£2,000 A Month From Royal Cottages; Andrew Paid No Regular Rent for Royal Lodge
A UK parliamentary report reveals how Andrew Mountbatten-Windsor earned rental income from two cottages at Royal Lodge while benefiting from a rent-free arrangement.
Andrew Mountbatten-Windsor, formerly Prince Andrew, earned just over £2,000 a month by subletting three cottages on the Royal Lodge estate in Windsor, despite paying only a nominal rent for the mansion itself. The details were revealed in a report published by the UK Parliament's Public Accounts Committee (PAC) on November 6, 2026. The report examines the Crown Estate's governance and management, including the financial and leasing arrangements for Royal Lodge, Andrew's former residence.
How much Did Andrew Earn from the Cottages?
According to the parliamentary report, one of the cottages had been sublet to an employee of the Royal Household at below-market rates for most of the tenancy. Andrew subsequently sublet the other two cottages as well. From late 2021, all three cottages were rented out simultaneously for a period of less than a year, generating a combined rental income of just over £2,000 per month before maintenance and general expenses.
The report clarified that the rental income was based on a percentage of the tenants' salaries and was below prevailing market rates. The Crown Estate did not routinely collect or maintain financial records of the income generated through subletting. As a result, the total amount Andrew earned from these arrangements during his more than two decades at Royal Lodge remains unknown.
Why was Andrew Paying almost No Rent?
Andrew held a 75-year lease on Royal Lodge from the Crown Estate, agreed in August 2003. Under the arrangement, he was required to pay a nominal or 'peppercorn' rent rather than regular market-rate rent. The lease was agreed in exchange for a substantial upfront investment by Andrew, including a commitment to spend £7.5 million on renovation work at the property. He also paid an initial premium of £1 million.
The arrangement allowed him to occupy the 30-room mansion without paying conventional rent, while also permitting him to sublet three cottages on the estate and retain the rental income. The lease eventually ended on October 8, 2026, 23 years into its 75-year term. Following an assessment of the property's condition and negotiations, the Crown Estate agreed to a gross settlement of £1.8 million, of which £301,967.66 was payable to Andrew as compensation for the early surrender. This left the Crown Estate with an expected net receipt of approximately £1.498 million.
