A report by the National Audit Office has revealed that Andrew Mountbatten-Windsor generated undisclosed private income by subletting three cottages on his Royal Lodge estate in Windsor. According to a lease signed in 2003, the property consists of a 30-room mansion and eight cottages. For over two decades, he paid only a nominal fee known as a peppercorn rent to the crown estate while pocketing the proceeds from the sublet properties.
The review also brought to light other royal property arrangements. It was found that King Charles pays an adjusted rent from his private Duchy of Lancaster income, which is below open market value, for his non-working daughters, Princess Beatrice and Princess Eugenie, to live in royal palaces. Additionally, the report noted that the Duke and Duchess of Edinburgh also benefited from subletting their crown estate property.
These revelations have led to calls for radical reform and a public inquiry into all royal finances. Margaret Hodge, a former chair of the public accounts committee, stated she was very concerned and shocked that the watchdog was unable to establish exactly how much money the former prince made from the rental properties. The National Audit Office confirmed that while the income went to the former Duke of York, the specific rent charged to the subtenants remains unknown.