Buckingham Palace worth nearly £1 billion

Zoopla.co.uk has claimed that Buckingham Palace is worth £935 million.  It also believes Windsor Castle is worth £180 million.  Both these values are down on what they estimated last year.

 

Buckingham Palace sits on some of the most valuable land in London. It has a garden of 40 acres, and that alone would be enough for the value to be massive. Of course the palace itself has over 700 rooms including the 19 state rooms open to the public during the summer opening, as well as the 52 royal and guest bedrooms.

 

A spokesman for Zoopla points out that George III purchased Buckingham House for £21,000. It was originally purchased for his Queen, Queen Charlotte as a private residence. George IV planned to expand it, although it was still planned to be a private residence. After £800,000 had been spent on it by the time Queen Victoria to the throne, it became the principal residence of the monarch.

 

Because it is no longer a private residence, Buckingham Palace is actually owned by the taxpayer and managed on its behalf by The Queen.

 

The estimate of £180 million for Windsor Castle seems somewhat low. It cost around six million per room to restore the private and state apartments. To re-build the castle from scratch would therefore cost substantially more than £180 million.

 

To explore Buckingham Palace and Windsor Castle for yourself, you can purchase the Buckingham Palace and Windsor Castle Virtual Tours.

 

For more information on the story: Buckingham Palace valued at close to £1 billion