Former Prince Andrew awarded $400,000 in compensation after surrendering his lease in Windsor
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LONDON (AP) — The former Prince Andrew has been awarded 302,000 pounds ($400,000) in compensation after he was forced to surrender the lease on his long-time home ahead of schedule due to the public outcry surrounding his relationship with the convicted sex-offender Jeffrey Epstein.
The Crown Estate released the compensation figure on Friday as it announced that the former prince, now known as Andrew Mountbatten-Windsor, had fully vacated the Royal Lodge, a 30-room stately home surrounded by parkland near Windsor Castle, west of London. Mountbatten-Windsor was entitled to compensation because he moved out of the property less than 25 years into his 75-year lease, the Crown Estate said.
The money was deducted from the 1.8 million pounds Mountbatten-Windsor owed because of the condition of the property, meaning he actually paid the Crown Estate about 1.5 million pounds. The Crown Estate is an independent company established by Parliament to manage a vast portfolio of property throughout the United Kingdom that is nominally owned by the sovereign but is operated for the benefit of taxpayers.
“The lease for Royal Lodge has ended and our focus now is firmly on its future use and the opportunities to generate additional financial value for the nation from its early return,” the Crown Estate said in a statement.
