UK royals hold extensive property but pay little to no rent, watchdog reveals

A UK spending watchdog has revealed extensive property arrangements within the royal family, showing that some senior royals paid little to no rent for their residences.

The National Audit Office (NAO) report detailed how King Charles' brother, Andrew Mountbatten-Windsor, held leases for 10 properties. Three of these were sublet by the former prince, who kept the rental income. Additionally, King Charles reportedly pays rent for the palace homes of his daughters, Beatrice and Eugenie.

The NAO's analysis, prompted by questions about Mountbatten-Windsor's lease on the Royal Lodge mansion, examined property agreements with both the Royal Household and the Crown Estate. The Crown Estate, a commercial business with profits going to the Treasury, stated its leases with royals align with professional advice and market valuations.

Mountbatten-Windsor's lease for the Royal Lodge, secured in 2003 with a significant upfront payment and renovation commitment, allows him to pay a "peppercorn rent", effectively nothing, for the mansion and its surrounding estate. He also paid £12,922 annually for another property, Sunninghill Park, used by his staff, a lease set to end next year.

The report's findings have fueled criticism of the monarchy's wealth, with the public accounts committee previously announcing an inquiry into the issue. Buckingham Palace stated it hoped the findings would clarify points regarding royal properties.

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We hope that the findings will help correct, clarify or contextualize a number of points regarding royal properties.