Former Prince Andrew made money subletting cottages on his rent-free estate, report shows

Key points

• The former Prince Andrew made money by subletting three cottages on the estate where he lived rent-free for two decades, according to a report on the royal family's properties released on Friday (June 5, 2026) by the U.K. public spending watchdog.
• It also disclosed that his daughters, Princess Beatrice and Princess Eugenie, live in rent-controlled palace properties paid for by their uncle, King Charles III.
• The Audit Office report said Andrew Mountbatten-Windsor received income from renting out the cottages on the Royal Lodge estate, his home near Windsor Castle for more than 20 years.
• A lease for Royal Lodge signed in 2003 shows he paid only a nominal fee known as a “peppercorn rent” for the property, which included a 30-room mansion and eight cottages, three of which he was allowed to sublet.
• The amount of income was not included in the report, an omission that Margaret Hodge, a Labour...