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NEWS > BUSINESS > QUEEN TO START LEASING PALACES TO DRUM UP A LITTLE EXTRA CASH
QUEEN TO START LEASING PALACES TO DRUM UP A LITTLE EXTRA CASH
November 15 2011
London, U.K. – Everyone knows that these are tough economic times. Certainly not the worst the world has ever seen, but also far from the best. Throughout most of the world real uncertainty is still very much an issue, well beyond people making 
mortgage payments or being able to afford another cruise this year. There are concerns, grave concerns, that the economic system we have created is on the verge of some kind of collapse.
Those nightmare scenarios are, admittedly, unlikely at least on the extreme end. While a lot of people have felt a great deal of pressure and will continue to do so, there is no indication that all the wealth all over the world will suddenly evaporate, throwing us back to the Stone Age.
Some, though, are hedging their bets and trying to build up a little extra equity just in case the worst does happen, including the Queen of England. Elizabeth II has apparently given consent to lease out at least one of the Royal palaces for next year’s Olympic Games, a tiny step in what man Royal officials will be the start of a more aggressive exploitation of the many properties the Windsor family holds, and potentially shoring up the long term financial future of family. 
“The Palace is exploiting its historical heritage and its prime location. Officials have already begun contacting firms and charities who they think might be interested in using the Palace. They are targeting organisations who have an existing link with the Royal Household and that includes those who have Royal Warrants,” said a spokesperson for Buckingham Palace, which will not be rented out.
The Queen herself will not be a part of the search for potential tenants, but has apparently insisted on a reference and credit check for any potential applicants.
The first location to go up for lease will be St. James Palace, at a rate of £30,000 a day. The less desirable Leeds Castle will be offered at £1 million for the entire Olympic Games.
The Queen is said to prefer a couple or small family. No pets and no smoking allowed.
“This is certainly different for the Queen but is probably a good idea. They spend a lot of money staffing these locations already and for the most part they go unlived in. This way they will be able to pay down the cost of maintaining the locations and possibly make a small profit as well,” said Scrape TV Business analyst Ken Green. “Frankly, they should be splitting up the location, perhaps
finishing the basement and renting that out separately. You charge less per client but the more people you can get in the better, as long as you get the right people of course.”
It’s not clear what will happen if the Queen suddenly decides she wants to stay in one of those palaces on a whim, which she is wont to do.
If a success, the Royal family will likely open up more palaces for short or long term stays, again depending on reference checks.
William Ashford, Business Correspondent
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