The Duchy of Lancaster is, since 1399, the private estate of the British sovereign as Duke of Lancaster. The principle purpose of the estate is to provide a source of independent income to the Sovereign. The estate consists of a portfolio of lands, properties, and assets held in trust for the Sovereign, and is administered separately from the Crown Estate. The duchy consists of of land holdings (including rural estates and farmland), urban developments, historic buildings, and some commercial properties across England and Wales particularly in Cheshire, Staffordshire, Derbyshire, Lincolnshire, Yorkshire, Lancashire and the Savoy Estate in London. The Duchy of Lancaster is one of two royal duchies, the other being the Duchy of Cornwall, which provides income to the Prince of Wales.