The Duchess of Edinburgh was all smiles on Saturday during an outing with her husband, Prince Edward, when they attended the Coral Gold Cup Meeting at Newbury Racecourse.
© David Hartley/ShutterstockThe Duchess completed her look with brown chestnut-hued boots. Meanwhile, Prince Edward wore a smart grey suit, with a white shirt and blue tie.
The outing comes after reports of the “peppercorn rent” Prince Edward pays at their family home, Bagshot Park.
© David Hartley/ShutterstockAccording to the Times, “he paid £5 million upfront for a lease of 150 years, but pays only a peppercorn rent.”
Peppercorn rent is a term used to describe a small, nominal rent, such as one peppercorn, to satisfy a legal requirement for a contract to be binding.
© David Hartley/ShutterstockThere are no conditions set on the further sale of Edward’s lease, beyond that the new tenant could afford the property’s maintenance, meaning that Edward could profit from its sale.
Campaigners have since questioned whether Edward, 15th in line to the throne, can justify his occupation of a property that could otherwise be leased by the Crown Estate for taxpayer benefit.
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