Prince Andrew’s situation with King Charles over Royal Lodge has finally been explained by a property expert who thinks he knows what the future holds.
For those unfamiliar, Royal Lodge is a 30-bedroom property, rented by the former Duke of York for £1 million in 2003. More than £7.5 million on renovations was also spent separately.
Due to the nature of the “cast iron” lease, any early termination or decision by the Crown Estate to remove Prince Andrew from the property will net him £557,595 in compensation, until 2028.
The real estate expert in question is We Buy Any Home CEO Elliot Castle.
He spoke to Express United Kingdom during his explanation and said: “From a property law perspective, Prince Andrew’s situation at Royal Lodge appears to be governed by a long-term tenancy agreement rather than a traditional tenancy agreement. If, as stated, the terms of the lease were fixed in 2003 with a significant upfront payment and renovation investment, then he would retain security of tenure under those agreed terms.”
Furthermore, “the reference to a “grain rent” is symbolic – a common feature in long-term leases where the tenant has paid a significant premium up front.
Additionally, for those who are not in the know, in layman’s terms this means that “the occupier has effectively purchased long-term rights to the property, even though the freehold remains with the Crown”.
Thus, “whether King Charles could modify or terminate this agreement would depend entirely on the legal structure of the lease.”
Regarding the control that King Charles has over this decision, the source said: “Unless there is a specific clause allowing termination under certain conditions, it would be very difficult to remove a tenant without agreement or compensation, regardless of personal circumstances. »
Ditto for Sarah Ferguson Elliot said: “her residence would likely be linked to Prince Andrew’s leasehold rights rather than any separate property. If the lease continued, her position would generally remain unchanged.”
However, “overall, while the situation attracts public attention due to its royal connections, the underlying ownership principles are fairly standard: a long lease provides security, but ultimate ownership and control rests with the freeholder, in this case the Crown,” he said before signing.
