Royal finances are back in the spotlight, highlighting a stark contrast between Prince Edward and his elder brother Prince Andrew.
While Edward, now the Duke of Edinburgh, has been paying a fair market price for his Surrey mansion, Andrew has long enjoyed a “peppercorn” arrangement at Royal Lodge in Windsor.
Edward moved into Bagshot Park in 1998 and leased it for £50,000 a year initially, which later rose to £90,000.
On top of that, he invested £1.36 million in renovations, while the Crown Estate contributed a further £3 million.
The payments reflect a full market approach to royal property occupancy, unlike Andrew’s arrangement.
Andrew and Fergie’s Separate Lives at Royal Lodge
The former Duke and Duchess of York, Andrew and Sarah Ferguson, have been living separately under the same roof at Royal Lodge since 2008, despite divorcing in 1996.
Sources describe the arrangement as “lucrative” and “mutually advantageous,” allowing them to maintain a high lifestyle amid various scandals.
Recent scrutiny over Andrew’s links to convicted paedophile Jeffrey Epstein has increased pressure on both him and the King.
Reports indicate that Andrew is now willing to leave Royal Lodge—but only if he and Fergie are each offered separate royal residences in return.
Rumor has it Andrew has his eye on Frogmore Cottage, previously occupied by Harry and Meghan, while Fergie reportedly prefers nearby Adelaide Cottage.
Revelations About Epstein and Controversial Guests
The spotlight on Andrew intensified after revelations surfaced that he hosted Jeffrey Epstein, Ghislaine Maxwell, and Harvey Weinstein at Royal Lodge in 2006.
These claims accompany continued fallout, including Fergie being dropped from ITV shows Loose Women and This Morning.
Further reports have exposed emails showing Andrew attempted to use police resources and palace aides to discredit Virginia Giuffre, who accused him of sexual assault.
These messages, obtained by the media, detail his efforts to label her a liar and highlight sensitive personal information about her. Giuffre tragically took her own life earlier this year.
The Civil Settlement and Denials
In 2022, Andrew paid millions to settle a civil sexual assault case brought by Giuffre, while still denying he ever met her.
Other emails have raised questions about his claims of severing ties with Epstein in 2010, revealing continued communication weeks after Epstein’s prison release.
Hidden Lease Details and Public Scrutiny
Andrew’s leasehold agreement for Royal Lodge, signed in 2003, required him to pay £1 million upfront for a 75-year lease.
Since then, his annual rent has been “one peppercorn if demanded,” effectively minimal.
The lease also obligated him to pay £7.5 million for refurbishments, with a clause granting him £558,000 from the Crown Estate if he surrendered the property.
A redacted version of the lease submitted to the Land Registry two decades ago obscured these details, prompting public questions about transparency.
The Public Accounts Committee is now seeking further clarification from the Crown Estate and Treasury regarding the arrangement.
King Charles’ Attempts to Encourage a Move
It is understood that King Charles has long urged Andrew to vacate Royal Lodge, but the 75-year lease has provided him a secure legal position.
Meanwhile, scrutiny continues to mount over Andrew’s financial privileges, residency, and controversial history, placing additional pressure on the royal household to act.