Mountbatten-Windsor, now evicted to Marsh Farm on the Sandringham Estate, Norfolk, had a lease that permitted subletting, though it was not known how much he received through this.
He paid a £1m premium and £7.5m on refurbishment of Royal Lodge under the 75-year lease in 2003, and could be entitled to between £301,967.66 and £488,342.21 compensation by surrendering it early, the report said. However, the crown estate has previously said it is likely he will not be owed any compensation once dilapidations are taken into account.
That’s one way a lease can work. It’s the way most National Trust leases work. The building requires repair – or requires a lot of maintenance. So, you agree to pay all those costs and no – or peppercorn – rent. Wholly standard.
Meanwhile, the Prince and Princess of Wales’s Forest Lodge home in Windsor underwent £400,000 repairs carried out by the crown estate before the couple moved in with their three young children last year.
William and Catherine took out a 20-year lease in July on the Grade II-listed Georgian house, with gardens, paddock, a barn and three cottages set within 7.4 hectares, and pay £307,200 rent a year, reviewed every five years, the NAO said. They paid no upfront premium, and are responsible for internal refurbishments and alterations.
Or the landlord pays all the repairs before you move in, you pay no premium, and you pay full market rent while there. It’s possible, obviously, to mix and match these terms in any manner you like too.
Neither of these are odd, strange or even unusual sets of terms. But you can bet that there will be some who bitch about both sets of terms.
Fun, eh?
The BBC has trotted out a Lib Dem spokesman to complain that Charles should not be allowed to pay his nieces’ rent out of *his own personal* funds implying that the taxpayer (rather than Charles himself) is subsidising “non-working” (each of them has a real job) royals.
It’s fortunate for British politicians the the UK meeja is full of people nearly as thick as they are…
WhoGAF?
I couldn’t echo the peerless Rhoda Klapp more
What I will say is:
I think that sums up the Guardian’s ‘messages of the day’
and remember ….acccuracy….
Amounts down to the pence….
Have they corrected for inflation over the rental period? one wonders… they might be a pence or two off….
As a confirmed auti… someone didn’t contain the local auti…
A twenty year lease? Wills and Kate are a bit more optimistic about Chuck’s life expectancy than I am.
His father reached 99, his mother reached 96, average lifespans are increasing, so 98 should not be out of reach
I’ve got 868 years remaining on my lease. My grandmother only had 644 left on hers when she died.
If people understood how leases work, they wouldn’t waste their time bitching about it (see Spectator comments, passim ad nauseam), and they might get up to something worse. Let’s be grateful.
Cor, look at this!
No not over there, keep looking at this….
And the MSM is doing it for them for free.
Comment came there none about council house leases and leases over properties given to the tenants who came illegally to our shores on rubber boats.