The winners and losers in the great Royal property merry-go-round

The Duke of York could make a £1.5m windfall if he leaves Royal Lodge this year.

A government document seen by The Mail on Sunday reveals that Prince Andrew would be entitled to a refund of money he spent renovating the 30-bedroom Windsor property when he first moved in two decades ago.

The Duke of York, who was photographed at the Windsor estate yesterday, smiling broadly at a jogger sitting behind the wheel of his Range Rover, acquired the lease in August 2003, a year after the death of the Queen Mother who had lived there.

It then spent more than £7.5 million on renovations. Under the terms of the lease, he is entitled to a refund if he moves within 25 years. It’s calculated on a sliding scale, so if he leaves this year, 20 years after the deal, he could recoup £1.5m.

The document states: ‘Should the Duke wish to terminate the lease, the property would revert to the Crown Estate.

Prince Andrew, pictured driving his hybrid Range Rover on The Long Walk at the Windsor estate yesterday, could receive a refund of £1.5m in cash he spent on renovating his home.

‘The estate may then be required to pay you compensation in respect of the restoration costs incurred. The maximum compensation of just under £7 million is subject to annual reductions for the first 25 years. At the end of that period, no compensation will be paid.’

Details of the lease were published in a parliamentary document in 2005 after Labor MP Ian Davidson requested the information.

The document explains how Andrew approached the Crown Estate to acquire the lease for the sprawling property, which includes a swimming pool and several cottages on the grounds for staff, after the Queen Mother’s death. Instead, the Royal Family suggested the commercial lease.

The Duke of York was photographed riding a horse. Details of the lease for him at the Royal Lodge became public in 2005 after Labor MP Ian Davison requested the information.

However, the property is said to be too expensive to protect now, as the duke lost his state-funded police detail when he was forced to retire from royal duties in 2019. He now relies on bodyguards paid by the king.

However, King Charles is said to be exasperated that Andrew insists on wanting to stay at the Royal Lodge, which costs an estimated £3 million a year to protect.

Plans are now afoot for Andrew to be offered Frogmore Cottage when the Duke and Duchess of Sussex move in.

A source said: ‘Royal Lodge is no longer suitable for the duke. He is a single man living with his ex-wife who has a property of her own in London.

‘The scale of Royal Lodge means it requires two teams [of bodyguards] – a mobile team and a static team – and that is a considerable expense. The king is happy to provide security for his brother, but a better use of resources would be to house him at Frogmore Cottage.