King Charles III Is Downsizing His Real Estate Portfolio & Letting This Major Piece of Property Go

It’s the end of an era for King Charles III as he bids goodbye to one of his beloved homes in his massive real estate portfolio. He has reportedly made the difficult decision to give up his Llwynywermod estate in Wales as he downsizes the royal budget.

Charles was “passionate” about the stunning piece of property that he bought in 2007 when he was Prince of Wales — it was a way for him to connect to the Welsh community, according to a Telegraph source. Now that he is king, it was “unlikely” that he would be able to visit the home regularly. The property is a part of the Duchy of Cornwall, which is controlled by the Prince of Wales, a title now held by Prince William. So, Charles and Queen Camilla have been paying rent on Llwynywermod and will continue to do so until the lease expires at the end of the summer.

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William’s representative has stated that he will be staying at hotels in Wales “to help out the local economy,” so he won’t be using his father’s beloved home either. The Telegraph believes that “Llwynywermod will be let out commercially, either for holidays or on a long-term lease” to generate income for the royal family. But don’t feel sorry for King Charles as he has plenty of homes to ping-pong from, including Buckingham Palace, Windsor Castle, Highgrove, Birkhall, Clarence House, Sandringham, Balmoral, and a vacation home in Romania. Phew, that’s a lot of upkeep!

The royal family are looking for ways to make more money on their properties since the palace budget is quite bloated these days. Charles has been adamant about modernizing the monarchy and keeping a lean-and-mean royal budget, so the public may have more opportunities to see Balmoral and Buckingham Palace as there are ongoing discussions to give “the paying public greater access” to these majestic places. Charles’ budgeting strategy might be a big win for royal fans in the end.

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Before you go, click here to see the 100 best photos of the royal family from the past 20 years.

Launch Gallery: King Charles III’s Entire Dating History, From 1968 to Now

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