Here’s a look at King Charles III’s real estate holdings
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King Charles III has a real estate portfolio that’s, well, fit for a king.
The king, whose coronation was Saturday, counts farms, warehouses and office space among his real estate holdings, the Wall Street Journal reported. None of which, incidentally, does he have to pay an inheritance tax on.
Pinning down the king’s overall wealth is difficult, as such information is protected closely. However, the overwhelming majority of the monarch’s wealth comes from two property portfolios, the Crown Estate and the Duchy of Lancaster. Yearly payments from those funds — — which grew during the recent boom —increased more than 50 percent from 2012 to 2022 to $135 million, the outlet reported.
The Crown Estate, which reportedly is worth £15.6 billion, owns nearly 200,000 acres in Britain, and is broken down into four separate units: London, Regional, Marine and Windsor and Rural, CoStar reports.
The marine portion, which is valued at £5 billion, includes the entire seabed around the United Kingdom, stretching out 12 miles. Its profitability stems from controlling the rights to such vital economic activities as oil and gas pipelines, fishing, offshore wind and telecommunications, among other things, CoStar said.
The London portion has 10 million square feet of property in London, including choice luxury retail space along Regent Street, worth about £7 billion.
The regional business, valued at £1.7 billion in 2022, includes office parks, warehouses and mixed-use developments across Britain.
The Rural and Windsor portion includes about 200,000 acres of rural estates — including the Windsor Estate — and Ascot horse-racing course, CoStar said.
The second portfolio, Duchy of Lancaster, meanwhile, is composed of farmland and other choice London property, the Journal says.
“Prime property has performed well over the past 10 years,” Dan Labbad, the Crown Estate’s chief executive, told the Journal.
Other real estate holdings — namely at least seven palaces, 10 castles, dozen homes, 56 cottages and 14 ancient ruins — are controlled by the Crown Estate, the Duchy of Lancaster and the Duchy of Cornwall. Those include Buckingham Palace and Kew Palace, Insider reports.
— Ted Glanzer