Prince Edward and Sophie make up to £130,000 a year sub-letting stable block on £30million estate where they pay only peppercorn rent

 

The Duke and Duchess of Edinburgh have provoked ‘outrage’ after it was revealed they made £130,000 per year sub-letting stables on their £30million estate.

Prince Edward and Sophie had advertised the East Wing stables at Bagshot Park, in Surrey, as an office space for £10,834 per month, pocketing £130,008 per year.

However Crown Estate revenues are supposed to be paid to the Treasury, with taxpayers ultimately benefitting from the Royal Family‘s profits.

The stables are located on the pair’s 51-acre estate, around 400 metres from the main house which has 120 rooms.

The advert for the office space, seen by the Daily Mail, describes a ‘Grade II Listed Office Building but with modern finishes, fibre connectivity, set within the landscaped grounds of Bagshot Park’.

‘Bagshot Park is situated off the A30 London Road with the M3 motorway just 3 minutes’ drive away.

‘Located down a prestigious private driveway, The Old Stables is surrounded by spacious green parkland and also benefits from being within walking distance to the train station and Bagshot town centre.’

The property, built in 1890, has two floors and 6,667 sq ft of space.

The Duke and Duchess of Edinburgh had advertised the East Wing stables at Bagshot Park, in Surrey, as an office space for £10,834 per month

The stables (pictured) are located on the pair's 51-acre estate, around 400 metres from the main house which has 120 rooms
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The stables (pictured) are located on the pair’s 51-acre estate, around 400 metres from the main house which has 120 rooms

The property, built in 1890, has two floors and 6,667 sq ft of space
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The property, built in 1890, has two floors and 6,667 sq ft of space

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The brochure said: ‘The East Wing comprises a two-storey self-contained Grade II office building with a mixed configuration of open plan and cellular style office accommodation.

‘The ground floor currently comprises a number of meeting rooms of various useful sizes (from private phone call type 1-2 person, to board room size), a single open plan office area, comms room – full dedicated fibre connectivity, reception, kitchen/break out area, tea points, a number of WCs and showers per floor.

‘The 1st floor similarly provides a mixed configuration, however there are more open plan office areas with two separate meeting rooms, two further individual offices, a tea point and separate WCs that include a shower.

‘Externally there is a garden for the sole use of the occupier, along with car parking for between 25-30 cars (more available by separate licence).’

The Duke and Duchess of Edinburgh have provoked furious backlash over the listing, with one former minister describing it as an ‘outrage’.

Norman Baker, the former Liberal Democrat home affairs minister, told The Sun that any money Prince Edward and Sophie have made by sub-letting the stables should go to taxpayers, who he said are ‘losing out’.

He said: ‘It’s an outrage they pay a peppercorn rent as it is and now Edward and Sophie are free to rake in £130,000 for a stable block as part of the deal. It is outrageous.’

In December last year the Public Accounts Committee announced it would launch an investigation into the Crown Estate and its leases on properties to members of the Royal Family.

The building is described a 'Grade II Listed Office Building but with modern finishes, fibre connectivity, set within the landscaped grounds of Bagshot Park'
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The building is described a ‘Grade II Listed Office Building but with modern finishes, fibre connectivity, set within the landscaped grounds of Bagshot Park’

It came after questions over Andrew Mountbatten-Windsor’s lease of Royal Lodge, which he was slung out of by King Charles last month.

Mr Baker said: ‘The Public Accounts Committee should honour its part of the investigation and take into account leases and see which are unnecessary and unjustified when ordinary people are struggling to pay bills.’

Royal expert and author Margaret Holder said the East Wing stables were ‘a nice little earner’ for the Duke and Duchess of Edinburgh – especially as they are ‘already on a peppercorn rent’.

She added that ‘the system in place’ allows them to make a profit by sub-letting the property, which ‘isn’t Sophie or Edward’s fault’.

A royal source told the Mail: ‘The property in question is not rented to any tenant and it is not on the market.’

It is understood the payment of a ‘peppercorn’, if demanded, by way of ongoing rent is an approach consistent with standard market practice for long-leasehold residential properties where significant capital investment is made or a premium is paid in lieu of a market rent.

It is a token payment to ensure the lease is a legally binding contract, as contracts require consideration to be paid.