The Prince and Princess of Wales are paying £307,500 a year to rent their family home of Forest Lodge in Windsor. Official documents registered this week show that William and Kate are now the official leaseholders of the Grade II listed mansion, after signing a 20-year agreement for the property last July, according to The Times.
Rental Increase and Previous Tenants
The figure disclosed marks an increase of almost £100,000 compared with the rent previously paid by the former tenants of the property. Although the lease was agreed last year, the exact rental value had not previously been made public. It has now been disclosed as part of Land Registry filings, which confirm the couple as the official proprietors of the lease on Forest Lodge in Windsor Great Park.
The agreement covers not only the main mansion but also two cottages within the grounds, which are understood to be used for staff accommodation. The property was previously let for £216,000 per year to Alexander Fitzgibbons, chairman of the event company Fait Accompli. His firm organised the wedding receptions for both the Prince and Princess of Wales in 2011 and the Duke and Duchess of Sussex in 2018.
Valuation and Lease Terms
Fitzgibbons and Swedish businesswoman Cristina Stenbeck signed a joint tenancy agreement in 2019, before the property was later re-let to the Waleses after rental values increased by nearly 50 per cent. The new annual rent is understood to have been determined following three separate valuations carried out by estate agents Hamptons and Savills acting for the Crown Estate, and Knight Frank acting for the Prince and Princess of Wales.
The Waleses have previously described Forest Lodge as their 'forever home', and are understood to be planning to extend the lease when it expires. Prince William's rent is paid from his private post-tax income, which he receives from the Duchy of Cornwall estate. While Kensington Palace has previously said the Prince pays the highest rate of tax on this income, the exact figure is not publicly disclosed. A recent investigation by The Sunday Times estimated his annual income to be between £5 million and £7 million.
Security and Property History
The newly released Land Registry documents include only one redaction, which relates to security arrangements for the property. Forest Lodge was formerly a 'grace and favour' residence, but was returned to the Crown Estate by Queen Elizabeth in the early 1990s. Since then, it has been let on the open market under commercial terms.
In addition to Forest Lodge, the Prince and Princess of Wales also maintain residences at Kensington Palace in London, their official royal residence, and Anmer Hall in Norfolk, a country home on the Sandringham Estate, which was a wedding gift from the late Queen.
Scrutiny of Royal Property Arrangements
The disclosure comes amid heightened scrutiny of royal property arrangements and the Crown Estate's leasing practices. In December, the House of Commons Public Accounts Committee announced an inquiry into the Crown Estate, which manages a £15 billion property portfolio and returns its profits to the Treasury. Evidence sessions for the inquiry, titled The Crown Estate - Property Leases with the Royal Family, are expected to take place in the coming months.
Committee chairman Sir Geoffrey Clifton-Brown said increased scrutiny over royal property arrangements would 'aid transparency in public-interest information'. The Crown Estate did not respond to a request for comment regarding the lease. However, its chief executive, Dan Labbad, previously told MPs that: 'Following an approach from HRH The Prince of Wales and discussions with the Royal Household, the commissioners were asked to consider entering into a lease of the property to TRH The Prince and Princess of Wales for use as their primary private residence'. He added that 'negotiations were conducted on an arm's length basis, to ensure appropriate market terms were agreed'.
The latest disclosure comes amid wider debate over transparency in royal finances, particularly around Crown Estate property deals involving senior members of the Royal Family. Daily Mail has approached Kensington Palace for comment.
