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The U.K. National Audit Office released a report on royal property arrangements, finding that Andrew Mountbatten-Windsor received an undisclosed income from subletting three cottages on the Royal Lodge estate whilst only paying peppercorn rent for the 30-room mansion.

The U.K. National Audit Office released a report on royal property arrangements, finding that Andrew Mountbatten-Windsor received an undisclosed income from subletting three cottages on the Royal Lodge estate whilst only paying peppercorn rent for the 30-room mansion.

Mountbatten-Windsor's 2003 lease for Royal Lodge required a £1 million upfront payment and a £7.5 million refurbishment commitment in exchange for the peppercorn rent arrangement. <a target="_blank" rel="noopener noreferrer nofollow" href="https://www.verity.news/story/2025/prince-andrew-agrees-to-leave-royal-lodge-with-conditions">He vacated the property earlier this year and relocated to King Charles's Sandringham estate.</a>

Mountbatten-Windsor's 2003 lease for Royal Lodge required a £1 million upfront payment and a £7.5 million refurbishment commitment in exchange for the peppercorn rent arrangement. He vacated the property earlier this year and relocated to King Charles's Sandringham estate.

The NAO said Mountbatten-Windsor could be entitled to between £301,967 and £488,342 in compensation for surrendering his lease early, though the Crown Estate has indicated he is unlikely to receive any payout once the cost of outstanding repairs is assessed.

The NAO said Mountbatten-Windsor could be entitled to between £301,967 and £488,342 in compensation for surrendering his lease early, though the Crown Estate has indicated he is unlikely to receive any payout once the cost of outstanding repairs is assessed.

The audit also revealed that King Charles pays rent for Princesses Beatrice and Eugenie through the Privy Purse. Beatrice lives in St. James's Palace and Eugenie in Ivy Cottage at Kensington Palace, with rents set at roughly 60% of open market value, though the NAO found this rate had not always been consistently applied.

The audit also revealed that King Charles pays rent for Princesses Beatrice and Eugenie through the Privy Purse. Beatrice lives in St. James's Palace and Eugenie in Ivy Cottage at Kensington Palace, with rents set at roughly 60% of open market value, though the NAO found this rate had not always been consistently applied.

Princess Eugenie's rent was based on a 2018 open market valuation from 2020 to 2021, ranging from 50% to 63% of that value, whilst Princess Beatrice's was based on a 2020 valuation, ranging from 60% to 68%. Both are now set at 64% and 68% respectively of a 2026 valuation.

Princess Eugenie's rent was based on a 2018 open market valuation from 2020 to 2021, ranging from 50% to 63% of that value, whilst Princess Beatrice's was based on a 2020 valuation, ranging from 60% to 68%. Both are now set at 64% and 68% respectively of a 2026 valuation.

The NAO report, the first review of royal residences in 20 years, identified 255 residential properties in the royal portfolio. Its findings will form the basis of a Public Accounts Committee inquiry into whether royal property arrangements represent value for money.

The NAO report, the first review of royal residences in 20 years, identified 255 residential properties in the royal portfolio. Its findings will form the basis of a Public Accounts Committee inquiry into whether royal property arrangements represent value for money.

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The U.K. National Audit Office released a report on royal property arrangements, finding that Andrew Mountbatten-Windsor received an undisclosed income from subletting three cottages on the Royal Lodge estate while paying only a nominal peppercorn rent for the 30-room mansion.

The U.K. National Audit Office released a report on royal property arrangements, finding that Andrew Mountbatten-Windsor received an undisclosed income from subletting three cottages on the Royal Lodge estate while paying only a nominal peppercorn rent for the 30-room mansion.

Mountbatten-Windsor's 2003 lease for Royal Lodge required a £1 million upfront payment and a £7.5 million refurbishment commitment in exchange for the peppercorn rent arrangement. He vacated the property earlier this year and relocated to King Charles's Sandringham estate.

King Charles pays the rent for Princesses Beatrice and Eugenie through the Privy Purse. Beatrice lives in St. James's Palace and Eugenie in Ivy Cottage at Kensington Palace, with rents set at roughly 60% of open market value, though the NAO found this rate had not always been consistently applied.

King Charles pays the rent for Princesses Beatrice and Eugenie through the Privy Purse. Beatrice lives in St. James's Palace and Eugenie in Ivy Cottage at Kensington Palace, with rents set at roughly 60% of open market value, though the NAO found this rate had not always been consistently applied.

Princess Eugenie's rent was based on a 2018 open market valuation from 2020 to 2021, ranging from 50% to 63% of that value, while Princess Beatrice's was based on a 2020 valuation, ranging from 60% to 68%. Both are now set at 64% and 68% respectively of a 2026 valuation.

Princess Eugenie's rent was based on a 2018 open market valuation from 2020 to 2021, ranging from 50% to 63% of that value, while Princess Beatrice's was based on a 2020 valuation, ranging from 60% to 68%. Both are now set at 64% and 68% respectively of a 2026 valuation.

The NAO audit lays bare a sweetheart deal that let Andrew Mountbatten-Windsor pocket rental income from three cottages while paying virtually nothing to live in a 30-room mansion for over 20 years. Rental income went straight into his pocket rather than back to the Crown Estate, and the watchdog couldn't even determine how much he made. Non-working royals Beatrice and Eugenie also get their palace rents covered by King Charles — a system that treats public assets like a private piggy bank.

The NAO audit lays bare a sweetheart deal that let Andrew Mountbatten-Windsor pocket rental income from three cottages while paying virtually nothing to live in a 30-room mansion for over 20 years. Rental income went straight into his pocket rather than back to the Crown Estate, and the watchdog couldn't even determine how much he made. Non-working royals Beatrice and Eugenie also get their palace rents covered by King Charles — a system that treats public assets like a private piggy bank.

The Canary

Republic

The NAO report confirms Andrew's subletting was permitted under his lease and that rental income likely only covered staff maintenance costs — hardly the scandal it's being made out to be. Beatrice and Eugenie's rents are paid from the King's private Privy Purse funds, not taxpayer money, and are set at roughly 60 percent of market value. The Crown Estate confirmed all arrangements followed independent professional advice and open market valuations.

The NAO report confirms Andrew's subletting was permitted under his lease and that rental income likely only covered staff maintenance costs — hardly the scandal it's being made out to be. Beatrice and Eugenie's rents are paid from the King's private Privy Purse funds, not taxpayer money, and are set at roughly 60 percent of market value. The Crown Estate confirmed all arrangements followed independent professional advice and open market valuations.

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The NAO report confirms Andrew's subletting was permitted under his lease and that rental income likely only covered staff maintenance costs — hardly the scandal it's being made out to be. Beatrice and Eugenie's rents are paid from the King's private Privy Purse funds, not taxpayer money, with 60% of market value still a siezeable sum of money. The Crown Estate confirmed all arrangements followed independent professional advice and open market valuations.

The NAO report confirms Andrew's subletting was permitted under his lease and that rental income likely only covered staff maintenance costs — hardly the scandal it's being made out to be. Beatrice and Eugenie's rents are paid from the King's private Privy Purse funds, not taxpayer money, with 60% of market value still a siezeable sum of money. The Crown Estate confirmed all arrangements followed independent professional advice and open market valuations.

The NAO audit lays bare a sweetheart deal that let Andrew Mountbatten-Windsor pocket rental income from three cottages while paying virtually nothing to live in a 30-room mansion for over 20 years. Rental income went straight into his pocket rather than back to the Crown Estate, and the watchdog couldn't even determine how much he made. Non-working royals Beatrice and Eugenie also get their palace rents covered by King Charles, reaffirming a system that treats public assets like a private piggy bank.

The NAO audit lays bare a sweetheart deal that let Andrew Mountbatten-Windsor pocket rental income from three cottages while paying virtually nothing to live in a 30-room mansion for over 20 years. Rental income went straight into his pocket rather than back to the Crown Estate, and the watchdog couldn't even determine how much he made. Non-working royals Beatrice and Eugenie also get their palace rents covered by King Charles, reaffirming a system that treats public assets like a private piggy bank.

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