William and Kate are said to be shelling out a significant sum to lease their permanent residence in Windsor. Recently revealed documents indicate that the Duke and Duchess of Cambridge officially hold the lease for the Forest Lodge mansion under a 20-year agreement signed in July of the previous year. The rent has seen a nearly £100,000 increase compared to what previous tenants paid for the property.
Although the lease was finalized the year before, the exact value had not been publicly disclosed until now. Land Registry filings have confirmed the royal couple as the leaseholders for the lodge located in Windsor Great Park.
The lease encompasses the lodge itself and two cottages on the property that were previously used as staff quarters, as reported by The Times. Prior to William and Kate taking over, the property was rented out for £216,000 annually to Alexander Fitzgibbons, the chairman of the Fait Accompli event company.
Describing the lodge as their “forever home,” the Cambridges are reportedly considering extending the lease once it expires. Prince William covers the rent using his private income received from the Duchy of Cornwall.
According to Kensington Palace, William pays the highest tax rate on his private income, with exact figures remaining undisclosed. Forest Lodge was returned to the Crown Estate by Queen Elizabeth II in the 1990s and has been available for rent since then. Apart from their Windsor residence, William and Kate also maintain homes at Kensington Palace, their official residence, and Anmer Hall in Norfolk, a wedding gift from Queen Elizabeth located on the Sandringham Estate.
The public disclosure of this lease agreement coincides with increased scrutiny on property security arrangements and leasing practices by the Crown Estate. Dan Labbad, the Chief Executive of the Crown Estate, informed MPs that the decision to lease the property to the Duke and Duchess of Cambridge was made following discussions with the Royal Household and HRH The Prince of Wales. Labbad stated that negotiations were conducted at arm’s length to ensure fair market terms, amid ongoing debates regarding transparency in royal finances related to Crown Estate property dealings involving senior members of the Royal Family.
