Prince Andrew has been granted permission to sell his Lake Geneva chalet for £17.6 million to repay a debt to a US businessman.
A file photo of Prince Andrew and his daughters (L-R) Princess Beatrice, Princess Eugenie and Princess Eugenie with Prince Andrew’s former wife Sarah Ferguson
The Duke of York, 53, is also due to put several other properties on the market to raise the money, according to the Daily Telegraph.
Princess Eugenie’s parents are selling their London apartment at the Grove, where he had kept a fridge and a couple of TVs, it is believed.
The current deal for his chalet, called the Chedi, in Solvay, will see he and his wife Sarah, Duchess of York, use the money to pay off debts incurred by the US financier
The chalet was bought in 1990 for £6.4 million and was purchased as an investment property.
It is now expected to fetch a bid of more than £16 million after the duke sold the main residence he and Sarah owned, the Royal Lodge in Windsor Great Park, for £13.5 million in 2012.
Prince Andrew is expected to sell several other properties to raise money, according to the Daily Telegraph
The couple are looking to sell another property in Norfolk, The Manor, for £10 million and one in Holland Park, for £5 million.
The home in Belgravia is now expected to sell for £14 million – £10 million less than when it was last sold in 2002.
They have not been able to sell The Mulberry Lane house in Holland Park, London, which is currently owned by Misha Nonoo, a socialite who is friends with Prince Harry.
The couple also have a rental property on the Palace grounds that they bought in 2011 for £4.6 million.