In honour of the Queen’s 90th birthday on 21st April, we decided to have a little bit of fun and look into the potential value of Buckingham Palace – and estimated it could be worth a huge £2.2 billion. Happy birthday, Your Majesty!
The most famous property in Britain and the official residence of our most celebrated citizen too, Buckingham Palace is arranged over five storeys and a colossal 828,821 square feet.
"Buckingham Palace could be worth £2,279,257,750 based on its size alone."
With a staggering 775 rooms and a façade stretching a whopping 108 metres, there’s plenty of space for a birthday party!
The current average price per square foot in Mayfair and St James’s sits between £2,500 and £3,000. So we’ve calculated that at a value of £2,750 per square foot, Buckingham Palace could be worth £2,279,257,750 based on its size alone.
And then of course there’s the decadently decorated interior, 40 acres of garden space and a number of luxury facilities, such as a doctor’s surgery and a swimming pool, which would undoubtedly raise the price even more if Her Majesty decided to sell up.
And what about Buckingham Palace's rental value?
However, now she’s approaching her 90s, perhaps the Queen is seeking a slower pace of life and a move to one of her country palaces is on the cards.
In this case, the estate would be looking for a new tenant…
But with accommodation this size and hundreds of staff members to look after the place, it wouldn’t come cheap.
Offering an indoor swimming pool, high-end fixtures and fittings, outside space and an exclusive address in Knightsbridge, we considered the rental value of this luxurious seven bedroom freehold house when calculating a figure for Buckingham Palace.
With this Knightsbridge property’s rental value of £16,500 per week in mind, we think the Queen could expect to achieve in the region of £565,000 per week for Buckingham Palace if she were to put it on the rental market.
"The Queen could expect to achieve in the region of £565,000 per week."
Or perhaps Her Majesty might opt for a short let option instead, while she’s holidaying in Balmoral or Sandringham.
In this case, those wanting to try out a Royal lifestyle could be looking at the truly majestic asking price of in excess of £1 million per week. Fit for a Queen!
Of course all of this is all just a little bit of fun and by no means represents the real value of Buckingham Palace - but where’s the harm in guessing!
If you think you have a property fit for royalty and would like a valuation please contact one of our experts here.