The public accounts committee has announced an inquiry into the Crown Estate and its leases on properties to members of the royal family, following scrutiny over the lease of Royal Lodge to Prince Andrew. The committee chair, Geoffrey Clifton-Brown, stated that responses from the Crown Estate and Treasury provided sufficient basis for an investigation, which will take place in the new year.
The Crown Estate confirmed that Prince Andrew is unlikely to receive compensation for ending his 75-year Royal Lodge lease early, due to required repairs on the 30-room mansion in Windsor Great Park. He paid a £1m premium and £7.5m upfront for refurbishment in 2003, with a peppercorn rent. The estate noted that dilapidations will likely offset any compensation.
Details were also revealed about Forest Lodge, the new home of the Prince and Princess of Wales. They hold a 20-year non-assignable lease and pay open market rent, negotiated at arm's length. The inquiry will examine value for money to taxpayers, covering other homes like Bagshot Park and Thatched House Lodge.
The committee will consider witnesses, potentially including Prince Andrew, though no modern precedent exists for a royal appearing in person. The Crown Estate, an independent commercial business, stated that the lease terms were independently reviewed as fair and market-aligned. Prince Andrew will move to a private property on the King's Sandringham estate.
