The cost of Prince Edward’s lease on a 120-room royal estate is causing a stir — and not for the reason many of Us might think.
Like his brother, the former Prince Andrew, Edward, 61, is only shelling out a “peppercorn” rent, according to a report from The Sunday Times that was released on Friday, November 28. Meaning, the royal family member pays a symbolic amount to continue residing in the Surrey residence.
Edward and his spouse, Sophie, have been renting their 51-acre property from the Crown for the past 25 years. In 2007, they inked a lease renewal that stipulated they must give £5 million ($6.6 million) to rent the residence for another 150 years. The Times further stated there are no additional stipulations on the lease.
The agreement is akin to the one Andrew Mountbatten-Windsor had when renting the Royal Lodge. To live in the residence, Andrew initially paid £8.5 million ($112 million), and then he continued to pay a symbolic rental amount. Andrew’s lease also stipulated that he could bequeath the residence to former spouse Sarah Ferguson or their daughters, Princess Beatrice and Princess Eugenie.
(Andrew is reportedly leaving the royal lodge after King Charles’ choice to take away his younger brother’s royal titles and affiliations. On October 30, 2025, Andrew was formally told to vacate the residence.)
The outlet also noted that Edward’s leasing arrangement might be of special interest to the public, especially given that he is 15th in line for the throne and it could be challenging to defend why he needs to reside in such a sizable estate that, if a royal didn’t occupy it, could otherwise be rented out.
Historically, the British royal family has kept the specifics of their finances private. According to former Liberal Democrat minister Norman Baker, “It is obscene not just that Edward and Sophie have been given a 120-room mansion to live in, but even more so that they have to pay a mere peppercorn rent, less than a struggling couple would pay to rent a pokey flat in Romford.”
Us Weekly has contacted Buckingham Palace for comment.
Prince Edward Chris Jackson – WPA Pool/Getty Images
Edward and Sophie initially crossed paths in 1987 while she was employed as a press officer at Capital Radio. At the time, Edward was dating one of Sophie’s pals, but they reconnected in 1993 and began a relationship.
Edward proposed in December 1998, and he and Sophie got hitched in June 1999 at St. George’s Chapel. Three years later, Sophie transitioned into a full-time working royal, and they welcomed their daughter Lady Louise in November 2003, two years after Sophie experienced an ectopic pregnancy and was rushed to a London hospital for potentially life-saving treatment.
Edward and Sophie’s son James was born December 2007, and the two have brought up their family in their residence, which the Crown provides.
In March 2023, King Charles gave Edward the title of Duke of Edinburgh on his younger brother’s 59th birthday. Their father, Prince Philip, previously held the title, but he passed away in April 2021.
Philip was given the title when he wed then-Princess Elizabeth in 1947, and it was generally believed that he wanted Edward to inherit it after he passed away. The title also signified that Edward might take on a larger role within the royal family, particularly in light of Prince Andrew’s scandals and subsequent demotion.
Edward and his sister Princess Anne were also quickly made “counselors of the state” toward the end of 2023, enabling them to act on behalf of King Charles if necessary.
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