The finances of the British Royal Family are a little complicated, coming from a number of sources.
Of course, the Sovereign Grant allows the British government to financially support the monarch and senior Royal Family members, covering the upkeep of royal residences, staff, travel and state visits and public engagements. King Charles III and the Royal Family also receives income from the Duchies of Lancaster and Cornwall, as well as income from private investments, holdings and assets.
But how much land does the King actually own – and how much is he indirectly associated with, through the Crown Estate?
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How much land does King Charles own?
The Crown Estate belongs to the monarch, but is definitively not their private property. The monarch doesn’t manage the estate or have control over its assets – and crucially the revenues generated do not belong to the monarch personally. The Crown Estate is a business entity that manages land and property on behalf of the nation, with assets considered to be hereditary possessions of the Sovereign held ‘in right of the Crown’. All net profit is returned to the Treasury.
The land managed by the Crown Estate is believed to be around 615,000 acres, including approximately 185,000 acres across England and Wales – and rights to the seabed and foreshore around the UK. It includes agricultural land and retail properties, including the entirety of Regent Street in London. The Crown Estate also owns the seabed out to 12 nautical miles.
The Crown Estate is separate to the Duchy of Cornwall and the Duchy of Lancaster, the former of which is now owned by the Prince of Wales, and the latter by King Charles III. These duchies are private estates that provide income to their respective holders.
The Duchy of Lancaster is believed to own approximately 44,748 acres of land in England and Wales and comprises commercial, agricultural and residential properties, the majority of which are in Lancashire, Yorkshire, Cheshire, Staffordshire and Lincolnshire. These holdings include Higham Ferrers estate in Northamptonshire, which was acquired in 1266; Ogmore Estate, which has an active limestone quarry; Pontefract Castle; and Harrogate Ladies College. The Duchy also owns property in London, predominantly in the Savoy precinct off the Strand.
The Royal Family also owns private holdings, which includes the reigning monarch’s private estates, including Sandringham and Balmoral – both of which are significant in scale. Sandringham, for example, is a 20,000-acre estate. Balmoral (one of the best royal residences to visit) is bigger still, covering roughly 50,000 acres. We included Sandringham in our round-up of the best walks in Norfolk.
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Main image: King Charles III visiting the Duchy of Cornwall development Poundbury in 2023/Getty