EXCLUSIVE: King Charles' Youngest Brother Slated Over Raking in Over $175K a Year Sub-Letting Converted Stables on 'Freebie' $40Million Estate
King Charles' brother, Edward, appears to be in hot water.
March 28 2026, Published 11:00 a.m. ET
RadarOnline.com can reveal Edward Windsor is under fire after reports revealed the King's youngest brother has been generating up to $175,000 a year by sub-letting converted stables on a Crown Estate property he occupies under a highly favorable long-term lease.
Edward, 62, and his wife Sophie, 61, the Duke and Duchess of Edinburgh, live at Bagshot Park in Surrey, a sprawling 120-room residence estimated to be worth around $40million. The estate is leased from the Crown Estate, which manages property on behalf of the nation, and is understood to be held under a long-term agreement that now requires only a nominal "peppercorn" rent.
Royal Property Row Erupts Over Bagshot Park Rental Income
Reports have revealed Edward Windsor earned rental income from Crown Estate land.
Controversy has now emerged after a rental listing showed a converted stable block on the grounds being marketed as office space for approximately $14,000 a month, about $175,000 annually, with income reportedly retained by the couple rather than returned to the public purse.
A source familiar with the arrangements said the situation has raised questions about fairness and transparency.
"There is growing concern that Edward is benefiting from a publicly owned asset while paying virtually nothing in rent, and then generating significant private income from it," the insider noted.
"Even if the arrangement is technically within the rules, it looks problematic at a time when public finances are under pressure."
The 62-year-old Duke of Edinburgh lives at the $40million Bagshot Park estate in Surrey.
The East Wing Stable Block, located around 400 meters from the main house, is a two-story, 6,667-square-foot building that has been converted into office space. Marketing materials highlight features including open-plan work areas, meeting rooms, a kitchen, showers, and extensive parking, with easy access to nearby transport links and the M3 motorway.
The property is currently vacant and is believed to have been withdrawn from the market late last year as scrutiny over royal property finances intensified.
U.K. Liberal Democrat Party Minister: 'It's An Outrage'
Critics have argued that commercial income from publicly owned land should be returned to the Treasury.
Edward originally secured a 50-year lease on Bagshot Park in 1998, reportedly paying around $63,000 per year at the time, rising to approximately $113,000 after he invested roughly $1.7million in renovations. In 2007, the lease was extended under a separate agreement, with Windsor said to have paid about $6.3million upfront for a 150-year term. Under such arrangements, it is standard practice for only a nominal rent to be charged once substantial capital investment has been made.
Critics, however, argue any commercial income derived from Crown Estate land should be returned to the Treasury, which uses the profits for public spending.
Norman Baker, a former U.K. Liberal Democrat Party minister, said: "Any money raised from those stables should only be going to one place, the Crown Estate. Crown Estate profits go directly to the Treasury, so it is the taxpayer who is losing out here.
"It provides a very stable income, and on top of paying virtually nothing for Bagshot Park, they are raking in a whole lot more money from other sources. It's an outrage they pay a peppercorn rent as it is, and now Edward and Sophie are free to rake in $175,000 for a stable block as part of the deal. It is outrageous."
He added: "The Public Accounts Committee should honour its part of the investigation and take into account leases and see which are unnecessary and unjustified when ordinary people are struggling to pay bills."
Inquiry Launched as Questions Grow Over Royal Finances
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Palace aides have noted the framework allows for a 'profitable side income' without a clear public benefit.
A palace aide said: "When you look at the arrangement in full, it does end up being quite a profitable side income - especially given that the primary residence itself is held on what is effectively a nominal rent.
"The broader concern is not necessarily about Edward and Sophie personally exploiting anything, but rather that the framework in place makes it entirely possible for this kind of financial advantage to arise without clear public benefit."
Another royal source said the property is not currently leased and is not on the market, despite previous listings advertising the space to corporate tenants, including pharmaceutical firms.
The issue has drawn renewed attention to the financing of royal residences, with the Public Accounts Committee launching an inquiry into Crown Estate arrangements amid broader scrutiny of similar deals involving members of the royal family.
