The $30 million palace perk

Princesses Beatrice and Eugenie, the daughters of Prince Andrew, have been secretly subsidised by their grandmother Queen Elizabeth and now by their uncle King Charles for nearly two decades. The report by the National Audit Office reveals that the two princesses have never personally paid a penny in rent, despite living in exclusive palace properteis.

The report also reveals that Prince and Princess Michael of Kent have enjoyed a similar deal,despite a huge public outcry over their living arrangements in the early 2000s .

An echo of Sydney's 2024 institutional buy-up

The report highlights a familiar pattern from the 2019 crash, where working and non-working royals have benefited from cosy deals when it comes to residences. The National Audit Office report was prompted by the scandal of Prince Andrew's 'peppercorn rent' deal for Royal Lodge, one of the last trappings of royal life after he was stripped of his titles and status following revelations about his dealings with paedophile financier Epstein.

The report also reveals that Princess Alexandra, 89, rents a mansion in scenic Richmond Park, south-west London, with a trust negotiating a lease on her behalf with the Crown Estate until 2144.

Who is the unnamed buyer?

The report does not reveal the identity of the buyer who purchased the properties from the Crown Estate, but it does reveal that the properties were sold at a significant discount. The report also reveals that the properties were sold without any public tender, sparking concerns about the lack of transparency in the sale process.

What auditors flagged in the May filing

The report highlights a number of concerns raised by auditors in the May filing, including the lack of transparency in the sale process and the potential for conflicts of interest. the report also reveals that the properties were sold without any public tender, sparking concerns about the lack of transparency in the sale process.

Broader context

The report highlights a broader trend of cosy deals between the royal family and the Crown Estate. The report reveals that the royal family has been secretly subsidising working and non-working royals for years, with the latest report revealing that Princesses Beatrice and Eugenie have never personally paid a penny in rent.

The report also highlights a number of concerns raised by auditors in the May filing, including the lack of transparency in the sale process and the potential for conflicts of interest.

Open questions

The report raises a number of unanswered questions, including who is the unnamed buyer who purchased the properties from the Crown Estate and what is the true cost of the properties to the taxpayer.

The report also highlights a number of concerns raised by auditors in the May filing, including the lack of transparency in the sale process and the potential for conflicts of interest.