The Duke of Edinburgh, Prince Edward, has been paying a nominal peppercorn rent for his substantial Surrey mansion since 2007, in an arrangement strikingly similar to that previously granted to his brother, Prince Andrew.
The Bagshot Park Agreement
Prince Edward initially leased the impressive 120-room Bagshot Park property in March 1998 with his wife, the Duchess of Edinburgh. The original five-decade lease required an annual payment of £50,000, though this increased to £90,000 per year after the Duke invested £1.36 million in renovations, with the Crown Estate contributing an additional £3 million for refurbishments.
In 2007, a significant change occurred when Edward's lease was extended through an agreement with his company, Eclipse Nominees Limited. He paid £5 million upfront for a 150-year lease, which was reportedly 'market tested' at the time, but now requires only a peppercorn rent according to The Times.
The newspaper further revealed that there are no restrictions on any future sale of the Prince's lease, with the sole condition that any new tenant must demonstrate the financial capacity to maintain the substantial property.
Parallels with Prince Andrew's Arrangement
This arrangement bears remarkable similarity to the deal secured by Edward's brother, Andrew, who paid £1 million in 2003 for a 75-year lease on the Windsor Royal Lodge. Since that initial payment, Andrew has been required to pay just 'one peppercorn' in annual rent, 'if demanded'.
However, Andrew's lease contained more restrictive conditions, limiting its transfer to his wife, Sarah Ferguson, or his daughters, Princess Beatrice and Princess Eugenie. These terms contrast with the more flexible conditions governing Edward's Bagshot Park lease.
Andrew's Impending Relocation
The revelations about Edward's rental arrangement emerge as Prince Andrew faces removal from his Royal Lodge residence following the stripping of his royal titles last month due to his connections with the late convicted paedophile Jeffrey Epstein. Andrew has consistently denied all allegations against him.
Sources have confirmed to the Daily Mail that Andrew's move from the Grade II-listed Royal Lodge will not occur before Christmas but is scheduled for sometime in 2026. The practicalities of relocating from the ten-bedroom Windsor Estate property, which has been his home for over thirty years, present substantial logistical challenges.
Additionally, Andrew must negotiate the early termination of his 75-year lease with the Crown Estate, a process that some fear could entitle him to compensation for improvements he has made to the property.
The relocation will see Andrew move to a property on the Sandringham estate, chosen specifically because as the sovereign's personal estate, the living arrangements can be managed and funded completely privately.
Royal Title Changes and Family Dynamics
Buckingham Palace announced on October 17 that Andrew would cease using his remaining titles and honours and would no longer be recognised as the Duke of York. By November 7, King Charles had formally removed Andrew's prince title and HRH style.
The royal website has been updated to reflect these changes, with Andrew's profile page removed and his entry in the line of succession now appearing as 'Andrew Mountbatten-Windsor'.
The timing of Andrew's relocation means he will be absent from the Royal Family's traditional Christmas Eve gathering in Norfolk, avoiding potential awkwardness during the festive period when his presence would clearly be unwelcome.
A source confirmed: 'He won't be anywhere near the Big House', referring to the monarch's Sandringham residence, adding that any physical proximity to his family during the special occasion would make his exclusion 'seem even more barbed'.
