British King Charles III is giving up the lease on his £1,2m property in Wales.

The property, near the town of Llandudrie, was bought by the Duchy of Cornwall in 2007 for the then Prince Charles. The three-bedroom, former coach house property sits on the site of a ruined palace and overlooks the 18th-century country park, which encompasses 40 acres of woodland, BBC reports.

Buckingham Palace confirmed that the King had informed the Duchy earlier this year that he planned to give up the lease when the summer was over. This estate served as the home of King Charles and Queen Camilla during their visits to Wales, including during their annual summer tours of the country.

Citing royal sources, The Telegraph reports that the king still feels an attachment to Wales, but has decided to give up the estate because it is "unlikely" he will be able to use it in the same way he did when he was the Prince of Wales.

Before taking the throne, the king was regularly seen walking in the area, and he and the queen were described as "active patrons" in the village.