A longstanding property arrangement for a senior member of the royal family has ignited a fresh debate over the financial terms of Crown Estate leases. It has been revealed that Princess Alexandra, a cousin of the late Queen, pays an annual rent of approximately £2,200 for her official residence, Thatched House Lodge, in London’s Richmond Park.
The 89-year-old princess has occupied the Grade II-listed property since 1963. Details of the lease, recently disclosed to a parliamentary committee, show the current rent equates to roughly $250 per month. This figure has prompted immediate comparisons to other high-profile, low-cost rental agreements for royals, raising questions about whether the public is receiving fair value.
The Crown Estate, which manages a vast portfolio of property on behalf of the monarch, surrenders its profits to the government treasury. In return, the monarchy receives a sovereign grant to fund official duties. The revelation about Princess Alexandra’s terms follows previous controversies surrounding the rental costs for residences used by other members of the royal family.
In response to the disclosure, British lawmakers have initiated an inquiry. A source close to the parliamentary examination suggested the arrangement appears to fall significantly short of open market rates for a property of its caliber and location. “There is a clear perception that a valuable public asset is being occupied on exceptionally favorable terms,” the source stated, noting the sensitivity of such arrangements during a time of widespread scrutiny over public spending.
While the princess paid substantial upfront premiums for her long-term leases in the 1970s and 1990s, critics argue the ongoing annual rent is nominal. They contend that the effective cost bears little relation to the property’s current market value, inviting accusations that commercial rigor may have been secondary to customary deference.
The leases are also reported to contain provisions that could allow them to be sold on, subject to approval, a detail that has further intensified the debate over their structure.
Princess Alexandra, 58th in line to the throne, has maintained a low public profile and is recognized for decades of charitable patronage. However, the financial specifics of her housing have now placed her at the center of a discussion on transparency and value within the Crown Estate’s management.
The parliamentary committee is expected to press estate officials on whether such lease agreements genuinely represent the best possible return for the public. The outcome of this scrutiny is likely to influence the ongoing public conversation about the monarchy’s financial relationship with the nation.