Founded as the College of Bonhommes, an order of Augustinian canons, in 1283, Ashridge is again a College today, housing the world-renowned Management College. After the monastic period, Henry VIII used Ashridge as an occasional residence for his children. The property passed to Princess Elizabeth and during Mary's reign was the scene of great drama. After its period as a royal residence the Earls and Dukes of Bridgewater lived here. After more than three centuries as a home, the estate was sold and became an educational establishment.