Andrew sublet three cottages while paying ‘peppercorn rent’ to crown estate
Summary
Andrew Mountbatten-Windsor earned private income by subletting three cottages on his Windsor estate while paying a very low rent to the Crown Estate. A National Audit Office report also revealed that King Charles pays below market rent for properties where his non-working daughters live, and that the Prince and Princess of Wales lease a Windsor home with an annual rent reviewed every five years.Key Facts
- Andrew Mountbatten-Windsor paid a "peppercorn rent" (very low rent) for Royal Lodge on the Windsor estate.
- He sublet three cottages on this estate and earned private income, but exact amounts and agreements were not made public.
- King Charles pays "adjusted" rent, below market value, for properties where Princesses Beatrice and Eugenie live.
- Princess Beatrice’s rent is about 60-68% of market value; Princess Eugenie’s rent ranges from 50% to 64% depending on year.
- The Prince and Princess of Wales took a 20-year lease on Forest Lodge in Windsor, paying £307,200 rent a year, with no upfront cost.
- Repairs costing £400,000 were made by the Crown Estate on the Forest Lodge before William and Catherine moved in.
- The National Audit Office report will inform a parliamentary inquiry after public concern about the low rents paid by Andrew.
- Public money from the sovereign grant funds maintenance of royal palaces, but adjusted rents may cover some costs associated with princesses’ residences.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.