The Prince and Princess of Wales are to move into a new home in Windsor, it has been confirmed. William and Kate are moving to eight-bedroom Forest Lodge in Windsor Great Park, with their children George, Charlotte and Louis.

A Kensington Palace spokesperson said: “The Wales family will move house later this year.” According to The Sun, the royal couple are paying for the property and renovations themselves, avoiding any extra cost to the taxpayer.

The paper reported that work has already started on minor renovation at the Grade II-listed property.

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Redacted planning applications lodged with the Royal Borough of Windsor and Maidenhead show permission for minor internal and external alterations was granted earlier this month.

The council’s decision notice refers to the removal of a window and works to a fireplace.

Prince George, Prince William the Prince of Wales, Princess of Wales Kate Middleton, Prince Louis and Princess Charlotte

The royal family will not be moving far -Credit:Ian Vogler / Daily Mirror

In 2001, Forest Lodge underwent £1.5m restoration works and was put on the rental market for £15,000 a month.

Images inside the home taken at the time showed the property boasted original stonework, elaborate plaster cornices and ceiling decoration ,and a half-barrel vaulted hallway ceiling.

The Wales’ move will be a short one from their current main home at Adelaide Cottage in Windsor, and the children attend nearby Lambrook School.

They also have homes at Anmer Hall in Norfolk and Apartment 1A in Kensington Palace in London.

As heir to the throne, William inherited the Duchy of Cornwall estate, a portfolio of land, property and investments valued at more than £1 billion, when his father became King.

According to The Sun, Forest Lodge would be worth about £16m on the open market. The freehold is owned by the King.