A fresh set of documents has pulled Prince Edward into the spotlight, revealing that the King’s youngest brother has also been enjoying a “peppercorn rent” arrangement on his sprawling Surrey mansion.
According to The Times, Edward has been paying a symbolic rent for his 120-room home, Bagshot Park, which sits on 51 acres of prime Surrey land.
The lease originally began in March 1998 for £5,000 a year, but newly exposed details show the arrangement was later restructured through Edward’s company, Eclipse Nominees Limited.
The outlet reports: “He paid £5 million upfront for a lease of 150 years, but pays only a peppercorn rent.”
Edward lives at the vast estate with his wife Sophie, Duchess of Edinburgh. Their son James, Earl of Wessex, still resides at home, while their daughter Lady Louise is primarily based in Scotland while attending the University of St Andrews.
The revelations arrive months after the scandal surrounding Andrew’s own “peppercorn rent” deal at Royal Lodge.
Bagshot Park itself has a complicated financial history. Though Edward originally agreed to pay £5,000 annually, his rent later jumped to £90,000 after he contributed £1.36 million toward a major renovation.
The Crown Estate funded the remainder of the £3 million refurbishment.
Before Edward signed on, the Ministry of Defence had returned the estate to the Crown Estate in 1996, where it attracted two commercial proposals, both ultimately rejected. Instead, the property was quietly handed to Edward under a long lease.
RELATED: Andrew could earn staggering amount if he 'pulled a Harry' with tell-all memoir