The Duchy of Lancaster has a substantial portfolio of commercial properties in England and Wales. These assets provide a significant proportion of the Duchy’s income.
The Savoy Estate in London is the largest asset in the urban portfolio, comprising mainly office and retail accommodation along with The Queen’s Chapel of the Savoy.
To the north and south there is the Strand and Embankment and to the west and east the Savoy Hotel and Somerset House. The estate includes Wellington House which has recently undergone a major refurbishment and let within three months of practical completion.
The Harrogate Estate in the north includes a care home, hotel and a school together with The Stray, 103 hectares of open space, which will accommodate part of the Tour de France route in summer 2014.
A new residential development is due for completion in Harrogate later this year following the conversion of an 18th century property and the building of a new apartment complex. The two buildings will be named Granville and Villiers House in honour of 19th century Duchy Chancellors Sir Granville George Leveson-Gower and George Villiers, 4th Earl of Clarendon.
The Urban portfolio is carefully monitored for asset management opportunities to enhance income.