The Prince and Princess of Wales are settling into their new home — and they’re reportedly there to stay, even after William becomes king

Prince William, Prince of Wales and Catherine, Princess of Wales during a visit to Ardura Community Forest on April 30, 2025 in Ardura, Isle of Mull, Scotland. The Prince and Princess of Wales are on a two-day visit to the Isles of Mull and Iona on the 29th and 30th of April to engage with rural island communities. During their time on the islands, they will connect with local residents, highlighting the value of social bonds and underscoring the importance of safeguarding and advocating for the natural environment.; Forest Lodge, formerly known as Holly Grove, Windsor Great Park, Berkshire, 2018. Artist Historic England Staff Photographer. Left) Prince William and Kate Middleton in Ardura, Isle of Mull, Scotland on April 30, 2025; (Right) Forest Lodge in Windsor Great Park in 2018.Credit : Ian Vogler – WPA Pool/Getty; English Heritage/Heritage Images/Getty

A key detail about Kate Middleton and Prince William’s new lease at Forest Lodge has been revealed.

On Dec. 2, the Public Accounts Committee (PAC) of the House of Commons published new details about the former Prince Andrew’s lease at Royal Lodge, his longtime home in Windsor that he has agreed to move out of after King Charles stripped his princely title in October.

Among the documents was a briefing prepared for PAC about The Crown Estate’s current administration of leases on residences occupied by members of the royal family, which included new information about the Prince and Princess of Wales’ lease of Forest Lodge on the Windsor Estate.

It’s thought that the family plans to continue living there even after William becomes king one day, and the new briefing revealed that William and Kate have a 20-year lease of Forest Lodge.

Forest Lodge, formerly known as Holly Grove, Windsor Great Park, Berkshire, 2018. Artist Historic England Staff Photographer

Forest Lodge in Windsor Great Park.English Heritage/Heritage Images/Getty

“Their Royal Highnesses The Prince and Princess of Wales hold a 20-year non-assignable lease with The Crown Estate for Forest Lodge, commencing 5 July 2025,” it states.

“Previously a ‘grace and favour’ residence, it was returned to The Crown Estate by HM Queen Elizabeth II in the early 1990s and has since been let on the open market,” it continues.

“Following an approach from HRH The Prince of Wales and discussions with the Royal Household, the Commissioners were asked to consider entering into a lease of the Property to TRH The Prince and Princess of Wales for use as their primary private residence,” it says.

Park around Forest Lodge, Windsor Great Park, Berkshire, 2018.

Park around Forest Lodge in Windsor Great Park.English Heritage/Heritage Images/Getty

From there, the Crown Estate made arrangements to negotiate terms, conduct due diligence, seek independent valuation advice and ensure all standards were met before entering contracts

“Negotiations were conducted on an arm’s length basis, to ensure appropriate market terms were agreed. Two independent valuers (Hamptons and Savills) were appointed by The Crown Estate to provide valuations of the Property and to review the final Heads of Terms,” it said.

The briefing detailed that both the Prince and Princess of Wales and the Crown Estate received independent legal advice as things became finalized, and that the lease for Forest Lodge was established at “open market rent.”

Prince William and Princess Kate, both 43, reportedly moved into Forest Lodge with their children, Prince George, 12, Princess Charlotte, 10, and Prince Louis, 7, in late October, settling in ahead of schedule. The family’s relocation plans were first announced in August, with initial plans to move before Christmas, but the team behind the scenes moved them from Adelaide Cottage to Forest Lodge before Bonfire Night on Nov. 5.

PEOPLE understands that the eight-bedroom Georgian mansion in Windsor Great Park is the family’s forever home and where they will continue to live even after William becomes king one day.

The Prince and Princess of Wales paid for some minor renovations and their move privately, and they will pay market rent at Forest Lodge. The royal couple also threw a party at a local pub to thank builders and staff who made their move happen ahead of schedule.

Prince William, Prince of Wales and Catherine, Princess of Wales depart the Royal Variety Performance

Prince William and Kate Middleton depart the Royal Variety Performance at Royal Albert Hall on Nov. 19, 2025.Samir Hussein/WireImage

The news comes as the former Prince Andrew, 65, and Sarah Ferguson, 66, prepare to leave Royal Lodge in Windsor as they have been given a move-out date of Jan. 31. Their long-term residence had come under increasing scrutiny, especially amid reports they had not paid rent in more than two decades.

A close source tells PEOPLE that Ferguson is looking for a place in Windsor to move, while Andrew is relocating to a property on King Charles’ Sandringham estate in Norfolk.