King Charles took out a large loan to renovate one of its properties over a decade ago – a move he later admitted was a risk
Since acceding to the throne, King Charles is expected to make London his home base but before he became monarch, he owned an incredible property portfolio.
The new King even made a risky move with one of his houses over a decade ago, which he previously spoke about during an interview with broadcaster Alan Titchmarsh.
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Speaking during ITV programme The Royal Restoration back in 2012, His Majesty spoke about the £20 million loan he took out to restore Dumfries House in Ayrshire back in 2007.
The decision was intended to save the house’s furniture from being sold off, and saw the royal take out a loan from his own charitable foundation.
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Although his move received some initial criticism, the father-of-two paid back the money by the time of his interview with Alan, as well as raising an additional £11 million.
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Asked about the project by the interviewer, the-then Prince of Wales responded: “You have got to get stuck in and try to make a difference.”
King Charles unveils a knitted art installation at Dumfries House
His £1.2billion Duchy of Cornwall holdings now belong to his eldest son Prince William, who has become the biggest private landowner in Britain.
The Duchy of Cornwall spans across 23 counties and includes housing developments, castles and commercial property, as well as some more surprising acquisitions – from a prison to a cricket ground, and of course, Charles’ much-loved Highgrove estate.
His Majesty and the late Queen photographed at Birkhall
Following the Queen’s funeral on Monday, meanwhile, the King and Queen Consort Camilla have returned to Scotland, most likely to stay at their private home on the Balmoral Estate, Birkhall.
The property has been described as “a unique haven of cosiness and character” by the King himself, and is where he and his wife spent some of their honeymoon following their wedding in 2005.
It is also where the royal couple isolated during the first coronavirus lockdown in 2020.
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