The King's nephew, 46, and his long-term girlfriend are understood to have ended their relationship a couple of months ago.
A friend of the couple tells us: "Peter and Lindsay made the difficult decision to separate as they were spending less time together, given work and family commitments.
"Peter's work in Formula 1 meant he has been away non-stop. He has been travelling all over the world and Lindsay is based in Scotland, so it's been hard for them to see each other.
"It obviously came as a shock, as most people thought they were absolutely rock-solid - it's very sad."
Peter's official spokesman declined to comment, saying it was a "private matter".
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