Prince Edward and his wife, Duchess Sophie, have received criticism this week after it was reported they have been making up to £130,000 a year sub-letting converted stables on their £30million estate.
The Duke and Duchess of Edinburgh, who live at Bagshot Park in Surrey – a Crown Estate property where they pay only a peppercorn rent – have reportedly been letting out the stables on the estate, as well as an office block. The money from this has been going to the couple rather than taxpayers, it has been reported.
While the stables have generated a hefty profit, a separate building from the main house, which has previously been advertised as office space, also brings in money for the couple when it has tenants.
The Sun reports that the stables are currently being refurbished to return to the market this summer.
The revelations that the duke and duchess may be benefiting financially from leasing these parts of the estate has led to outrage, including in Lib Dem former Home Affairs minister Norman Baker, who said last night: “Any money raised from those stables should only be going to one place — the Crown Estate.
“Crown Estate profits go directly to the Treasury, so it is the taxpayer who is losing out here.”
He continued: “It provides a very stable income, and on top of paying virtually nothing for Bagshot Park, they are raking in a whole lot more money from other sources.
“It’s an outrage they pay a peppercorn rent as it is and now Edward and Sophie are free to rake in £130,000 for a stable block as part of the deal. It is outrageous.”
A royal source said: ‘‘The property in question is not rented to any tenant and it is not on the market.”
The stables are believed to have had no tenant since October.
Buckingham Palace have been contacted for comment.
‘ The preceding article may include information circulated by third parties ’
‘ Some details of this article were extracted from the following source www.express.co.uk ’
