Princesses Beatrice and Eugenie Could Inherit Royal Lodge Under One Condition
It all falls on the shoulders of their dad, Prince Andrew.
Royal Lodge has been a hot topic of conversation amidst Prince Andrew and King Charles's recent feud over the property. And while Andrew has reportedly come up with the funds to stay in the Windsor home—at least, for now—the fight over the residence has got people wondering: What will happen to it once he's gone?
It's believed that the Duke of York would like to the leave the house to his two daughters, Princess Beatrice and Princess Eugenie—however, one real estate expert is weighing on the likelihood of that actually happening.
Despite being granted a 75-year lease from the Crown Estate, Robin Edwards of the London property buying agency Curetons told GB News that Andrew would only be able to leave Royal Lodge to his daughters under one condition.
“As long as Prince Andrew can continue to pay the not insignificant upkeep costs of maintaining Royal Lodge as per the terms of his 2003 lease, King Charles and the freeholder the Crown Estate won’t be able to turf him or his descendants out," Edwards explained.
“The 75-year lease agreement, in lieu of rent, requires Andrew to undertake refurbishments of Royal Lodge at his own expense," Edwards continued, adding that costs were "conservatively estimated at £7.5 million" ($9.5 million USD) in 2002. "The costs are likely to have grown significantly since then with time and inflation."
A renovation isn't as simple as it sounds, as Edwards notes Royal Lodge is suffering from "crumbling stonework and peeling paint" among other issues, such as mold.
Edwards shared that much of the interiors haven't been updated since the late Queen Mother moved into the property in the 1950s, but that Princess Beatrice's husband, Edoardo Mapelli Mozzi, who is the founder and CEO of the property development and interior design firm Banda Property, is helping with the renovations.
Earlier this month, it was reported that Andrew secured enough money to stay at Royal Lodge, but that he still needs at least $320,000 for renovations. It's unclear where he got the cash, but nonetheless the crown signed off his staying at the property for now. "It is understood that Prince Andrew’s money has been approved by Sir Michael Stevens, the keeper of the privy purse, as coming from legitimate sources," the Times previously reported.