Duchy of Cornwall offering routes to ownership for farmers

The Duchy of Cornwall is offering discounted routes to ownership for tenant farmers. <i>(Image: Richard Pohle/The Times/PA)</i>
The Duchy of Cornwall is offering discounted routes to ownership for tenant farmers. (Image: Richard Pohle/The Times/PA)
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The Duchy of Cornwall is offering discounted routes to ownership for tenant farmers.

The move comes as part of a wider plan to sell around 20 per cent of its property portfolio by value, to support a £500 million investment programme in housing, renewable energy and environmental projects.

The Duchy, a private estate that generates income for the Prince of Wales, is valued at approximately £1.26 billion and spans more than 52,000 hectares across more than 20 counties in England and Wales.

George Dunn, chief executive of the Tenant Farmers Association (TFA), said: "They have been very clear with us.

No one will be made homeless by their decision to sell.

"And where they have the ability to serve notices to quit on FBT [farm businss tenancy] agreements, they are not using these.

"They will try to create a plan for these going forward."

The Duchy is offering tenant farmers discounted purchase terms, stage payments and the option to buy part of their holding if needed.

While the TFA is disappointed by the land sell-off, it has welcomed the Duchy’s efforts to help tenants move towards ownership.

Mr Dunn said: "They are willing to be flexible by giving discounts – bigger discounts than you would perhaps otherwise expect from a private landlord – and are looking at stage payments and allowing people to buy just a bit if that works for them in terms of the financials around that."

However, some tenants may be unable to take up the offer, as land values remain high and financing remains a barrier.

The TFA is supporting those unable to purchase their holdings and is exploring alternative solutions for affected tenants.

The association also emphasised that the 20 per cent disposal target is based on estate value, not land area, so the impact on total acreage remains unclear.

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