King Charles to reportedly spend £369 million on Buckingham Palace, here's what will change

King Charles is a King with no palace. The King and Queen Consort have been living in Clarence House and would remain there until 2027. As such, the King cannot live in the palace for another five years.

£369 million renovation

The royal residence renovation cost is taken from the public, that is, from taxpayers’ money. The current renovation that started in 2017 cost £47.8 million. According to My London, renovation is worth £31.6 million in 2020/2021.

It is expected to cost hundreds of pounds – approximately £369 million. Hence, King Charles will not be able to live in the palace for another five years. A source claimed:

Refurbishment is very far behind schedule but the Monarch should be living at Buckingham Palace.

It’s the heart of the monarchy in London, otherwise it risks becoming just a tourist attraction. We effectively have a king without a palace to live in.

Renovation details

According to the Royal website, there has been an urgent need to renovate the palace as the infrastructure has remained the same since the 1950s. The Palace’s electrical cabling, plumbing, and heating need urgent updates including the Palace boilers. The Royal UK website reads:

The Palace's electrical cabling, plumbing and heating have not been updated since the 1950s.

The building's infrastructure is in urgent need of a complete overhaul to prevent long-term damage to the building and its contents.

The most cost-effective way to replace these essential services, and to ensure that The Palace is fit for purpose for the next 50 years, is to undertake a phased programme of works over ten years.

Source Used

My London: Royal Family: Major changes King Charles is making to Buckingham Palace that will cost £369 million and mean he can't live there for 5 years