Andrew sublet three cottages while paying ‘peppercorn rent’ to crown estate
Report into royal property affairs reveals disgraced ex-prince generated private income from Windsor Royal Lodge
TL;DR
- Prince Andrew sublet three cottages on his Windsor Royal Lodge estate while paying a "peppercorn rent" to the crown estate.
- King Charles pays an "adjusted" rent below market value for royal palaces occupied by Princesses Beatrice and Eugenie.
- The Prince and Princess of Wales's Forest Lodge underwent £400,000 in repairs before they moved in, paying an annual rent of £307,200.
- Rent and lease arrangements for royals differ based on property management (crown estate vs. royal household) and the reason for accommodation.
- Properties managed by the royal household typically have an "adjusted rent" at 60% of market value due to security requirements.
- Prince Andrew paid a £1m premium and £7.5m on refurbishment for Royal Lodge under a 75-year lease.
- The Duke and Duchess of Edinburgh paid a £5m premium for Bagshot Park and also generated income by renting out the stable block.
- Seven members of the royal family lease five properties from the crown estate, with terms agreed at open market value at different times.
- Eleven working royals receive residences within occupied royal palaces at no cost in exchange for official duties.