Prince William and Princess Kate have made the decision to relocate from four-bedroom Adelaide Cottage to eight-bedroom Forest Lodge, along with their three children, Prince George, Princess Charlotte and Prince Louis. The move, a few miles down the road, will take place later this year. Despite this grand residence being branded their "forever home", the royal couple will be paying rent instead of buying the property outright. Keep reading to discover the reason behind this.
The Grade II listed building's freehold is owned by King Charles, under the Crown Estate so the property will be leased to the royals by the monarch. The Wales family will pay what is deemed the 'market rate' in terms of rent, but this figure is never likely to be disclosed. What we do know is that in 2001, Forest Lodge underwent £1.5 million worth of restoration works and was put on the rental market for £15,000 a month, so it will be upwards of that figure given market inflation.
© Getty ImagesIt's very common for royal family members to have this sort of arrangement with the Crown Estate, and here are some examples…
Prince Edward and his wife Duchess Sophie have lived at Bagshot Park in Surrey for over 25 years, after moving in following their royal wedding in 1999. They lease the residence from the Crown Estate and The Telegraph has reported that the couple has now extended the lease for another 150 years. Prince Andrew also leases his home, Royal Lodge in Windsor, from the Crown Estate, and he currently has his ex-wife Sarah Ferguson living there too.
Upsizing for more space
© Getty, ShutterstockDanielle Stacey, HELLO!'s Online Royal Correspondent, gives us an expert insight into the move.
She said: "The Prince and Princess of Wales clearly love living in Windsor, the children are settled at Lambrook School nearby, and they will still be close to Windsor Castle for royal functions and engagements.
"Upsizing to Forest Lodge allows the family more space and has already been viewed as their 'forever home,' rather than having the children growing up within the walls of a palace."
More renovations
It's been a while since the residence was done up, so it's due an overhaul and that's exactly what's happening ahead of the Waleses moving in. Internal and external renovations are reportedly underway, and the family will be set to relocate later this year. The changes will have had to be approve by the local authorities, given the fact the property is a listed building.
