Future Home for Prince Harry

[Osipi]

Actually, when the time comes, providing residences for these people would fall to whomever is monarch at the time. That's quite a ways in the future and who knows how things will be when that time comes. The same with Harry's family. What was normally done in the mid 20th century has somewhat changed now in the 21st century and most likely will change again as time passes.

We have to remember that the monarch's personal properties of Sandringham and Balmoral came close to leaving the British royal family. George VI had to buy them back from the abdicated Edward VIII as Edward had inherited the properties when his father, George V, died.

However things go, I'm pretty sure that whatever arrangements are made for Harry's residences, it will be something that is agreeable to all.

 

[tommy100]

Since ONLY the Monarch can pass his/her estate [in its entirety] without punitive taxation, the sole way any other person can pay very little is by setting up Trusts, thus avoiding 'the worst of it' and paying [like the new Duke of Westminster] 'peanuts'. Most Ancestral Homes are now protected in this manner.

Whether the Princess Royal has organised such a trust for Gatcombe Park isn't known, and will only become obvious on her death.

Harry could go down that route, but should that become public knowledge he would attract considerable criticism. Doing what aristocrats and plutocrats do is altogether more difficult for the Royal family, as they are considered public 'property'..

I've read on numerous occasions that Sunninghill and Gatcombe (or at least the farm that was later purchased and used by Captain Phillips) are actually owned by Trusts in the name of Beatrice & Eugenie and Peter & Zara.

 

[tommy100]

I suspect surely Charles has enough csh to allow him to purchase a house for Harry if he wanted, also bear in mind that Harry no doubt has his own wealth he could use. That is what makes me think he is likely to have a country house of some sort, he can afford to buy his own if he wanted one.
Bear in mind Harry has inheritance from Diana, the QM apparently and I would guess also QE2.

 

[O-H Anglophile]

I've read on numerous occasions that Sunninghill and Gatcombe (or at least the farm that was later purchased and used by Captain Phillips) are actually owned by Trusts in the name of Beatrice & Eugenie and Peter & Zara.

Sunninghill was sold years ago to a Kazakh billionaire and was demolished after becoming dilapidated.

 

[tommy100]

Yes sorry I meant it was owned by a Trust ...
Prince Andrew's £15m house sale and the truth revealed | Daily Mail Online
Indeed, it insisted that Prince Andrew had played no part in the arrangements himself, declaring that it was instead negotiated by a trust headed by the Queen’s leading financial adviser, Sir Alan Reid, and a representative of her lawyers Farrer & Co.
‘The sale of Sunninghill Park was a straight commercial transaction between the Trust which owned the house and the Trust which bought it,’ read a statement.
‘There were no side deals and absolutely no arrangement from the Duke of York to benefit otherwise or to commit to any other commercial arrangement. Any suggestion otherwise is completely false.’

 

[O-H Anglophile]

I suspect surely Charles has enough csh to allow him to purchase a house for Harry if he wanted, also bear in mind that Harry no doubt has his own wealth he could use. That is what makes me think he is likely to have a country house of some sort, he can afford to buy his own if he wanted one.
Bear in mind Harry has inheritance from Diana, the QM apparently and I would guess also QE2.

That depends on how much of Charles' wealth is his personally and how much is the Duke of Cornwall's. They are not one and the same.
And much of Harry's wealth is tied up in investments to provide an income. If he spends too much capital, his income will substantially decrease.

 

[Iluvbertie]

I

I do see him getting a substantial grace and favor London Home, not on the scale of Clarence House, but probably one of the better KP apartments. In this respect he is going to make out better than his aunt and uncles but he benefits from being part of a smaller pool of working royals in his generation, the only non-heir that Charles has to provide for, with that being amplified by the fact that Charles has likely accumulated considerable wealth during his decades as the Duke of Cornwall.

I am not so sure about that.

Remember he had to borrow money from the Queen and Queen Mum to pay Diana's divorce settlement and was basically bankrupt at that time because he gives so much to charity. He doesn't keep very much of the Duchy for the future at all.

Prior to marry Diana he voluntarily paid 50% of the income in tax and then reduced that to 25% to cover the expenses he then had with a wife and children. Most of what he buys he also adds to the Royal Collection so that it will remain with the family and the nation but not be sellable - like most of the Duchy of Cornwall properties.

Why should anyone buy Harry a home when he is a multi-millionaire in his own right?

Most parents would expect their children, especially when they are as wealthy as Harry, to stand on their own two feet by the time they are in their mid-30s and support themselves but somehow Harry isn't expected to behave as a grown-up and have his father still support him and buy him a home.

 

[O-H Anglophile]

Why should anyone buy Harry a home when he is a multi-millionaire in his own right?

Most parents would expect their children, especially when they are as wealthy as Harry, to stand on their own two feet by the time they are in their mid-30s and support themselves but somehow Harry isn't expected to behave as a grown-up and have his father still support him and buy him a home.

If Harry didn't have to have 24 hour RPOs and a secure perimeter I'd agree with you, but because of who Harry's grandmother, father and brother are there are circumstances of his living arrangements of which he does not have control.

 

[Pranter]

There's not many parents who wouldn't help their kids out to buy a house if they could...regardless of who they are or their income. Tell me if you won the gazillion dollar lottery tomorrow you wouldn't help your kids/grandkids out?? I sure would.


LaRae

 

[Skippyboo]

Does Anne, Andrew, Edward and Sophie have 24hr RPO coverage now? William has 2 children soon to be 3. Harry isn’t the spare anymore.

 

[Curryong]

Anne, Andrew, Edward and Sophie didn't serve in Afghanistan twice. It's been said that Harry gets special protection, which I'm sure he doesn't want, because of possible threats. Harry will be a senior Royal for the conceivable future and certainly until George begins Royal duties, so he will have RPOs.

 

[Iluvbertie]

Yes - the children of the monarch have 24/7 protection as do Charles' children and grandchildren.

Philip, Camilla and Kate also have 24/7 protection but Sophie and the Gloucesters and Kents only have it when doing public appearances as the spouses of the younger children are no longer deemed a high target.

As for would I help my kids if I won millions - depends - if they were already millionaires - no (one is and one is well on the way having both bought their first homes as teenagers and putting their money into that set up rather than drink, cigarettes and other socialising - their choices but they now both own a number of homes across NSW and they have the same approach - buy run-down, do up and sell. The eldest bought their first property in Armidale in NSW for $150,000 while at uni and spent as much time and money as they could while they were at uni to do it up. When they left uni they sold it for 324,000 and immediately bought a two new homes in Dubbo and did the same thing - did them up and sold them. The last home they did that with - bought at 678,000 and sold fro 4.5 million. Where did they get the money to begin with - saved their money from working at high school and used that as a deposit and had a job while studying part-time so arranged their lectures etc to be late afternoons and able to hold down a full-time job with working on Saturdays as well. Did he ask for any help - no. He would have seen that as a failure as a young adult to expect his parents to help him in anyway. He believes that our money is ours and we should spend it - just as his money is his and he will use it on his wife and children but has left everything to charity and not to the kids in his will if they are past 18 when he dies.)

 

[Curryong]

Andrew is worth by some estimates about 75 million dollars, (in spite of also being a divorcee) Edward about 45 million, Anne, about 30 million. Did they get help from the Queen? Yes. (Gatcombe park is now worth about 15 million. Perhaps she should pay her mother back what the estate cost then?)

We will see in the course of the next few years as to whether he agrees with your opinion, Iluvbertie, in not helping the younger of his two children at all, while the heir has already been helped. He has also, it's believed, set up trust funds for his stepchildren. I believe he will follow the Queen in assisting his offspring.

 

[Skippyboo]

I am not so sure about that.

Remember he had to borrow money from the Queen and Queen Mum to pay Diana's divorce settlement and was basically bankrupt at that time because he gives so much to charity. He doesn't keep very much of the Duchy for the future at all.

Prior to marry Diana he voluntarily paid 50% of the income in tax and then reduced that to 25% to cover the expenses he then had with a wife and children. Most of what he buys he also adds to the Royal Collection so that it will remain with the family and the nation but not be sellable - like most of the Duchy of Cornwall properties.

Why should anyone buy Harry a home when he is a multi-millionaire in his own right?

Most parents would expect their children, especially when they are as wealthy as Harry, to stand on their own two feet by the time they are in their mid-30s and support themselves but somehow Harry isn't expected to behave as a grown-up and have his father still support him and buy him a home.

Charles would also have to make sure that Camilla is taken care of in case she outlives him.

Harry can live rent free behind the walls of KP or he can lease a property from the Crown Estates like Andrew and Edward do. After the Sunninghill Park debacle, the days of gifting a large manor house probably are over.

 

[Queen Claude]

I am not so sure about that.

Remember he had to borrow money from the Queen and Queen Mum to pay Diana's divorce settlement and was basically bankrupt at that time because he gives so much to charity. He doesn't keep very much of the Duchy for the future at all.

Prior to marry Diana he voluntarily paid 50% of the income in tax and then reduced that to 25% to cover the expenses he then had with a wife and children. Most of what he buys he also adds to the Royal Collection so that it will remain with the family and the nation but not be sellable - like most of the Duchy of Cornwall properties.

Why should anyone buy Harry a home when he is a multi-millionaire in his own right?

Most parents would expect their children, especially when they are as wealthy as Harry, to stand on their own two feet by the time they are in their mid-30s and support themselves but somehow Harry isn't expected to behave as a grown-up and have his father still support him and buy him a home.

Most parents also give their children the flexibility to make their own way. Is Harry free to take a seven figure job as a brand ambassador for one of Richard Branson's Virgin products?

I don't know UK divorce laws but I can't imagine a soon to be ex-wife being awarded a divorce settlement of more than what the soon to be ex-husband is worth. In the US the typical generous divorce settlement is half of what was accumulated during the marriage. I suspect that Charles's real problem was lack of liquid assets and an unwillingness to liquidate assets and divest himself, and by extension the BRF, of historical assets.

I buy that Charles is generous and charitable, but I don't buy for one minute that Charles is not putting aside a good chunk of change from his Duchy of Cornwall income for investment / wealth accumulation.

 

[cepe]

Charles had/has very few assets to liquidate. All the properties we associate with him as owned by either the State, Duchy or HMQ (Birkhall)

He is not allowed to sell capital assets owned by the Duchy and take the money for his own purposes. He is only allowed access to the interest. In recent years he has taken pa c. £19m and used c.£11m for his charities.

I'm sure that he has used money over the years for trust funds but again probably tied up so that either the capital cannot be accessed, or not until a certain age (thinking of grandchildren here).

Harry doesn't own any assets at all apart from Trust funds.

 

[Curryong]

Each generation of Kings/Queens and their heirs have helped their offspring to either buy or lease property on a very long lease. I expect that Charles will help his younger son just as his own siblings were helped, and we are likely to see that when Harry decides to buy or lease a country property. I doubt that Charles will be bankrupting himself to do so.

 

[Queen Claude]

Charles had/has very few assets to liquidate. All the properties we associate with him as owned by either the State, Duchy or HMQ (Birkhall)

He is not allowed to sell capital assets owned by the Duchy and take the money for his own purposes. He is only allowed access to the interest. In recent years he has taken pa c. £19m and used c.£11m for his charities.

I'm sure that he has used money over the years for trust funds but again probably tied up so that either the capital cannot be accessed, or not until a certain age (thinking of grandchildren here).

Harry doesn't own any assets at all apart from Trust funds.

I am aware that Prince Charles does not have free use of the Duchy of Cornwall assets but Charles has been the Duke of Cornwall since 1952 and has been the beneficiary of Duchy income since he was three years old . I doubt if he started significantly tapping into his Duchy of Cornwall income until after he left the military in his late twenties, and the presumably wisely invested income from that 20 plus years alone was enough to make him quite wealthy.

As you stated Charles has probably put some of the money towards trust funds which means he has accumulated wealth/assets but either could not or would not tap into any trusts or other assets to fund his divorce settlement.

Charles would also have to make sure that Camilla is taken care of in case she outlives him.

Harry can live rent free behind the walls of KP or he can lease a property from the Crown Estates like Andrew and Edward do. After the Sunninghill Park debacle, the days of gifting a large manor house probably are over.

I think that Charles will provide for Camilla and her children but I think that his primary beneficiaries will be his two sons and possibly his grandchildren by them.

I think that it will be far worse optics having non-working royal grandchildren living on Crown Estate properties, which may end up being the case with the York princesses. Bear in mind the 75 year lease that Andrew got came about because he spent millions refurbishing the place. I guess if there is a Crown Estate property that Harry is totally in love with then I can see that happening, but if Harry has the millions, whether it is his own money, a gift from Charles, or a mix of the two, I lean towards him getting his own pile.

P.S.
What Crown Estate properties are possibilities? My understanding is that Fort Belvedere is occupied. Frogmore House? somewhere on the Hampton Court Palace property?

 

[Lady Nimue]

P.S. What Crown Estate properties are possibilities? My understanding is that Fort Belvedere is occupied. Frogmore House? somewhere on the Hampton Court Palace property?

Frogmore House. I am in love with it!

 

[Countessmeout]

Frogmore would be great.

He could also just be given a property on one of the estates. York cottage, if taken back from offices and rentals, converted back, would suit. There could be an agreement, writing or not, that it could be used by his children and so on as long as they wished to. Perhaps a 'lease' of sorts but within the family as it is on private land.

Harry isn't going to buy a place. Harry is not a millionaire in the normal sense. He cant use those funds, they are his income. If he uses his money to buy a house, he will have to rely on his dad and his brother later to support him. If a house is bought it will be bought by his family for him.

I think it possible that they will wait until Charles is king. So there is not the argument that the queen should have to buy all her grandchildren a home. When Charles is king, he will arrange a country home for Harry. By then Harry and Meghan will have a good idea of where they want one. And until then, live in London, and stay on the family estates on holiday simply.

As for Charles and his money.....yes he will take care of his sons but Camilla too. Camilla may not be their mother, but she will be his widow of a number of years when he dies. Its natural that he would see her taken care of financially. Perhaps his personal money could be placed into a trust, allowing Camilla considerable access in her life time. When she dies, the remaining trust be open to Harry and any grandchildren who aren't heir to the throne. kind of along the lines of what the queen mum did (not doing trust for William and Harry).

 

[jacqui24]

Unlikely to her a Crown Estate property. They have to be paid for privately by HM / the PoW. Probably much more economical to give him a home on land already owned by the Queen or the Duchy of Cornwall.

Harry is one of the royals that gets rent free accommodation for his London home. I believe an arrangement like Andrew's will be made for his country home as well if it's on the Crown Estate.

As for Charles and his money.....yes he will take care of his sons but Camilla too. Camilla may not be their mother, but she will be his widow of a number of years when he dies. Its natural that he would see her taken care of financially. Perhaps his personal money could be placed into a trust, allowing Camilla considerable access in her life time. When she dies, the remaining trust be open to Harry and any grandchildren who aren't heir to the throne. kind of along the lines of what the queen mum did (not doing trust for William and Harry).

I'm sure William, as monarch, would take care of Camilla during her lifetime if Charles passes before her. After all, she'd be Dowager Queen/Princess Consort. And I thought I read the Queen Mum did leave money to Harry?

 

[O-H Anglophile]

Harry isn't going to buy a place. Harry is not a millionaire in the normal sense. He cant use those funds, they are his income. If he uses his money to buy a house, he will have to rely on his dad and his brother later to support him. If a house is bought it will be bought by his family for him.

Exactly-he has to live off that money-he can't go into business or promote products to earn more money. He isn't going to spend it buying a grand estate with upkeep expenses.

I'm sure William, as monarch, would take care of Camilla during her lifetime if Charles passes before her. After all, she'd be Dowager Queen/Princess Consort. And I thought I read the Queen Mum did leave money to Harry?

I'm not sure Camilla will outlive Charles, so that may not be an issue. Although I'm sure there is a trust in place to care for her should it be necessary.

 

[jacqui24]

So should the Queen also provide homes for James, Louise, Beatrice, Eugenie and their children too?

They are free to choose whatever career they wish as non working royals. Harry is a working royal. Entirely different situation. Same as the fact that Harry does get rent free accommodations at KP, but the rest of HMQ's grandchildren, other than William, will not.

 

[muriel]

Harry is one of the royals that gets rent free accommodation for his London home. I believe an arrangement like Andrew's will be made for his country home as well if it's on the Crown Estate.

If a Crown Estate property is leased for Harry, it will need to be paid for, just as homes for Andrew (Sunninhjill amd Royal Lodge) and Edward were.

 

[Iluvbertie]

There have been repeated reports that Charles was virtually bankrupt after paying Diana's divorce settlement and even had to borrow money from both the Queen and Queen Mum to do so. That would presumably have had to be paid back which would suggest that he isn't all that cash rich.

Why would William have to take care of Camilla at all? Surely Charles will leave a sizeable amount of his estate to her which would also be death duties free once he becomes King.

He may even do what many husbands do and leave the entire estate to his wife - remembering that he has already paid a sizeable amount to his sons via Diana's divorce settlement.

What he will do we will never be told of course as royal wills are sealed so it is all mere speculation.

 

[Countessmeout]

If a Crown Estate property is leased for Harry, it will need to be paid for, just as homes for Andrew (Sunninhjill amd Royal Lodge) and Edward were.

Sunninghill was not a crown estate, it was privately owned. But yes, like Royal lodge or Bagshot, a royal lease would need to be paid.

 

[muriel]

Sunninghill was not a crown estate, it was privately owned. But yes, like Royal lodge or Bagshot, a royal lease would need to be paid.

The land for Sunninghill was acquired from the Crown Estate.

 

[Skippyboo]

They are free to choose whatever career they wish as non working royals. Harry is a working royal. Entirely different situation. Same as the fact that Harry does get rent free accommodations at KP, but the rest of HMQ's grandchildren, other than William, will not.

My asking about the other grandchildren is because of this previous post. Harry is a working royal so yes he should get appropriate royal housing but his line will not. He doesn’t need something to pass down his line. No one else other than Anne has that from the monarch. Buying Gatecombe for Anne and Mark made sense in 1976 because of their equestrian careers.

I don't think that the issue is denying Harry a Crown Estate property or not allowing him to live on the private estates at Sandringham or Balmoral, rather it is about setting up Harry to have something to leave to his line, and for that reason I see him getting his own Gatcomb Park gifted to him by Charles. It's anyone's guess where it will be but I suspect it will be Windsor/Berkshire, Gloucestershire or Norfolk

I do see him getting a substantial grace and favor London Home, not on the scale of Clarence House, but probably one of the better KP apartments. In this respect he is going to make out better than his aunt and uncles but he benefits from being part of a smaller pool of working royals in his generation, the only non-heir that Charles has to provide for, with that being amplified by the fact that Charles has likely accumulated considerable wealth during his decades as the Duke of Cornwall.

 

[jacqui24]

My asking about the other grandchildren is because of this previous post. Harry is a working royal so yes he should get appropriate royal housing but his line will not. He doesn’t need something to pass down his line. No one else other than Anne has that from the monarch. Buying Gatecombe for Anne and Mark made sense in 1976 because of their equestrian careers.

The Queen did also buy Sunninghill for Andrew. He just happen to sell it, so it's not really that the Queen didn't buy him something to pass down his line, it's his choice. Just like if something is bought for Harry giving him the option to pass it down, it's not like he can't ever sell it if that's the right decision at the time.

There have been repeated reports that Charles was virtually bankrupt after paying Diana's divorce settlement and even had to borrow money from both the Queen and Queen Mum to do so. That would presumably have had to be paid back which would suggest that he isn't all that cash rich.

Why would William have to take care of Camilla at all? Surely Charles will leave a sizeable amount of his estate to her which would also be death duties free once he becomes King.

He may even do what many husbands do and leave the entire estate to his wife - remembering that he has already paid a sizeable amount to his sons via Diana's divorce settlement.

What he will do we will never be told of course as royal wills are sealed so it is all mere speculation.

He won't be leaving his entire estate to Camilla. Balmoral and Sandringham is privately owned by monarch and is always passed down to the next monarch with the exception of Edward VIII. His divorce settlement has nothing to do with what he passes to his son. His divorce was an agreement with his then wife that's what was deserved for the earnings acquired throughout their marriage. Just like if Diana had lived and blew all of the money, Charles would still make sure Harry and his younger grandchildren are taken care of as his mother and grandmother have done for his siblings' children.

 

[Kitty1224]

Exactly-he has to live off that money-he can't go into business or promote products to earn more money. He isn't going to spend it buying a grand estate with upkeep expenses.

Also Harry is also a threat and has to be protected as well. Grandson of a monarch, son and brother of future monarchs too.