RICHMOND PARK’S ROYAL RESIDENCE FACES FINANCIAL SCRUTINY
Princess Alexandra, a cousin of the late Queen, pays just £2200 a year to rent Thatched House Lodge in the middle of Richmond Park from the Crown Estate, The Times reports today.
The historic Grade 11 main house has six bedrooms and six reception rooms and stands in four acres of stunning grounds with a gardener’s cottage and stables.
The revelation comes during scrutiny of the financial circumstances surrounding Royal residences following news of the so-called ‘peppercorn’ rent paid by the former Duke of York for his mansion home, Royal Lodge in Windsor Great Park.
The details of 88 year old Princess Alexandra’s lease were revealed following questions from the Public Accounts Committee (PAC) about the arrangements for property deals made between the Crown Estate and members of the Royal family.
The Public Accounts Committee has launched an inquiry into the Crown Estate as part of its role to secure value for money for the taxpayer and will consider leases given to members of the Royal family including the Prince and Princess of Wales and The Duke and Duchess of Edinburgh and senior royal officials may well be called to give evidence.
Alexandra, who is 58th in line to the throne, is the daughter of Prince George, Duke of Kent, who died in a non-combat air crash during the Second World War.
Though less active in her older age, Alexandra has been a working royal supporting various charities and causes, including the Alzheimer’s Society, as a royal patron since 1990.
The Times report says: “Alexandra and her family have lived in the house since 1963. According to the letter to the public accounts committee, Thatched House Lodge is owned under a two-part lease, one signed in 1971 and one in 1995.
“For the first part, Alexandra paid £3,000 in 1971 for a 70-year lease, with £410 a year rent from the first 35 years of the lease until 2006, and £700 thereafter.
“For the second part, she paid a £670,000 premium in 1995 for a 150-year lease, then £1,010 a year rent for the first 25 years. It rose to £1,500 a year for the following 25 years, and will eventually go up to £6,000 by the last 25-year period.
“It suggests an annual rent of £2,200, just £183 in monthly terms, a rent for which one would struggle to find a room as a lodger in a shared house.”