Prince Edward is leasing a grand estate in Surrey under favorable terms, reminiscent of an arrangement his brother, Andrew Mountbatten Windsor, enjoys.

The Duke of Edinburgh, a title he inherited following the passing of his father, Prince Philip, in April 2021, has resided in the expansive 120-room Bagshot Park with the Duchess of Edinburgh since March 1998.

Originally, Edward secured a 50-year lease on the property at a cost of £50,000 annually. However, this increased to £90,000 per year after he invested £1.36 million in renovations, with the Crown Estate contributing an additional £3 million for further enhancements.

In 2007, Edward extended his lease through his company, Eclipse Nominees Limited. By paying £5 million upfront for a 150-year lease, reportedly verified by market standards, he now benefits from a nominal annual fee, according to The Times.

The agreement stipulates no specific conditions on selling the lease in the future, aside from ensuring any new occupant can meet the costs of property upkeep, as reported by the newspaper.

This arrangement mirrors that of his brother Andrew, who in 2003, paid £1 million for a 75-year lease on the Windsor Royal Lodge, and has been required to pay just a symbolic annual rent of ‘one peppercorn,’ but only if it is requested.

Although conditions on Andrew’s lease limited him to passing it on to his wife, Sarah Ferguson, or his children, Princess Eugenie and Princess Beatrice.

Andrew is in the process of being booted from the Grade II-listed mansion, his and Sarah’s 30-room home, after being stripped of his royal titles over his links to late paedophile Jeffrey Epstein last month.

The former prince, who has vehemently denied the accusations against him, is set to relocate to a property on the Sandringham estate as soon as practicably possible – which is expected to be well into the New Year.    

Edward, now titled as the Duke of Edinburgh, lives at Bagshot Park (pictured) and has been paying a peppercorn rent for the mansion in Surry since 2007

The Duke of Edinburgh (left) moved into the 120-room Bagshot Park with his wife, the Duchess of Edinburgh (right), in March 1998

Last night, the Daily Mail confirmed that Andrew’s move from Royal Lodge will not happen this side of Christmas,  but will instead take place some time in 2026.

Sources have indicated that the ‘practicalities’ of packing up his belongings at ten-bedroom Royal Lodge, where he has lived on the Windsor Estate for more than 30 years, and moving to his undisclosed new home were ‘quite a substantial logistical process, if nothing else’.

He also needs to negotiate the ending of his 75-year lease on the property from the Crown Estate early, which some fear could see him in line to collect compensation given the work he has already carried out on the property.

But happily, it will also take Andrew – who has now lost everything over his relationship with convicted paedophile Epstein – out of the picture when the Royal Family gather in Norfolk on Christmas Eve for their annual festive break.

A source said the situation could have proved ‘quite awkward’ at a time when Andrew quite clearly isn’t welcome.

‘He won’t be anywhere near the Big House [the nickname given to the monarch’s home at Sandringham],’ they confirmed.

While the move to the estate won’t happen imminently for logistical reasons, they explained, people were also acutely aware any physical proximity to his family at such a special time of year would make his exclusion ‘seem even more barbed’.

Sandringham was chosen because it is the sovereign’s personal estate, meaning that Andrew’s living arrangements can be sorted – and, crucially, funded – completely privately.

Prince Andrew has lived at lavish 30-room property Royal Lodge (pictured) since 2003

Buckingham Palace announced on October 17 that Andrew would stop using his remaining titles and honours and would no longer be known as the Duke of York.

Three days later Andrew’s title was scrubbed out on his profile page on the royal website to reflect the loss of this dukedom over the Jeffrey Epstein sex scandal.

On October 30, it was revealed that Andrew would lose his prince title, before this was officially actioned on November 7 by the King, who also removed his HRH style.

But Andrew was still listed until recently on the website’s line of succession page in eighth as ‘The Duke of York’, behind Prince Archie and Princess Lilibet of Sussex.

Now, with his public life having been effectively ended, the website has finally been updated and the line of succession entry appears as ‘Andrew Mountbatten-Windsor’.

His profile page was already taken down at the start of November, with a message on royal.uk/the-duke-of-york now saying: ‘The requested page could not be found.’

Buckingham Palace declined to comment.