King Charles’s cousin pays just £2,200 a year for a home in Richmond Park, it has been revealed. Princess Alexandra, 88, has lived at Thatched House Lodge since 1963, and continues to reside there.
While she would have paid a significant amount of money upfront for the home, the rent she pays annually does not appear to be excessively high, according to a letter to the Public Accounts Committee. The documents revealed that the home is owned under a two-part lease, with one agreement signed in 1971 and another in 1995.
In 1971, the princess reportedly paid £3,000 for a 70-year lease, with a rent of £410 per year for the first 35 years, until 2006, and £700 thereafter.
For the second part of the lease in 1995, The Times reports that Princess Alexandra paid a £670,000 premium for a 150-year lease.
This was followed by £1,010 a year rent for the first 25 years, which rose to £1,500 a year for the following 25 years.
The Times reports that this will eventually go up to £6,000 by the last 25-year period, which suggests an annual rent of £2,200 at the moment.
This is just £183 a month for the London property, which belongs to the Crown Estate.