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Why King Charles probably won't gift royal homes to his family
King Charles III took on a whole portfolio of royal homes when he acceded to the throne, as part of what's owned by the Crown Estate, but here's why it's unlikely he'll be gifting any to his family…
The monarch has the sovereign right to use any of the homes owned by the Crown Estate as 'grace and favour' residences, which means, anyone he wishes to give there, can do so rent free.
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However, in a report published in 2005, it was outlined that the late Queen Elizabeth II decided to not categorise two of her residences as grace and favour, instead choosing to lease them.
It is likely that Charles will follow the thinking of his late mother, in order to provide the Crown Estate with an income, with the royal tenants paying rent.
Bagshot Park is leased by the Crown Estate
The homes in question are Royal Lodge, where Prince Andrew and Sarah Ferguson live, and Bagshot Park, where Prince Edward resides with his family.
These lease agreements are 75 and 50 years retrospectively, and the report explains: "In the cases of Royal Lodge and Bagshot Park, the Royal Family declined to use the Sovereign's right of 'grace and favour' use of the properties in favour of reaching agreements that provide income to The Crown Estate."
The money acquired from this set-up is significant with Bagshot Park raking in £90,000 per annum in rent, for example.
His Majesty currently lives at Clarence House
One property change which could take place this year is where His Majesty and Queen Consort Camilla reside. The royal couple are currently living at Clarence House, but are they set to relocate to Buckingham Palace, especially after Charles' coronation?
The vast palace is, at present, undergoing a £369 million refurbishment to bring the electrics and plumbing up to date. It is believed that as this project progresses the likelihood of the couple moving in increases. Naturally, nobody wants to move into a building site, so the delay seems reasonable.
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