LONDON, U.K.: Prince William plans to sell portions of the Duchy of Cornwall over the next decade to help finance more than £500 million (US$670 million) in investments aimed at supporting local communities.

The estate, one of Britain's largest private landholdings, includes farmland, commercial properties, and residential assets across England and Wales. According to The Times newspaper, the planned sales could amount to about 20 percent of the Duchy's holdings.

The funds will be used to support projects, including affordable housing and environmental initiatives.

"The Duchy should exist to make a positive impact, particularly in the communities where we can make the biggest difference," said Will Bax, Chief Executive of the Duchy of Cornwall.

"That ambition requires significant investment and, in some cases, means rebalancing what we own to be as impactful as possible to our communities, now and in the future," Bax added.

Bax said the investment program would be "largely funded by reinvesting capital from across the Duchy, alongside development income, partnerships and some borrowing."

Prince William inherited the Duchy in 2022 when his father, King Charles III, became monarch. The estate provides William with a private income and generated more than £20 million for him last year.

William and King Charles have faced criticism in recent years over how their estates have been managed.

In 2024, a report by The Sunday Times and a television documentary alleged that the two royal estates earned millions of pounds from charges imposed on Britain's National Health Service, military, and schools.

Following those reports, the Duchy of Cornwall reduced rents significantly for several charity and community tenants.