Prince Andrew generated more than £2,000 per month by subletting cottages located on the grounds of Royal Lodge, according to the King's accountant. The former prince resided at the Windsor estate without charge while profiting from renting out three additional properties privately.
This revelation comes amid criticism from the government's Public Accounts Committee (PAC) regarding the Royal Family's use of Crown Estate properties. The PAC noted that ten family members, including three described as 'non-working,' occupied properties on the Crown Estate for minimal or no rent.
James Chalmers, treasurer to the King, disclosed the income details following inquiries initiated in July about the three cottages at Royal Lodge. Campaigners have called for Andrew to return the money earned to the Crown Estate. Norman Baker, an expert on royal finances, characterized the arrangement as 'scurrilous' and an indication of 'unashamed greed,' urging the Crown Estate to have prevented such a situation and for Andrew to repay the funds.
Andrew was reportedly evicted from Royal Lodge in February, following scrutiny of his association with Jeffrey Epstein. The PAC subsequently requested Buckingham Palace to provide details on Andrew's earnings from subletting the cottages.
In a letter to Sir Geoffrey Clifton-Brown MP, chairman of the PAC, Mr. Chalmers stated that Andrew's subletting income was not initially known to the Royal Household. He added that inquiries with Andrew had been made, and the information was being shared for transparency. Chalmers revealed that Andrew had not sublet all three cottages simultaneously for most of his tenancy, but this changed in 2021, generating a combined income of just over £2,000 per month before expenses.
Baroness Margaret Hodge, a former chairman of the PAC, expressed shock that these figures were not disclosed earlier, emphasizing the need for transparency in modern royal finances and stating that the Crown Estate's assets are funded by taxpayers.
A broader PAC inquiry into the Crown Estate, prompted by the Royal Lodge issue, found that Royal Family members were paying 'inconsistent rents' based on outdated property valuations. As of May, seven working royals occupied properties rent-free, while three non-working members occupied properties at an adjusted rate, typically 60 percent of market value.
The Crown Estate manages a £14.5 billion portfolio, including 255 residential properties within occupied royal palaces. The PAC has recommended that the Crown Estate review its rental agreements to ensure optimal value for taxpayers. Sir Geoffrey noted that the Crown Estate's profits fund public services and expressed hope that the committee's recommendations would be positively received.