Prince Andrew has been granted “sweetheart” property deals with the Crown Estate which have made him millions of pounds and secured a rent-free royal residence for his two daughters.
A Sunday Times investigation has found the Crown Estate has been privately offering the royals bargain deals at taxpayers’ expense. The statutory body manages land and property owned by the crown but has an obligation to protect the interests of taxpayers.
The bargains on the royal portfolio include: The sale of the Crown Estate freehold of Andrew’s former marital home, Sunninghill Park, for £12,265 in August 2003. The property was subsequently sold by Andrew for £15m and now lies abandoned. A 75-year lease on Royal Lodge, the Queen Mother’s former home in Windsor Great Park, for £1m. Princesses Beatrice and Eugenie can inherit the lease on the 30-room mansion and live there rent-free until 2078. A 150-year lease for Prince Edward on Bagshot Park for £5m. Property agents say the imposing mansion would have fetched up to £30m on the open market.
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