King Charles gives up major royal residence to cut costs

like lowering the temperature in the Buckingham Palace pool to reduce energy costsNow, Charles has decided to give up his Welsh Estate, called Llwynywermod, which was refurbished by the Monarch and Queen Camilla after they bought it for £1.2 million in 2007.

But now that it is “unlikely” that the property will be used in the same way by William as the new Prince of Wales, royal sources believe Llwynywermod will be commercially leased out for either holidays or long-term stays. According to Forbes, Charles has a property portfolio worth about £20 billion, including ten castles, 12 homes, 56 cottages and 14 ancient ruins.Charles owns an array of properties privately and through the Crown Estate, which the King oversees but cannot necessarily liquidate.

Charles’ two primary personal homes, Clarence House in London and Highgrove House in Gloucestershire, were purchased through the Duchy of Cornwall when he was Prince of Wales and were automatically given to Prince William when he inherited the title.

Property Property Latest News, Property Property Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Warne family to sell spin king’s planned Portsea party pad - realestate.com.auA Portsea pad Shane Warne had planned to turn into a paradise with its own bowling alley and jet ski range is ready to bowl over the coastal Victorian hamlet’s property market.
Source: theheraldsun - 🏆 17. / 59 Read more »