Media scrutiny of the Duchy of Cornwall has ramped up in recent days particularly in respect of its plans for farm sales. In light of that, TFA members and others will be interested to understand how the TFA has been engaging with the Duchy of Cornwall on behalf of its tenant farmer members.
The TFA has consistently expressed its disappointment that the Duchy of Cornwall is selling tenanted farms. The Duchy has traditionally been regarded as a good, dependable and long-term landlord, and many of its tenants reasonably expected that relationship to continue.
For affected families, the news that their holding is to be sold is a huge deal. Their holdings are their homes, businesses and livelihoods. The prospect of having to buy a farm they expected to continue renting—or face an uncertain alternative—creates an enormous financial and emotional burden.
Since the sales programme came into the public domain in March, the TFA has been working directly with the Duchy to secure fair treatment for tenants. We have challenged weaknesses in the process, pressed for clearer and faster communication, and helped establish a more credible approach to valuations and purchase negotiations.
There has been progress, but much remains to be done. Our priority is to ensure that every affected tenant receives clear information, a fair valuation, proper recognition of their investment and security of tenure, and realistic options based on their individual circumstances.
Why is the Duchy selling farms?
We understand the disposals to form part of a broader strategy led by the Duke of Cornwall who wants the Duchy to become what he has described as an “impact organisation”, raising approximately £500 million to support social housing, social-regeneration projects and other initiatives. The Duchy also intends to rationalise its estate so that it can operate more effectively across the land it retains.
The sales programme started in Bradninch in Devon and has recently extended to the Duloe Estate in Cornwall, Herefordshire and among individual holdings elsewhere. However, the Duchy is not withdrawing from agricultural letting altogether. It will remain a significant owner and landlord of farmland, albeit across a rationalised estate.
The TFA first became aware about a year ago that the Duchy was considering disposals, although we did not then know which parts of the estate would be affected. The position became public in March when Duchy representatives visited Bradninch tenants and began conversations about proposed sales.
What are tenants facing?
The TFA is not aware that tenants have received formal eviction notices of the kind referred to in some media coverage. Our understanding is that tenants have been told a sale is being considered or is on the cards, and that the Duchy wants to explore whether they can purchase some or all of their holdings.
That distinction does not remove the uncertainty. Many farmers are tenants precisely because they could not afford to buy the land needed to establish or maintain a viable business. Moving from an expected long-term tenancy to ownership is a major financial and psychological leap. It may require substantial borrowing, restructuring the business or selling part of the holding. For some, purchase will remain unaffordable.
The Duchy has assured the TFA that nobody will be made homeless through these changes. The TFA welcomes that commitment, but it does not answer every concern. A family may retain a home while still losing the operational basis of its farm or taking on financial commitments that fundamentally alter the business.
We have described our role as operating in “the world of the second best”. Our preferred outcome would be for the Duchy to continue as a long-term landlord. As sales are proceeding, however, we must help members assess whether ownership is achievable and secure the fairest possible result where it is not.
What has the TFA challenged?
Our principal criticism has been the management of the programme since the first approaches in March. Engagement has been disjointed. Tenants have not always received the regular, clear and decisive communication that a process of this seriousness demands. Seven or eight months after initial conversations, some have felt no further forward.
That delay has intensified the pressure on affected households. Once tenants are told that their long-term relationship with the Duchy may change permanently, the matter is in their minds 24/7. Uncertainty about timing, valuations, affordability and available options has understandably led to anger and frustration.
We have expressed that disappointment directly to the Duchy. In our discussions, we have pressed for a faster, more transparent and more tenant-friendly process, with clearer lines of responsibility and greater consistency between cases.
Securing a fairer valuation process
A major focus of our work has been the valuation of holdings. The TFA raised concerns about some early valuations, including whether tenants’ investment in improvements and fixtures was being properly recognised. In our view, some of the initial work was not satisfactory.
The TFA has argued for a jointly instructed valuation. The Duchy has said that where there is a genuine dispute it may consider that approach. The TFA believes that a jointly appointed valuation by an agreed valuer (although paid for by the Duchy) will allow both sides to be confident in the valuation and provide a common starting point reducing the risk of dispute.
Under this process, the holding should first be valued as a complete property offered on the open market with vacant possession. That headline figure must then be adjusted to reflect the tenant’s position. Three distinct elements should then be recognised.
- Tenant investment: appropriate improvements and fixtures funded or delivered by the tenant without other benefit to the tenant must be assessed and deducted, so tenants are not asked to buy back value they created.
- Security of tenure: the remaining term and value of the tenancy must be reflected in the proposed price.
- A route to ownership: a further negotiated discount may be needed to make the move from tenant to owner practically achievable.
The TFA believes that this framework would provide a fair and reasonable basis for negotiation.
Creating workable purchase options
The Duchy has indicated that it will consider flexible arrangements. One possibility is allowing a tenant to buy the whole holding and sell a portion to provide the gearing needed for finance. The Duchy has described this as giving tenants a “runway” to ownership. The TFA supports genuine flexibility where it gives a tenant a realistic prospect of purchasing
Even with discounts and flexibility, ownership will be too great a stretch for some tenants. We are making clear in our discussions that cases must be considered individually. There must be no assumption that every tenant can or should buy, and fair alternatives must be explored for those who cannot.
How does Monkhall Farm fit into the picture?
Some have questioned how the Duchy can pursue farm sales while developing a new agenda for regenerative agriculture. The TFA does not regard the two as inherently incompatible. The Duchy can sell selected properties to raise capital for social impact projects, while changing how it manages its retained land. It will continue to be a long-term agricultural landlord, although across a smaller and rationalised estate.
Monkhall Farm in Herefordshire will be an important test. The approximately 900-acre farm was previously managed relatively intensively, with potatoes forming a significant part of the rotation. Moving it towards regenerative agriculture will require a substantial transition by the incoming tenant and close cooperation from the Duchy.
The proposed 25-year tenancy provides unusually long security for the sector, which we welcome. However, the quality and flexibility of the agreement will be crucial. The TFA is working with the Duchy on the terms, particularly to ensure that rent reviews reflect the productive and earning capacity of the holding during its regenerative transition and beyond. A tenant should not face a rent structure that assumes conventional output while being required to adopt a different farming system.
The Duchy is using Regenified’s five-stage process, presenting regenerative farming as a continuing journey rather than a fixed destination. As the first major farm on which this ethos is being applied at scale, Monkhall will show whether broad commitments can become a workable landlord-and-tenant relationship, a resilient farm business and a model capable of wider use.
What the TFA is seeking now
Turning back to farm sales, the TFA’s ongoing discussions with the Duchy are focused on turning general assurances into consistent and practical arrangements for every affected farm household and business. We welcome the Duchy’s willingness to engage and take on board lessons from the programme’s early stages. Progress on valuations and flexibility shows that our intervention is making a difference. However, the test is whether those principles are applied promptly, transparently and fairly in each individual case. The TFA will continue to hold the Duchy to account while working constructively to resolve cases.
TFA Members affected by the Duchy’s sales programme are encouraged to stay in close contact with the TFA by calling Head Office on 0118 930 6130, so that we can support them and ensure their circumstances inform our continuing discussions.
This blog was written by George Dunn, TFA Chief Executive on 28 October 2026.
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Additional reading:
TFA News – TFA Remains in Dialogue with Duchy of Cornwall on Its Disposals Policy
Further Resources from the TFA:
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- Browse our Blog archive for the latest news, including farming policy updates
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Media Enquiries
For press and media enquiries about any of these stories, please contact Julia Meadows, TFA Communications and Events Coordinator by calling TFA head office on 0118 930 6130 or 07887 777157.
