image caption The Duchy of Cornwall owns large parts of the Isles of Scilly and leases the land A community whose freehold land is owned by the Prince of Wales has complained about huge rent increases and an inability to buy their own land. The Duchy of Cornwall, which last year made £21m profit, owns and leases land on the Isles of Scilly. In recent years, some leaseholders have seen annual rent put up from less than £100 to over £7, 000 by what one former MP called a "money-making machine". The Duchy said it set its fees following a "statutory formula". It said it did not sell freehold land to protect the islands' "unique character". Leasehold is a method of ownership in which someone owns a property for a fixed amount of time, but not the ground on which it stands, on which they are normally charged a nominal rental fee. 'Feudal and unjust' Alan and Glenda Davis bought the 99-year lease for their property near the Garrison in St Mary's in 1984, with 75 years left to run. However, when they asked about purchasing the freehold on the land from the Duchy, they said they were "shocked" to find out they did not have the option.
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