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The United Kingdom is observing an official mourning period ahead of Queen Elizabeth II's funeral Monday, Sept. 19. The Queen’s death brings about a new reigning monarch, King Charles III, and a change in who controls what wealth in the family.
On this episode of Bisnow Reports, we're speaking with Bisnow UK Editor Mike Phillips and reporter David Thame about the real estate holdings of the Crown Estate, how the queen's death and the ascension of the new king affect the monarchy's property empire, and how real estate plays a role in the wealth and power of the British royal family.
“It really is a property company, like no other in the world,” Phillips said. “It traces some of its portfolio back to Edward the Confessor. So that's the seventh, eighth century. The majority of its portfolio, the ownership by the British Crown, dates back to around 1066, the time of William the Conqueror.”
