Prince Andrew's lease reveals he lived rent-free for two decades
The documents reportedly reveal that Andrew, 65, paid £1 million upfront for the lease
Prince Andrew has found himself at the centre of fresh controversy after reports revealed he hasn’t paid rent on his Royal Lodge home for over two decades.
According to The Times, the leasehold agreement for the 30-bedroom mansion in Windsor Great Park, where Andrew lives with his ex-wife Sarah Ferguson, shows he’s paid only a “peppercorn rent” of £1 per year since 2003, and only “if demanded.”
The documents reportedly reveal that Andrew, 65, paid £1 million upfront for the lease and a further £7.5 million for refurbishments, completed in 2005.
The initial £8.5 million investment effectively secured him the property until 2078, with no significant rent obligations unless he failed to maintain it.
The lease also states that if Andrew is ever forced to vacate Royal Lodge, the Crown Estate must compensate him nearly £558,000, along with annual payments of £185,865 until 2028.
RELATED: Prince Andrew 'resisted' becoming a 'commoner' after title loss, insider claims
