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UK News King Charles Has to Pay Prince William Rent Now, Reportedly

17:50  04 october  2022
17:50  04 october  2022 Source:   marieclaire.com

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After *spins wheel* Kris Jenner forgetting she owned a Beverly Hills condo, here's today's extremely unrelatable property news.

null © Photo by Tim Graham / Getty null

Prince William doesn't just have a new set of titles following King Charles' accession to the throne, he also inherited a bunch of stuff along with the "Prince of Wales" and "Duke of Cornwall" names.

According to Hello!, the Duchy of Cornwall generated £23 million (~$26 million) of income for then-Prince Charles in the last tax year, thanks to all the investments made by the Duchy as a company of sorts, as opposed to investments made by Charles as an independent person.

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And among those investments is the famed Highgrove House, in Gloucestershire, which is one of Charles' favorite private homes—and which now belongs to his son.

That means that William is now entitled to charge Charles a whopping £700 thousand (~$800 thousand) in annual rent for the privilege of using the home.

A presenter on ITV's Lorraine said, "Prince William is now charging his father rent, so the relationship has to be good" (via Express).

Royal reporter Roya Nikkhah answered, "It's an interesting role reversal.

"As part of the whole shake-up in the hierarchy and the line of succession, William now takes on his father's role of Duke of Cornwall, and with that comes the Duchy of Cornwall.

"What is that? It's an enormous sway, the portfolio of land and property and interests, mostly across the southwest of the country.

"But it includes Highgrove House, which is Charles's private home in Gloucestershire and, as part of that, has an interesting lease arrangement. He has to pay his son £700,000 a year as part of that lease. So father paying son, interesting role reversal."

Interesting indeed!

Charles unveils first plaque as King in Glasgow museum Queen opened .
The King, 73, paid a visit to The Burrell Collection in Glasgow - which his mother first opened in 1983 - following its extensive six-year renovation. The Burrell Collection features 9,000 historical objects - including 200 medieval tapestries, a suit of armour dating back to the 1560s and ceramic 'Tomb Guardians' from the Tang Dynasty from 618-980. The late Queen first opened the collection to the public on October 21, 1983 and today the King was pictured viewing the same statue of Buddhist disciple Ming Dynast from 1484 his mother had admired almost 40 years earlier.

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This is interesting!