According to reports, roughly 20 per cent of the Duchy’s property portfolio will be sold, raising an estimated £500 million (around $670 million). Proceeds are earmarked for investment in affordable housing, community development and environmental initiatives, including renewable energy and wildlife restoration projects.

Will Bax, chief executive of the Duchy of Cornwall, said the move reflected a shift in purpose for the estate. He told The Times that the Duchy “shouldn’t just exist to own land” but should aim “to make a positive impact… where we can make the biggest difference”. This strategy will see future efforts focused on five key areas — the Isles of Scilly, Cornwall, Dartmoor, the Bath area and Kennington in south London — where the Duchy believes it can have the greatest social and environmental effect.

The plan comes amid ongoing scrutiny of royal finances, with aides saying William has been reviewing Duchy operations since taking control. Large asset sales and reinvestments must be carried out under long-standing governance arrangements that protect the estate’s long-term value.