Princess Beatrice spotted at high-profile fashion party merely hours before bombshell rent deal was revealed

Princess Beatrice was spotted at a high-profile fashion party this week, merely hours before a bombshell report revealed that she was living in royal accommodation rent-free.The 37-year-old attended an event for American fashion brand Alice + Olivia on Thursday evening.The daughter of Andrew Mountbatten-Windsor and Sarah Ferguson opted for a matching black dress and jacket combination, both embroidered with golden jewels and floral patterns.During the evening, she was photographed alongside American socialite and fashion designer Nicky Hilton, the 42-year-old older sister of Paris Hilton who is married to James Rothschild. TRENDING Stories Videos Your Say Emma Thynn, Marchioness of Bath, was also among the distinguished guests mingling with the princess, as was Stacey Bendet, the chief executive of Alice + Olivia.The New York fashion house, established in 2002, boasts an impressive clientele including the Duchess of Sussex, Beyoncé and Kourtney Kardashian, with its dresses commanding prices in the hundreds of pounds.But just hours after the event, the National Audit Office (NAO) report detailed how Beatrice and sister Eugenie had been living rent-free in royal accommodation for almost two decades.Neither princess undertakes official royal duties, yet both hold lease agreements, which involve residences inside St James's Palace and Kensington Palace, described as licences that are renewed annually.The report also detailed that both Beatrice and Eugenie were paying around 60 per cent of the open market value for their properties.For Beatrice, rent was paid at 60 per cent of the 2020 market value in both 2020 and 2021, before increasing to 68 per cent by 2026 following later valuation adjustments.For Eugenie, rent was set at 50 per cent of 2018 market value in 2020 and 2021, rising to 55 per cent in 2022, 60 per cent in 2023, 63 per cent in 2024, and reaching 64 per cent by 2026.Royal commentator Richard Fitzwilliams told GB News: “Current arrangements where Beatrice has the use of an apartment in St James's Palace and Eugenie Ivy Cottage in Kensington Palace may not be continued.LATEST ROYAL NEWSFirst royal wedding since Beatrice's 2020 ceremony set to be a 'private affair'King Charles issues tribute to Royal Navy helicopter crew killed in crashKing Charles left 'greatly saddened' by death of Lady Pamela Hicks“Non-working royals should not receive perks.”It is now understood that Beatrice and Eugenie's rent deals will be reviewed by the royal household.Royal sources have confirmed all such financial matters remain subject to ongoing assessment, according to The Times.Also revealed in the report was that Mr Mountbatten-Windsor was able to sublet three of eight cottages on the grounds of his former residence, Royal Lodge in Windsor.He continued receiving private rental income from these arrangements until April this year, months after losing his titles and being effectively removed from the estate amid his links to convicted paedophile Jeffrey Epstein.Palace sources maintain these cottages were let to staff members or their relatives at discounted rates intended to offset maintenance expenses rather than generate profit.However, the precise sums Mr Mountbatten-Windsor collected remain undisclosed, as the NAO did not request this information from him.Our Standards: The GB News Editorial Charter