Prince William, 40, has taken over as King Charles’ new landlord and will be collecting hundreds of thousands of pounds in rent from his father, glamsquad reports
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According to reports, Prince William has taken over the Duchy of Cornwall and its £345 million property portfolio, which includes King Charles’ beloved Highgrove home.
The 128,000 acres of land, which brought in £21 million last year, were passed down from Charles to his son when he became king.
This means that the 73-year-old King must pay up to £700,000 per year to honor a long lease on his favorite home that he signed.
The Duchy purchased Highgrove in Gloucestershire in 1980, and the new King has since transformed it into a family home.
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The new Prince of Wales’ property portfolio also includes HMP Dartmoor and the Oval cricket ground in South London.
“The King has a long lease and pays rent on Highgrove House and surrounding land,” a source told the publication.
After his mother died last month, the King went to Highgrove for a day. It is Charles’ favorite residence and is only a short drive from Queen Consort Camilla’s private residence in Wiltshire