King Charles is streamlining family members in Royal residences
Nothing is off limits as famously frugal King Charles III sets a fast-paced cost-saving mission.
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He is not yet six months into the role, but King Charles III is on a fast-paced cost-saving mission.
From The Firm’s property portfolio, institutions, land, palaces, treasures and art, nothing is off limits in his forensic review.
This month, the US-based Duke and Duchess of Sussex learned they were being evicted from their British home Frogmore Cottage, reportedly in favour of Andrew, the Duke of York.
Prince Andrew, who currently resides in the larger Windsor home, Royal Lodge, would need the downsize if King Charles presses ahead with a rumoured cut to his annual £249,000 ($446,000) grant.
“The King is not being unkind, he’s been told that with streamlining the people – Harry, Meghan and Prince Andrew – he must streamline the properties that come with beneficial rents to members of the royal household,” royal commentator and editor in chief of Majesty Magazine Ingrid Seward said.
“Charles has been ordered to review all properties owned by him and The Crown Estates with a view to making savings,
“Charles has always said he’d optimise the monarchy’s wealth when he became king, and at the beginning of each reign comes a new attitude, this is a new hand on the tiller.”
The property boom of recent years has inflated the value of the British Royal family’s 14 royal residences, including Buckingham Palace, Clarence House, Kensington Palace and Windsor Castle.
The royal territory also includes the British coastline along Isles of Scilly, a large swathe of seabed in the UK, Ascot racecourse, the Oval cricket ground in South London, and many of the city’s London’s private members’ clubs hidden on estates.
Overall, American magazine Forbes estimates its empire to be worth a collective £23 billion ($A41 billion) empire, taking in its collection of lands and holdings including the Crown Estate ($A28.5 billion), the Duchy of Cornwall ($A1.8 billion), the Duchy of Lancaster ($A1.1 billion) and the Crown Estate Scotland ($A718 million).
Royal commentator Richard Fitzwilliams said the famously-frugal King – who has a history of patching up his old tweed jackets – hopes a “clear out” will curry favour with younger, less-supportive generations.
“He knows young people think the monarchy is a waste of money and a clear out will help alter perceptions; he expects to make a favourable impression,” Mr Fitzwilliams said.
“The king is a symbol of national unity, he knows he has to keep the nation on side.”
ROYAL ESTATES
Here is a breakdown of some of the estates they own – and the property monopoly going on:
Frogmore Cottage
Worth: Not available
The 10-bedroom home within the grounds of Windsor Castle was a wedding gift from the Queen to Meghan Markle and Prince Harry in 2018.
They had spent $A4.3 million of taxpayers’ money modernising the 19th century home but paid it back when they moved to Montecito.
Occupants: Prince Harry’s cousin Princess Eugenie and her husband, Jack Brooksbank, use Frogmore when in the UK with her family. It is currently vacant, but the The Duke of York is said to have been offered the keys to the property.
Adelaide Cottage
Worth: $A1.89 billion
Built in 1831 by King William IV for his wife Queen Adelaide, the stunning four-bedroom property is located on the grounds of Windsor Home Park, 40km from central London. It was renovated in 2015.
Occupants: The Prince and Princess of Wales recently relocated their family there. The royal retreat has been used by a number of monarchs: Queen Victoria often visited for breakfast or tea. Its most notable resident of the past century, though, was Group Captain Peter Townsend, Princess Margaret’s great love.
Kensington Palace
Worth: $A934 million
The birthplace and childhood home of Queen Victoria, the 547-room palace is set in Kensington Gardens, in the Royal Borough of Kensington and Chelsea in London.
It contains many public and private apartments within the building and its grounds.
Occupants: The 20-room apartment 1A was formerly the official residence of the Prince and Princess of Wales and their children. From 2013 to 2019, Prince Harry resided at Nottingham Cottage. Kensington Palace currently contains the offices and residences of The Duke and Duchess of Gloucester, The Duke and Duchess of Kent and Prince and Princess Michael of Kent. Aside from royals, it also hosts members of the military, courtiers, staff, and citizens who pay market rent.
Buckingham Palace
Worth: $A7.33 billion
The palace has been the official London home of the royal family since 1837 and is regularly opened to visitors for tours.
Within the 775-room official residence are 19 state rooms, 52 bedrooms, 78 bathrooms and 92 offices. It is manned by 188 staff.
Occupants: Once renovated, the palace will become the new home of King Charles III and Camilla, Queen Consort. Queen Elisabeth II resided there until her death in September.
“The Queen did not enjoy living in Buckingham Palace,” says royal historian Robert Lacey.
“It was always a matter of duty and she considered it her office.”
The King has offered a permanent place at the palace to Prince Harry whenever he visits the UK.
Windsor Castle
Worth: $A3.24 billion (in 2018)
Set within sprawling 13 acres of rolling lawn and horse stables, the 11th century castle in Berkshire has been owned by the British royal family for more than 900 years.
The state apartments – St George’s Chapel where the Queen and her husband Prince Philip lay, Queen Mary’s Dolls’ House, the Long Walk, and Windsor Great Park – are open to the public, attracting 1.3 million visitors each year.
Occupants: Queen Elizabeth II and her sister Margaret retreated there during World War II and the Windsors spend weekends there.
During the coronavirus pandemic, it became the Queen’s fixed base. With the Queen’s passing, King Charles inherited the castle and, ultimately, Prince William and Princess Kate may occupy it.
Clarence House
Worth: $A1.04 billion
The three-storey stuccoed mansion on The Mall in Westminster, London, was designed by John Nash and built between 1825 and 1827. Many of the rooms look out into the garden. Every year, it is opened to the public in August for guided tours of five rooms on the ground floor.
Occupants: The townhouse was the home of Queen Elizabeth II and Prince Philip after their marriage in 1947. The house has been home to King Charles III and Camilla, Queen Consort, since 2003. They stay there until renovations at Buckingham Palace are completed.
Balmoral Castle
Worth: $A208.48 million
Balmoral in the Scottish highlands was bought originally by Queen Victoria’s husband, Prince Albert, in 1852. The existing castle was replaced in 1856 and there are now 150 buildings across 50,000 acres.
Occupants: The castle was widely considered the Queen’s favourite summer vacation retreat and is where she chose to die.
“I think Granny is the most happy (there),” said Princess Eugenie in a documentary made for the Queen’s 90th birthday.
“Walks, picnics, dogs – a lot of dogs, there’s always dogs – and people coming in and out all the time,” said Eugenie.
The year before the Queen’s death, it was reported there had been talks that Balmoral could turn into a “museum” dedicated to the Queen as part of a property reshuffle.
Sandringham House
Worth: $A1.16 billion
Located in Norfolk, three hours north of London, Sandringham House was built in 1870 by The Prince and Princess of Wales, who later became King Edward VII and Queen Alexandra.
The Georgian mansion stands within a 20,000 acres estate.
Occupants: The House has been the private home to generations of British Monarchs. It now belongs to King Charles. Prince William and Princess Kate have a home, Anmer Hall, on the estate. Sandringham is also where the royal family spends Christmas and engages in the December 25 custom walk to nearby St. Mary Magdalene church.
St James’s Palace
Worth: Not available.
Built by Henry VIII between 1531 and 1536. The setting where King Charles III was proclaimed as monarch and Prince George was christened in 2013.
Occupants: Princess Anne and Princess Alexandra will continue to use it as their London base.
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