Royal Residence for a Token Fee
Newly released documents from the Crown Estate have exposed the remarkably favourable terms under which Prince Edward, the Duke of Edinburgh, occupies a 120-room mansion within Windsor Great Park. The revelation shows the prince pays only a nominal 'peppercorn' rent for the extensive property, a deal that has immediately drawn criticism from campaigners questioning the use of public assets.
The Details of the Deal
According to the papers, a contract signed by his company, Eclipse Nominees Ltd, in 2007 secured a 150-year lease on the Grade II-listed Mansion House in Bagshot Park, Surrey. For this long-term arrangement, Edward paid a substantial upfront fee of £5million. However, the annual rent payable is an undisclosed 'peppercorn' amount, a historical term for a token payment so small it holds merely symbolic value.
The 19th-century mansion, originally built for Queen Victoria's son Prince Arthur, sits on a vast 51-acre estate. Prince Edward first leased the property in March 1998. A report from the National Audit Office (NAO) indicates his initial annual rent was £5,000 per year.
Significant renovations were undertaken on the property, with total costs reaching £2.98million. Of this amount, Prince Edward contributed £1.36million, while the Crown Estate covered the remaining balance. Following these improvements, his rent was adjusted to £90,000 per year, a figure described at the time as representing 'market value' by the NAO.
Before this commercial arrangement was settled, officials had considered granting the property grace and favour status, which would have allowed for free royal occupancy. Buckingham Palace declined this approach, opting instead for a deal that would provide some income to the Crown Estate.
Public Scrutiny and Wider Context
The disclosure has sparked a strong reaction from anti-monarchy groups and political figures. Norman Baker, a former Lib Dem minister and royal author, told The Times: ‘It is obscene not just that Edward and Sophie have been given a 120-room mansion to live in, but even more so that they have to pay a peppercorn rent, less than a struggling couple would pay to rent a poky flat in Romford.’
A spokesman for Republic, a pressure group campaigning to abolish the monarchy, added: ‘Most people have no idea who Edward is or what he does. Why is he getting any state subsidy?’
This is not an isolated case within the royal family. The news follows last month's revelation that Prince Andrew also enjoys a peppercorn rent on his home, Royal Lodge in Windsor.
Property agents have estimated that a long residential lease for the mansion signed in 1998, post-renovation, could have been worth between £2.5million and £8million on the open market. A 2005 NAO report noted that the Crown Estate had conducted a 'discreet marketing campaign focused on selected potential tenants'. This effort yielded only two exploratory offers—one to convert the house into a conference centre and another to use it as a hotel. Both proposals were rejected for not meeting statutory obligations regarding the park's character and land use.
Both The Crown Estate and Buckingham Palace have declined to comment on the matter, leaving the public to scrutinise the details of an arrangement that places a valuable public asset in royal hands for a famously small price.
