The royal has bowed to pressure over residents’ right to buy freeholds on parts of his hereditary land
The Prince of Wales will allow tenants in two of the most environmentally sensitive areas of his 55,000-hectare estate the right to buy the freehold to their homes for the first time., will be given the new right under the 2024 Leasehold and Freehold Reform Act, when secondary legislation is introduced by the government to bring it into force.
The estate, whose profits gave William an income of £23.6m in the year to 31 March, has not informed its tenants about the changes yet but officials have confirmed the outline of the deal to the, which stretches across 23 counties, was created in 1337 and the laws governing residents and tenants on its land are complex.
Alan Davis owns a house on the edge of the Garrison – a historic fortification built on the Scilly island of St Mary’s towards the end of Elizabeth I’s reign – that has only 35 years left on a 99-year lease.He welcomed the chance to extend it to 990 years if the cost is not prohibitive and any buyback is fair. “It will depend if the duchy is willing to pay the commercial rate for a freehold house to buy back our leasehold,” he said.
Davis, 82, a long-term critic of the duchy, accuses William and his staff of milking the islands. “They take out ground rent… the leaseholder does the work and pays for maintaining the property. This can be from £1,500 to £7,000 per annum,” he said.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Queen Camilla’s son makes rare comment about William and HarryTom Parker Bowles has made a rare comment about his stepbrothers Prince William and Prince Harry.
Read more »
Prince William suffers major personal loss as year draws to a closePrince William’s equerry Lieutenant Commander Rob Dixon is stepping down from his role after four years of service, marking the end of a pivotal chapter for the heir to the throne.
Read more »
Prince William and Kate Middleton Release Touching Christmas CardThe Duke and Duchess of Cambridge shared a heartwarming Christmas card featuring an animation of their family on the grounds of Anmer Hall. The card utilizes a previously released image from September, symbolizing Princess Kate's recovery from recent health challenges.
Read more »
Princess Catherine and Prince William Release 2024 Christmas CardThe Prince and Princess of Wales have shared their annual Christmas card, featuring a heartwarming moment from Catherine's cancer update video.
Read more »
Trump dishes on Prince William meeting as absent King Charles battles cancerDonald Trump and Prince William seemed to strike up an easy rapport during their weekend meeting in Paris, with the US president-elect sharing insights into their 'great' conversation about family, health and even the Prince's good looks.
Read more »
Prince William to meet Donald Trump at Notre Dame reopening ceremonyPrince of Wales to hold meetings with US president-elect and Jill Biden as heads of state attend Paris event
Read more »