Prince of Wales in £50m land deal
THE Prince of Wales is to add 8903ha (22,000 acres) to the Duchy of Cornwall in a £50 million deal with the Prudential financial group, according to The Daily Telegraph.
Some 60 farms and a further 21 non-residential tenancies across eight counties are involved, increasing the Duchys acreage from 50,587ha (125,000 acres) to 59,590 (147,000 acres).
Tenant farmers will be informed of the proposed change of ownership today.
The largest parcel of land is in Herefordshire. Other land is in Cambridgeshire, Kent, Norfolk, Oxfordshire, Shropshire and Sussex.
The acquisition has been made possible by the sale of a large part of the Duchys stock-market portfolio.
The newspaper says the Duchy has been seeking more agricultural land for some time, in line with the Princes belief that it should be more concerned with farming.
- Charles backs family farms, FWi, 28 May 1999
- Financial Times 29/10/99 page 1