King Charles relinquishes Welsh property in effort to streamline monarchy.

King Charles has given up the lease on his Welsh cottage, Llwynywermod, which he rented from the Duchy of Cornwall since becoming king. The property was bought in 2007 for £1.2 million as a base for his regular visits to Wales. Charles is returning the keys as he can no longer use it like he used to. Since the Duchy of Cornwall passed to his son William, who is now the Prince of Wales, Charles has personally paid rent on the property. The King's decision to give up the lease comes as he tries to reduce costs of his many residences.