The King and the Prince of Wales’ private estates have struck rental deals worth millions of pounds with the armed forces, the NHS and state schools, it has been reported. An investigation by Channel 4’s Dispatches and the Sunday Times examined the land and properties the two leading royals own through the Duchies of Lancaster and Cornwall. The investigation reported that last year the Duchy of Lancaster agreed a deal to store a new fleet of electric ambulances, owned by Guy’s and St Thomas’ NHS Trust in London, in one of the estate’s warehouses at a cost of £11.
4 million over 15 years. It also said the Duchy of Cornwall had charged the navy more than £1 million since 2004 to build and use jetties and moor warships on the Cornish coastline. The duchy will also earn around £600,000 over the lifetime of six different leases agreed with local state schools, the investigation found.
The Duchy of Lancaster is a portfolio of land, property and assets across England and Wales held in trust for the Sovereign, including key urban developments, historic buildings, high-quality farm land and areas of great natural beauty, dating back to the 14th century. The Duchy of Cornwall is a similar portfolio valued at more than £1 billion which provides an income for the heir to the throne. Both estates are exempt from paying Corporation Tax or Capital Gains Tax.
Further claims made of the Duchy of Cornwall include that it signed a £37 million deal to lease Dartmoor Prison to the M.
