Harry and Meghan have avoided paying a £690,000 rent for Frogmore Cottage.
According to the Daily Record, Prince Harry and Meghan Markle are said to have saved £690,000 on rent for their UK home, Frogmore Cottage. Earlier in March, the couple’s representative confirmed that they had been “kicked out” of the house by King Charles.
Harry and Meghan took over the property in 2019, after their marriage. At the time, it was thought they would be paying “commercial rent.” The estimated rental value of the property is between £150,000 and £230,000 a year.
Harry and Meghan’s lease on their former home in England will not be renewed when it ends at the end of this month.
The reason Harry and Meghan don’t have to pay this rent is because they have already spent £2.4 million on renovations and renovations to the house. Their agreement with Buckingham Palace sees this fee as adding to the overall value of the property and therefore replacing the annual rent, according to the Mail on Sunday.
A Palace spokesman said: “The Duke and Duchess of Sussex have made a £2.4 million contribution to the Sovereign Grant to pay for the refurbishment of Frogmore Cottage. They have fulfilled their financial obligations in relation to the property.
As is customary for the Sovereign Grant report, the accounting treatment has been thoroughly reviewed and signed off by the National Audit Office and the Treasury. As with any similar agreement between a landlord and tenant, further details of the Sussexes’ tenancy arrangement will remain a private matter.”
The Sussexes took possession of Frogmore Cottage in 2019, after a major renovation that transformed it from a multi-family estate into a large family home.
When they stepped back from royal duties to become “financially independent”, Buckingham Palace released a statement saying the couple “looked forward to repaying the Sovereign Grant costs of refurbishing Frogmore Cottage, which will remain their family home in the United Kingdom”. However, the news that Harry was rent-free was not made public at the time.
Frogmore Cottage is a mansion in Windsor, England, located within Windsor Park and owned by the Crown Estate. It became famous when Prince Harry and Meghan Markle, the Duke and Duchess of Sussex, moved there in 2019 after extensive renovations and renovations were completed.
Frogmore Cottage was originally part of the grounds of Frogmore House, an ancient building built in 1680 and used as a resting place for the British Royal Family since the 18th century. The house is divided into many rooms with many amenities such as a living room, dining room, bedroom and bathroom. In addition, the house also has a large garden and is surrounded by lush green trees.