According to reports, Prince Harry and Meghan Markle may have saved as much as £690,000 by agreeing to no longer pay rent for Frogmore Cottage.
Harry And Meghan Allegedly Saved £690,000 By Not Paying Rent At Frogmore Cottage
The agreement made regarding Buckingham Palace involves acknowledging the rise in the property’s worth as a result of the renovations as compensation for rent.
It is alleged that the Duke and Duchess of Sussex reached an agreement with Buckingham Palace after they repaid £2.4 million that was utilized for renovating their Windsor residence.
When the Sussexes first moved into their residence in 2019, it was anticipated that they would pay a “commercial rate.”
Frogmore Cottage was chosen by the Sussexes as their official residence, and they moved in after a significant renovation project that transformed the property from several small homes into a spacious family residence.
The property has five bedrooms and is valued at an estimated rental rate of £150,000 to £230,000 per year, which means that the Sussexes may have saved up to £690,000 over the past three years.
Following their decision to become financially independent and step away from royal duties, Buckingham Palace issued a statement indicating that the couple wished to repay the expenses incurred for the renovation of Frogmore Cottage.
However, the details of the agreement to waive future rental obligations were not disclosed to the public at the time. A source said the following: “The Duke and Duchess of Sussex made a contribution of £2.4 million to the Sovereign Grant which covered the refurbishment of Frogmore Cottage.
“They have fulfilled their financial obligations in relation to the property.” The response on social media was one of outrage.
This was on the basis that the Sussexes had benefited financially from attacking the firm, despite having had tangible benefits from the institution.
Meanwhile, others began to criticize the couple on the basis that this was not disclosed, as it would have given the public more transparency.
One person wrote: “He has every right! He was born a prince! He will always be royal and so will Meghan by virtue of marriage! Sorry…not sorry.”
It is fair to say that this has not painted the Sussexes in a positive light, nor is that going to change anytime soon, unless there is a change. So there you have it folks. What did you think about this?
Let us know your thoughts in the comments section below.
