How Prince Harry and Meghan Markle lost millions on their ‘forever' home renno
The Duke and Duchess of Sussex have officially said goodbye to Frogmore Cottage, which was gifted to them by the late Queen Elizabeth II.
But it's not just the keys that have been handed over.
Along with their departure from the Windsor residence came the hefty loss of millions of pounds.
Frogmore was originally intended as a long-term base for the couple, but just months after completing major renovations in 2019, initially funded in part by a Sovereign Grant and later fully reimbursed by the Sussexes, they stepped back from royal duties and relocated to California.
The couple now reside in Montecito with their two children, Prince Archie and Princess Lilibet.
Terry Fisher of 'We Buy Any Home' explained why their investment was ultimately 'futile'.
'Even if someone makes improvements or invests in a royal property, that doesn't give them a lasting stake in it,' he told
Hello
.
Mr Fisher continued: 'It is more like an extended loan, and when that time ends, it is returned to the Crown.'
According to reports, Prince Harry and Meghan received no reimbursement for the personal funds spent modernising the Grade-II listed home. That includes everything from an eco-friendly boiler system delivering low-carbon heat and endless hot water to top-tier security features, now lost to the Crown Estate.
'The rules around royal homes are very different to those in everyday property ownership,' Mr Fisher added.
'When it comes to legal rights, there simply are none in the way most homeowners understand them.'
The couple had previously reimbursed £2.4 million (over $A4.9 million) in public funds used for the initial renovations after facing public criticism.
Now, the final chapter in their UK housing saga closes with Frogmore back under Crown control.
Their departure from the cottage marks more than just a change of address, and it is a symbolic severing of one of the last ties to royal life in Britain.
It's yet another signal that Prince Harry and Meghan have no plans to return to royal roles, instead continuing to build their future in a different country.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Sydney Morning Herald
2 days ago
- Sydney Morning Herald
Want a secure, high-paying job? Don't expect university to get you there
I often debate with my university friends whether the debt and opportunity cost of going to university was worth it, especially now that the rise of non-degree workers is impossible to ignore. Recently, a friend I hadn't seen since high school pulled up to our running club in a brand-new Mercedes. No surprise, he went into real estate. Another casually mentioned dropping $500 on a night out at Crown. You guessed it, he's a sparky. It makes me wonder if I were finishing high school today, would a university degree offer the same clear-cut value proposition it did a decade ago? Why spend years studying when you can make six figures in construction straight out of school. In Australia, construction wages have outpaced the broader economy over the past decade as a result of increasing labour shortages, mirroring trends in the US, where blue-collar workers have seen significant wage gains post-pandemic. 'The median income of men in their 20s with a vocational qualification is higher than for those with a bachelor's degree,' says Andrew Norton, a professor of higher education policy at Monash Business School. Loading But he adds: 'Income growth in trades tends to stall in their 30s, while it continues for graduates.' According to The Wall Street Journal, young Americans are increasingly choosing trades over higher education, perceiving that they offer better job prospects in a future where artificial intelligence threatens white-collar graduate roles. Some employers are now offering highschoolers $US70,000 ($107,000) jobs to take up a trade. Increasing economic uncertainty and fears of recession are also causing companies to retain existing workers longer, while reports from the UK and US reveal graduates are struggling to find work as entry-level positions disappear.
AU Financial Review
3 days ago
- AU Financial Review
Texan investment giant's $1b buy order pumps up CBA's share price
A Texas-headquartered investment manager has spent as much as $1 billion buying up Commonwealth Bank shares over the past fortnight, helping push the market capitalisation of the lending giant over $300 billion. Fisher Investments, founded by billionaire stockpicker Ken Fisher in 1979, manages more than $US299 billion ($459 billion) for thousands of clients. Sources said Fisher was buying on behalf of clients who wanted to increase the exposure of their share portfolios beyond volatile markets in the United States.
The Age
3 days ago
- The Age
Want a secure, high-paying job? Don't expect university will get you there
I often debate with my university friends whether the debt and opportunity cost of going to university was worth it, especially now that the rise of non-degree workers is impossible to ignore. Recently, a friend I hadn't seen since high school pulled up to our running club in a brand-new Mercedes. No surprise, he went into real estate. Another casually mentioned dropping $500 on a night out at Crown. You guessed it, he's a sparky. It makes me wonder if I were finishing high school today, would a university degree offer the same clear-cut value proposition it did a decade ago? Why spend years studying when you can make six figures in construction straight out of school. In Australia, construction wages have outpaced the broader economy over the past decade as a result of increasing labour shortages, mirroring trends in the US, where blue-collar workers have seen significant wage gains post-pandemic. 'The median income of men in their 20s with a vocational qualification is higher than for those with a bachelor's degree,' says Andrew Norton, a professor of higher education policy at Monash Business School. Loading But he adds: 'Income growth in trades tends to stall in their 30s, while it continues for graduates.' According to The Wall Street Journal, young Americans are increasingly choosing trades over higher education, perceiving that they offer better job prospects in a future where artificial intelligence threatens white-collar graduate roles. Some employers are now offering highschoolers $US70,000 ($107,000) jobs to take up a trade. Increasing economic uncertainty and fears of recession are also causing companies to retain existing workers longer, while reports from the UK and US reveal graduates are struggling to find work as entry-level positions disappear.
