How does the monarch pay for the maintenance of all of the royal residences? A good-looking earnings comes from the Duchy of Lancaster. Based on its web site, the duchy, which was based within the 13th century, “is a novel portfolio of land, property and belongings held in belief for the Sovereign in His or Her function as Duke of Lancaster.” It’s privately owned by the monarch and includes about 46,000 acres of land spanning business, agricultural and residential properties. A lot of the land holdings are in Lancashire, Yorkshire, Cheshire, Staffordshire and Lincolnshire. Nonetheless, the Duchy of Lancaster additionally has an city residential portfolio and monetary investments. In whole, the duchy is worth about £652.8 million ($797.8 million) yielding £24 million ($29 million) to the sovereign yearly.
Because the Duchy of Lancaster belongs to the reigning monarch, the inheritor to the throne derives his or her earnings from the Duchy of Cornwall. Established in 1337, it provides about £21 million ($26 million) annually to the Prince of Wales. It’s composed of greater than 600 residential and 700 agricultural tenancies, almost 35,000 acres of moors, 8,000 acres of woodland, isles and historic monuments—and that’s simply protecting the checklist quick.