Revealed: Prince Charles has earned £270m from property deals since 2001

Prince Charles has benefited from a staggering £271million-worth of property deals in order to fund his household over the past seven years.

The Duchy of Cornwall, which provides the heir to the throne with his personal income, bought, sold or renovated dozens of properties resulting in a £43million profit.

The deals range from the £30million sale of a block of shops to a parcel of farmland worth a modest £40,000.

The estate also paid £2million towards the construction of a new stand at the Oval cricket ground, which it already owns.

It was, insiders claim, a project the prince expressed a 'strong personal interest' in. 

In addition, the estate lavished £1.3million in November 2006 on Charles and Camilla's new Welsh hideaway, Llwynywormwood, near Llandovery in Carmarthenshire.

As revealed by the Daily Mail earlier this year, the Duchy has also confirmed paying Camilla's sister, the interior designer Annabel Elliot, more than £300,000 to renovate its holiday cottages on the Scilly Isles.

The main purpose of the Duchy of Cornwall  -  which was created in 1337 by Edward III for his eldest son Prince Edward  -  is to provide an income for the heir to the throne.

It currently funds all of Charles's private spending as well as the majority of his official and charitable activities. The prince also chooses to use it to fund the growing household of his two sons, Princes William and Harry. 

Under the 1337 charter, the Prince of Wales is not entitled to any proceeds or profit on the sale of the Duchy's capital assets, but only to its annual income, on which be currently pays 40 per cent tax. 

He is also not liable for capital gains tax because any money raised from the sales is ploughed back into the estate. 

Although the Duchy is run by its own board, the Treasury must approve all property transactions with a value above £200,000.

The estate  -  which also has a financial investment portfolio  -  consists of around 54,521 hectares of land in 23 counties, mostly in the South-West of England.

The Oval: The Duchy paid £2million for a stand

It includes agricultural, residential and commercial property holdings and is valued at £647million  -  a 6 per cent rise on last year. 

The Prince's income from the Duchy in 2007 was £16.3million or £12.8million after tax.

Details of the individual property deals were released for the first time yesterday by the Treasury under a Freedom of Information request. 

The rise in the estate's value, which is predominantly farmland, has been explained by the huge growth in the value of agricultural land  -  the biggest annual rise for 25 years. 

A Clarence House spokesman said: ' Corporation tax is not paid because it is not a corporation. The Prince of Wales pays 40 per cent income tax on his income from the Duchy.'