King Charles III gives up his Welsh property as he downsizes his property portfolio

King Charles III decided to give up his Welsh property to downsize his property portfolio with the intention of reducing costs. The British royal family has previously been criticized for their careless spending so this might be the first of several moves to change the perfection of the public in regard to that matter.

Charles and Queen Camilla were crowned as the new monarchs of the United Kingdom on May 6 at Westminster Abbey in a historic ceremony that had not been celebrated since 70 years ago. Since then, Charles has shown in the first few weeks of his reign that he is fully committed to doing a great job as the leader of the country.

A few days ago, the Telegraph reported that the king plans on giving up the lease of Llwynywermod. He bought the property in 2007 via the Duchy of Cornwall when he was still the Prince of Wales and paid £1.2 million for it. The property will now be out on the market either for holidays or a long-term lease.

On top of that, it was also revealed that King Charles III will continue being “passionate” about Wales but he decided to give up this property as it was highly unlikely that he will continue using it as much now that he is on the throne and he wants to reduce costs.

In the same vein, it is being said that Charles is also looking to reduce costs with his other properties such as Highgrove, Birkhall, Clarence House, Sandringham and Balmoral. This would also include official residences such as Buckingham Palace and Windsor Castle. Although no decision has been made, he could be thinking of taking some drastic decisions to continue downsizing his property portfolio.