Renting out the Royal Lodge, where the disgraced Prince currently lives, might net the royal coffers up to £1 million a year.
King Charles is reportedly planning to rent out the Royal Lodge for up to £1 million a year after Prince Andrew finally vacates the premises.
His Majesty is understood to be eager to generate revenue from the £30 million mansion though Andrew apparently remains reluctant to leave, The Sun reports.
His brother – who stepped back from public duties amid allegations of sex trafficking related to his relationship with late financier and paedophile Jeffrey Epstein – has apparently so far rejected all offers of alternative accommodation.
An insider told the newspaper: ‘It makes sense for Royal Lodge to be handed back to Crown Estates, which can pay for the much-needed repairs and renovations.
‘It could then be rented to earn money for them, the King’s coffers and the country rather than being a drain on everyone’s resources.’
One property expert is understood to have speculated that ‘rental of £1 million a year is not far-fetched for a house of that size with incredible royal connections.’
It follows amid reports that Charles has threatened to completely sever ties with Andrew if he does not vacate the Royal Lodge for Frogmore Cottage, previously occupied by Prince Harry.
Andrew is understood to be presently living at the property with his ex-wife Sarah Ferguson.
Rumours have even been swirling that Prince William may at one point have been eyeing the mansion for his own family.
A friend of Charles previously said: ‘Unfortunately, if Andrew refuses to leave within a reasonable time frame, then the King may be forced to reassess the whole package of support he provides.
‘And the duke would be required to fund the lion’s share of his security, accommodation and lifestyle costs all on his own – which, given the sums involved, is highly unlikely to be possible in the long term.’
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