornwall representative said: "The Duchy of Cornwall is a private estate with a commercial imperative which we achieve alongside our commitment to restoring the natural environment and generating positive social impact for our communities.
"Prince William became Duke of Cornwall in September 2022 and since then has committed to an expansive transformation of the duchy.
"This includes a significant investment to make the estate net zero by the end of 2032, as well as establishing targeted mental health support for our tenants and working with local partners to help tackle homelessness in Cornwall."
A Duchy of Lancaster representative said: "The Duchy of Lancaster operates as a commercial company, managing a broad range of land and property assets across England and Wales. It complies with all relevant UK legislation and regulatory standards applicable to its range of business activities.
"The Chancellor of the Duchy of Lancaster is responsible to the Sovereign for the administration of the Duchy. However, he/she delegates certain functions, particularly those regarding asset management, to the Duchy Council.
"While His Majesty The King takes a close interest in the work of the Duchy, the day-to-day management of the portfolio is the responsibility of the Council and executive team.
"The duchy has made a number of key environmental improvements in recent years, delivering a significant increase in the number of A+, A and B EPC ratings awarded to our properties as a result of refurbishment or restoration works.
"Currently, over 87 per cent of all Duchy let properties are rated E or above. The remainder are either awaiting scheduled improvement works or are exempted under UK legislation."
