Leaked lease shows Prince Andrew hasn’t paid rent at Windsor Castle since 2003, can stay till 2078

Prince Andrew’s ongoing crisis does not seem to end anytime soon. After reports of him being associated with Jeffrey Epstein went out, the problems for him have just started to escalate. In the latest issues regarding his finances, taxpayers in the United Kingdom have raised questions about Prince Andrew’s rent-free life at Windsor Castle, reports ITV.

A copy of the lease agreement for the royal mansion was revealed on Tuesday, leaving people in a frenzy about the cost of living. Reportedly, Prince Andrew has only paid what is described as “peppercorn rent” for his abode. He has been living there for more than the last two decades.

Prince Andrew and Windsor Castle's lease

The Times has shared a copy of the lease between Prince Andrew and the Crown Estate. It reveals that he has paid little to no rent every year for staying in Windsor Castle since 2003. He shares the royal abode, which comes with 30 bedrooms, with his family. Moreover, he is entitled to stay in the royal palace for as long as he wishes till 2078.

What has surprised taxpayers in the UK is the upkeep and maintenance of the house with minimum rent. The Independent published a report previously, which mentioned that Prince Andrew had paid $1.3 million for the lease in 2003. He also spent around $10 million on the house rebuild in 2005.

The Crown Estate will need to pay $756,000 to Prince Andrew if he decides to terminate the lease, reported The Times. Moreover, he will be paid a sum of $250,000 as compensation every year till 2028, making 25 25-year lease agreement. The calculation has raised questions among the people of the UK, who are wondering how the mansion is managed on such a large sum without rent being paid.

Problem grows for Prince Andrew

Prince Andrew recently decided to give up on his honors and titles, reported People. The Buckingham Palace released a statement on Prince Andrew's behalf on October 17. He denied the accusations against him, especially in relation to Jeffrey Epstein. Prince Andrew mentioned that he is giving away his titles to ensure that his family is not distracted from serving the people. The titles will be stripped through an Act of Parliament.

FAQs

1. How long has Prince Andrew lived at Windsor Castle?

He has lived there since 2003, for over 22 years.

2. How much rent does Prince Andrew pay?

He pays a symbolic “peppercorn rent,” effectively living almost rent-free.

3. Is Prince Andrew still entitled to stay there?

Yes, under the lease terms, he can stay until 2078 and receive compensation if it ends.