The arrangement was put in place when Elizabeth II, their grandmother, was still alive. However, sources noted that all financial matters were kept under review.
Royal Household policy is to charge an adjusted rent of 60 per cent of the open-market value for non-working members of the Royal family.
However, the NAO found that the sisters’ rents had been based on out-of-date valuations for several years. Until this year, Eugenie’s rent was based on a 2018 valuation and Beatrice’s on a 2020 valuation.
Eugenie’s was 50 per cent of the 2018 open-market value from 2020 to 2021, and ranged from 55 per cent in 2022 to 63 per cent in 2025. Beatrice’s rent was 60 per cent of the 2020 market value from 2020 to 2021 and ranged from 62 per cent to 68 per cent from 2022 to 2025, the NAO said.
The sisters’ current rental rates are 64 and 68 per cent of the respective valuations.
The Prince and Princess of Wales
Elsewhere, the NAO revealed that the Crown Estate had spent £400,000 renovating Forest Lodge, including the main house, three cottages and the grounds, before the Prince and Princess of Wales moved in in 2025.
The couple have avoided any controversy surrounding peppercorn rents by paying £307,200 a year for their home.
The report said they signed a “short-term 20-year lease” with quarterly rent payments and no upfront deposit, because they funded internal refurbishment costs themselves. As the Waleses signed a short-term lease, external repair and refurbishment costs fall to the Crown Estate.
The tenancy covers the grade II listed Georgian house, gardens, paddock with 7.4 hectares, a barn and three cottages, one of which is occupied by a member of the couple’s staff for an annual rent of £19,800.
‘ The preceding article may include information circulated by third parties ’
‘ Some details of this article were extracted from the following source www.telegraph.co.uk ’
