Prince Edward's Stable Rental Profit Sparks Inquiry

0:00On March 28, Prince Edward, King Charles's younger brother, is catching heat for turning a profit on public property. The 62-year-old Duke of Edinburgh lives at Backshot Park, a $40 million mansion in Surrey, leased from the Crown Estate for, basically, pocket change, a symbolic peppercorn rent. But he's been subletting converted stables nearby, pulling in up to $175,000 a year from office space rentals. Those stables sit about 400 meters from the main house, a big 6,067 square foot setup with open offices, meeting rooms, kitchens, and plenty of parking. It was marketed to companies like drug firms, but got pulled off the market late last year as questions piled up. Critics are fired up, saying this setup lets royals cash in on taxpayer own land without giving back. Former Liberal Democrat Minister Norman Baker called it an outrage, arguing all that rental cash should flow straight to the Treasury for public use, especially when folks are struggling with bills.

1:05Palace insiders admit it adds up to a nice side hustle on top of the cheap lease, but stress the property's vacant now and not listed. Still, no one's denying the favorable deal. This mess has sparked a full inquiry by the Public Accounts Committee into Crown Estate leases and Royal Finances, shining a light on how these. Arrangements hold up under public pressure. Stay in the know with entertainment and celebrity news today. AI-powered updates. I'm Cory with the story.