Regent Street is one of London’s best-known thoroughfares. For nearly a mile, it is lined with well-known shops, bars and restaurants. As commercial real estate goes, it is about as prime as it gets. Remarkably, practically every square inch of the street is owned by a single company: The Crown Estate. This is clearly not just any old enterprise. As well as vast tracts of central London, The Crown Estate owns property all across the UK, from castles and cottages to agricultural land and forests plus retail parks and shopping centers.
It owns more than half the UK’s entire seashore, giving it hugely valuable auction rights for offshore commercial activity, such as wind farms. Administering real estate worth at least $17.8 billion, it is one of Europe’s largest property groups. The question of who exactly owns the real estate empire is not a straightforward one, though. “The Crown Estate belongs to the reigning monarch ‘in right of the Crown,’. It is owned by the monarch for the duration of their reign, by virtue of their accession to the throne,” the company explains. “But it is not the private property of the monarch — it cannot be sold by the monarch, nor do revenues from it belong to the monarch.” (via DW)
King Charles III and His Wife Camilla Lived in the Queen’s Former Home, Clarence House in London
Clarence House is a royal residence in the City of Westminster, London. It was built in 1825–1827, adjacent to St James’s Palace, for the Duke of Clarence, the future king William IV. King Charles III and the Queen Consort, Camilla, have mainly resided at Clarence House in London since their wedding in 2005. The property was once home to Charles’s grandmother, the late Queen Elizabeth the Queen Mother. Prior to the couple moving in, the home underwent extensive renovations and was refurbished with new artwork, textiles, and a new color scheme.
Following the Queen’s death, over 100 employees of Clarence house received a notice that they may lose their jobs. This is most likely because King Charles III will be moving to Buckingham Palace. This was highly criticized, because the staff was still in their period of mourning. It was called “nothing short of heartless”. It’s also strange to lay everyone off, because the Prince of Wales will be moving to the residence, and may need help himself. (via The Guardian)
Now That He Is King, Charles Will Move Into Buckingham Palace
It is tradition for the reigning monarch of the United Kingdom to live in Buckingham Palace. With its 775 rooms, it is the biggest residential prize, official home to the reigning monarch and their spouse. A few days after Queen Elizabeth’s death, King Charles III and Queen Camilla held their first audiences in the building’s glamorous 1844 Room.
At the moment, there are renovations happening at Buckingham Palace that are not expected to be complete until 2027. So there is a chance that King Charles III will continue living in his other residence with Queen Camilla until the property is done. However, he will still be expected to spend a large amount of time in the palace in order to complete his duties as the King. (via Architectural Digest)