Prince William acquires ownership of The Oval after King Charles III's accession to the throne

Prince Charles found himself shouldering the responsibility of being the monarch of the United Kingdom shortly after the demise of Queen Elizabeth II.

Following his accession, the ownership of his assets was passed on to his eldest son and heir apparent,Prince William. It also earned him the title ofthe 25th Duke of Cornwall.

Along with the title, Prince William also inheritedthe Duchy of Cornwall. The Duchy is a private estate which was founded by King Edward III in 1337, with the aim of offering his son Prince Edward a source of income.It has since been passed on as an inheritance. The website of The Duchy describesThe Oval as its historical asset.

The Oval has been leased Surrey county cricket club since 1874. The Duchy has been involved with works of refurbishment ever since its inception.

In addition to The Oval, the Duchy also owns unusual holdings like Dartmoor prison, a garden centre at Lostwithiel in Cornwall anda third of the Dartmoor national park.

The Duchy was a source of income for King Charles III for over half a century. The Duchy covers a massive expanse of land, which is spread across a whopping52,000 hectares (128,000 acres).

Ownership of the Duchy has effectively made Prince William one of the biggest landowners in England. The Duchy of Cornwall has ownership of land across20 counties inWales and England.

At the end of March, the value of the Duchy's net assets were valued at more than£1bn, with a majority of them being investment property assets.