Prince Harry and Meghan Markle struck deal to pay no more Frogmore Cottage rent
Prince Harry and Meghan Markle struck up a deal with Buckingham Palace which allowed them to not pay any further rent for Frogmore Cottage after renovations, according to reports.
Harry, 38, and Meghan, 41, moved into the property in 2019 after it underwent a £2.4 million refurbishment. It was reported that the Sussexes would pay a "commercial rate" for the home, which is located in Windsor.
However, according to The Mail on Sunday, palace officials have since confirmed that after forking out £2.4m in refurbishment costs, Harry and Meghan were able to wipe out any further rental obligation as the work on the property had increased the value significantly.
According to the publication, it's estimated that it would cost between £150,000 and £230,000 per year to rent Frogmore Cottage, meaning Harry and Meghan may have saved themselves nearly £690,000.
A Palace spokesperson told The Mail on Sunday: "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.
"In line with usual practice for the Sovereign Grant report, the accounting treatment was scrutinised and signed off by the National Audit Office and the Treasury. As with any such agreement between landlord and tenant, further details regarding the Sussexes' tenancy arrangements would be a private matter."
OK! has contacted Buckingham Palace and representatives for Meghan and Harry for comment.
Harry and Meghan will not be renewing the lease on the five-bedroom cottage when it ends this month, with the home now being handed over to Princess Eugenie and her husband Jack Brooksbank.
The Sussexes are said to be delighted that Eugenie, 32, and Jack, 36, who they shared a close relationship with, have been given the property.
“The Sussexes are disappointed by the move but couldn’t be happier that Eugenie and Jack will take it over. They have been staying there on and off for the past few years anyway,” a source told OK!.
The insider added: “They went to see Harry and Meghan last month in California. They took over some small personal belongings left in the property. They were also helping to box up items at Frogmore to be shipped over to California.
“Andrew is delighted that his daughter will take over the property for the time being.”
Eugenie, daughter of Prince Andrew and Sarah Ferguson, and Jack are parents to son August, two, and are expecting their second child later this year.
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