Princess Beatrice is to move into an apartment on Queen Elizabeth’s St James’ Palace estate.

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The 19-year-old royal has been house hunting in London ahead of starting university in September but has now been offered the four-bedroom flat for a “peppercorn” rent.

The lavish home boasts three bathrooms, a huge dining room and large lounge.

A royal source said: “It’s beautiful and Beatrice will love it. It is right next to Clarence House so Prince Charles and Camilla will be immediate neighbours.”

A friend of Beatrice commented: “It makes perfect sense. Beatrice hopes to move in within weeks. Some decoration and alterations might be needed, but it should be ready.

“Obviously it will be nice for her to have a London base. She will also be able to make the most of the party and club scene.”

Beatrice currently lives with her divorced parents, Prince Andrew and Sarah Ferguson, at Royal Lodge, the late Queen Mother’s former home.