UK: What is the value of Queen's home, royal properties?
What's the story
The value of Queen Elizabeth ll's United Kingdom property portfolio has reportedly achieved new highs this year, crossing the £3 billion mark. The Queen's royal property portfolio, which includes castles, palaces, and luxurious lodges throughout England, Northern Ireland, Scotland, and Wales, is now estimated to be worth up to £3.7 billion, according to a study by the UK-based retirement property developer McCarthy Stone.
Context
Why does this story matter?
The study, conducted by the retirement real estate expert, revealed the prices of the Sovereign's royal residences as the UK gears up to celebrate the Queen's Platinum Jubilee in June. It estimates the costs of purchasing or renting these magnificent British landmarks. Buckingham Palace—the most iconic royal residence—is the most expensive property in the Queen's portfolio, valued at £1.3 billion, as per the study.
Top 5
Most valuable properties besides Buckingham Palace
The second most valuable property in Westminster is St. James's Palace, which costs an estimated £600M, followed by Windsor Castle which is worth £580M. Kensington Palace is in fourth place with a valuation of £558.2M. It houses multiple apartments, including one where Prince William and Kate reside—Apartment 1A. Clarence House, based in London, rounds out the top five with an estimated value of £298.3M.
Other properties
Estimated costs of other royal properties
In the sixth place is Hillsborough Castle valued at £70M. Despite its massive size, the Queen's beloved Balmoral Castle, Aberdeenshire, is estimated at only £60.3M to buy. Spread over 7,242 square meters, it does however overshadow other Scottish residences in terms of size. Sandringham House (£55.1M), Palace of Holyroodhouse (£55.1M), and The Royal Lodge (£35M) round up the top 10 most expensive properties.
Do you know?
Castle of Mey, former home of the Queen's mother
The Castle of Mey, which is located in Caithness on the northern coast of Scotland, is estimated at a value of £10M, making it one of the most affordable royal properties. Interestingly, this castle is the former home of Queen Elizabeth, the Queen Mother.
Rent
Rental costs of royal properties as per the study
Meanwhile, the study estimated if one were to rent Buckingham Palace, it would cost £2.6M/month, while Windsor House and St. James's Palace cost £1.7M/month. If the Queen was a regular landlord, she would reportedly be collecting £179,400/month rent from Prince William and Kate for their Kensington Palace apartment. However, Nottingham Cottage, a two-bedroom property on the Kensington Palace grounds, has the most reasonable rent—£7,900/month.
Affordable?
This royal property is available for £1,000/week
Moreover, many of Prince Charles's properties are open for public rentals as vacation homes. Carmarthenshire's Llwynywermod estate can be rented for as little as £1,000/week, allowing even royal fans to sample the royal lifestyle. "As we mark this special occasion nationwide, we wanted to highlight where the nearest royal residences can be found across the country," said Alastair Pegg, marketing director at McCarthy Stone.