Clarence House, previously the residence of Queen Elizabeth The Queen Mother, is Charles's official London residence. His primary source of income is generated from the Duchy of Cornwall, which owns 133,658 acres of land (around 54,090 hectares), including farming, residential, and commercial properties, as well as an investment portfolio. Highgrove House in Gloucestershire is owned by the Duchy of Cornwall, having been purchased for his use in 1980, and which Prince Charles rents for £336,000 per annum. The Public Accounts Committee published its 25th report into the Duchy of Cornwall accounts in November 2013 noting that the duchy performed well in 2012–13, increasing its total income and producing an overall surplus of £19.1 million.