London : A government review of royal property arrangements has revealed that members of Britain's royal family benefited from special rental agreements, including reduced rents and long-term leases on Crown Estate and royal household properties. Th
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London : A government review of royal property arrangements has revealed that members of Britain's royal family benefited from special rental agreements, including reduced rents and long-term leases on Crown Estate and royal household properties.
The report found that Andrew Mountbatten-Windsor received income from subletting cottages on the Royal Lodge estate in Windsor while paying a nominal, or “peppercorn,” rent under a long-term lease. The arrangement has renewed scrutiny over royal property privileges.
The review also showed that King Charles III pays below-market “adjusted” rents for the residences of his nieces, Princess Beatrice and Princess Eugenie, who live in royal properties managed by the royal household.
Meanwhile, William, Prince of Wales and Catherine, Princess of Wales moved into a Windsor home after significant repairs were carried out before the family took up a long-term lease and began paying annual rent.
The report concluded that lease agreements were generally made in line with professional advice and property valuations, though terms varied depending on the property's purpose, location and security requirements.
The findings are expected to be examined by lawmakers as part of a wider review into the management and use of royal properties.
Pic Credit: AFP
