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Andrew made £15m on private sale of Sunninghill Park that was a gift from the Queen - report


Andrew Mountbatten Windsor's family home, Sunninghill Park, which was a gift from the late Queen, was sold for £15m a new report has found.


Prince Andrew looking to right in suit© Getty
4 days ago
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Andrew Mountbatten Windsor reportedly made £15 million when he sold a property he had been gifted. According to a new report by The Times on Sunday, a trust structure created by the late Queen allowed Andrew to sell his Sunninghill Park, which had been the family home to Andrew, Sarah Ferguson and their two children, Princess Eugenie and Princess Beatrice until 2004 when they moved to Royal Lodge.

The 12-bedroom mansion, which was a wedding gift from Queen Elizabeth, was then privately sold five years after Andrew moved out despite initially being owned by the Crown Estate for the benefit of the taxpayer. Typically, any profits made from the Crown Estate – which is separate from the monarch's private property – go directly to the UK Treasury and contribute towards public spending.

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Despite initially receiving low interest from prospective buyers, in 2007, he received an offer on Sunninghill Park of £15 million from Timur Kulibayev, a billionaire and the son-in-law of Nursultan Nazarbayev, who was then president of Kazakhstan. During his time as international trade envoy, Andrew had close links to the country and was, in 2016, alleged by the Daily Mail to be acting as a 'private fixer' for Kazakh businesses.

The Times reported that £7.5 million of the profits were used for the refurbishment of the Royal Lodge, a crown-owned estate where he lived virtually rent-free until 30 October, when it was announced that his lease would be revoked. It was also reported that a trust named 'Tyrolese', a nod to the royals' skiing destination in Austria, bought the property from the Crown Estate. It was further added that during Andrew's decade-long stint at Sunninghill, Tyrolese remained responsible for paying the annual rent of £100.

Aerial view of Sunninghill Park in Berkshire© Shutterstock
Andrew sold Sunninghill Park in 2007 for the sum of £15m, £3m above the asking price

Andrew's move from the Royal Lodge 

On 30 October, it was announced that Andrew would be leaving the Royal Lodge – a residence he has effectively lived in rent-free since 2003. "His lease on Royal Lodge has, to date, provided him with legal protection to continue in residence. Formal notice has now been served to surrender the lease and he will move to alternative private accommodation. These censures are deemed necessary, notwithstanding the fact that he continues to deny the allegations against him."

Royal Lodge aerial view© Shutterstock
Andrew and his family have lived in the Royal Lodge since 2003

HELLO! understands that Andrew will move to a property on the private Sandringham estate, which, unlike other royal residences, is privately owned by the royal family. Any future accommodation will be privately funded by the King.

King Charles III, Princess Anne, Prince Andrew, and Prince Edward walk along The Royal Mile as they accompany Queen Elizabeth II's coffin to St Giles' Cathedral for a Service of Thanksgiving© Getty Images
Andrew was stripped of all his titles and has had his lease on Royal Lodge revoked.

It comes a week after talks were said to have begun between the former Duke of York and palace officials as pressure mounted for Andrew to up the residence voluntarily after the furor over the "peppercorn" rent for the 30-room mansion, where he has lived for over 20 years.

A copy of the leasehold agreement was seen by The Times on 21 October, which showed Andrew signed a 75-year lease on the property in 2003. It also revealed he paid £1 million for the lease and that since then he has paid "one peppercorn" of rent "if demanded" per year. 

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