Prince Andrew’s Financial Dealings and Royal Housing Arrangements Revealed in Audit

According to a report by the U.K. public spending watchdog, Prince Andrew formerly made money by subletting three cottages on the Royal Lodge estate. The estate, where he lived rent-free for two decades, was a focus of the National Audit Office’s examination of royal properties. The investigation revealed Andrew had income from renting cottages on this estate, which is located near Windsor Castle.

The lease agreement for Royal Lodge signed in 2003 granted Andrew the property with a nominal ‘peppercorn rent’. This arrangement included a 30-room mansion and eight cottages, three of which he was allowed to sublet. However, the report did not specify the amount of income generated, leading to concerns from Margaret Hodge, a Labour member of the House of Lords. She expressed surprise at the absence of details regarding Andrew’s earnings from the sublet properties.

Following revelations about his association with Jeffrey Epstein, Andrew was stripped of his royal titles and eviction from Royal Lodge ensued. Subsequently, he relocated to King Charles III’s Sandringham Estate. In February, the former prince was arrested and questioned over allegations of misconduct in public office, although he has not been charged and consistently denied any wrongdoing.

The report also addressed the housing arrangements for other members of the royal family. It noted that 11 royals receive free housing within palaces in exchange for their official duties. This group includes King Charles III, Queen Camilla, Prince William, Catherine, Prince Edward, and Sophie. William and Kate have an additional family home near Windsor for which they pay £307,200 annually.

Princess Eugenie and Princess Beatrice benefit from rent-controlled housing within palace properties, financed by King Charles III’s private funds. Beatrice’s apartment and Eugenie’s cottage have rental values set at a percentage of market rates ranging from 50% to 68%.

Buckingham Palace stated the audit report aligned with the household’s transparency goals and aimed to clarify royal housing aspects.

Critics argue the audit findings showcase that the royal family does not adequately contribute financially. Norman Baker, a former Liberal Democrat lawmaker, highlighted the issue of Andrew’s advantageous rental terms and potential subletting profits as evidence of fiscal irresponsibility.

Andrew’s connections to Epstein emerged through numerous documents released by the U.S. Department of Justice. These papers illustrated Epstein’s influence through wealthy networks. British authorities are examining claims Andrew passed confidential trade information to Epstein during his tenure as the U.K. trade envoy. Investigators may widen their probe to include allegations of sexual misconduct.

Since relocating to Sandringham, Andrew has seldom appeared in public. Recently, he was seen with a facial bruise, which The Times attributed to a minor medical issue.