Andrew Mountbatten-Windsor sublet Royal Lodge cottages while paying peppercorn rent

A recent report by a public spending watchdog has revealed that Prince Andrew, also known as Andrew Mountbatten-Windsor, secretly sublet three cottages on the Royal Lodge estate for over two decades. He reportedly received undisclosed rental income from these properties, despite paying only a nominal "peppercorn rent" himself for the extensive estate. This arrangement, which allowed him to profit while holding a highly favorable lease, has drawn criticism regarding transparency and the use of public assets.

The National Audit Office (NAO) investigation, which concluded that the sublet cottages became vacant in April 2026, could not determine the exact amount of income Prince Andrew generated from this scheme. Critics have called the lack of clarity concerning his earnings "shocking," highlighting broader concerns about the financial arrangements of royal properties and accountability for public funds. The findings are now set to form the basis of a Public Accounts Committee inquiry into royal property leases.