All posts tagged: peppercorn

Surprising amount of rent Prince William pays following family members’ ‘peppercorn’ deals

Surprising amount of rent Prince William pays following family members’ ‘peppercorn’ deals

The Prince of Wales and his family call Forest Lodge in Windsor their primary residence, and a new report in The Times has revealed how much the family are paying in rent. Although documentation filed this week shows that the family are now the owners of the Georgian mansion’s lease, they have been paying £307,500 a year in rent. It had previously been revealed that William and his family signed a 20-year lease on the property, but the rental details had been kept out of the public realm. The move to go public with their rental agreements comes in the wake of revelations that several members of the royal family had secured ‘peppercorn’ agreements for their properties. Peppercorn rent is a legal term describing the symbolic payment of rent paid by someone to the Crown Estate. It is a nominal or token amount that satisfies the legal requirements of the contract, but it is so low an amount that its function is more symbolic than anything else. Among those who benefitted from these agreements were …