The financial dealings of the Royal Family have long been veiled in secrecy, with some aspects remaining enigmatic. Andrew Mountbatten-Windsor, the King’s disgraced brother, has resided in a lavish 30-room mansion at the Royal Lodge in Windsor for the past twenty years, paying a nominal rent of ‘peppercorn’ after an initial £7.5 million investment for a 75-year lease.
Recently, it was disclosed that Prince Edward, another brother, had a similar arrangement with the Crown Estate, which oversees royal properties straddling the public and private sectors. The Duke of Edinburgh and the Duchess of Edinburgh moved into the sprawling 120-room Bagshot Park in 1998, initially leasing it for five decades at £5,000 annually. Subsequently, the rent escalated to £90,000 per year following a £1.36 million renovation outlay by the Duke, with additional funding of £3 million from the Crown Estate for refurbishments.
These revelations have drawn scrutiny to the Royal Family, whose wealth reaches into the billions. Following Andrew Mountbatten-Windsor’s fall from grace due to his association with the late convicted criminal Jeffrey Epstein, questions have been raised in the House of Commons regarding his opulent lifestyle. The Public Accounts Committee (PAC) has initiated an inquiry into the Crown Estate properties of the Royal Family amid “serious and disturbing” allegations against Andrew.
The PAC has disclosed that the Prince and Princess of Wales have secured a lease for their new residence, the eight-bedroom Forest Lodge on the Windsor estate. This move signals a potential shift towards increased transparency in assessing the value taxpayers receive from such lease agreements.
The Royal Family is supported by the Sovereign Grant, receiving millions annually to cover official expenses, in addition to profits generated by the Crown Estate. The PAC’s actions may herald a new era of accountability, shedding light on the management and allocation of the monarchy’s substantial financial resources.
By Russell Myers, Royal Editor for the Mirror
