Credit crunch - HM Queen loses £57 million
Discussion
You have to feel sorry for her.....
"The Queen's official London residence was estimated to be worth £935 million by home valuation site Zoopla.co.uk, making it the UK's most expensive family property.
But the price tag is hardly surprising when you consider that the palace has 775 rooms, including 19 State rooms, 52 Royal and guest bedrooms, 188 staff bedrooms, 92 offices and 78 bathrooms.
It also has a cinema, swimming pool, 40 acres of land and it's very own post office.
A Zoopla spokesman said: "Everything has a price, even Buckingham Palace.
"And it shows that the Royals might be shrewder investors than they are given credit for, given that Buckingham House - as it was known then - was reportedly purchased for only £21,000 by George III in 1761. He was clearly the Sarah Beeny property developer of his time."
The Queen's weekend retreat, Windsor Castle, has also been valued for the first time at £180 million. The figure takes into account the £37 million spent on restoration following the 1997 fire.
However, it seems that Royals do have something in common with other British property owners, and are not immune to the fall in the housing market.
Zoopla has estimated that Buckingham Palace has fallen in value by £57 million in the last 12 months, meaning it would have been worth £992 million.
Windsor Castle fared only slightly better with a drop in value of £8 million since last summer.
Alex Chesterman, CEO of zoopla.co.uk, said: "As a nation obsessed with both property values and the Royal family, it's certainly interesting to know what it might cost to live the life of a Royal."
"The Queen's official London residence was estimated to be worth £935 million by home valuation site Zoopla.co.uk, making it the UK's most expensive family property.
But the price tag is hardly surprising when you consider that the palace has 775 rooms, including 19 State rooms, 52 Royal and guest bedrooms, 188 staff bedrooms, 92 offices and 78 bathrooms.
It also has a cinema, swimming pool, 40 acres of land and it's very own post office.
A Zoopla spokesman said: "Everything has a price, even Buckingham Palace.
"And it shows that the Royals might be shrewder investors than they are given credit for, given that Buckingham House - as it was known then - was reportedly purchased for only £21,000 by George III in 1761. He was clearly the Sarah Beeny property developer of his time."
The Queen's weekend retreat, Windsor Castle, has also been valued for the first time at £180 million. The figure takes into account the £37 million spent on restoration following the 1997 fire.
However, it seems that Royals do have something in common with other British property owners, and are not immune to the fall in the housing market.
Zoopla has estimated that Buckingham Palace has fallen in value by £57 million in the last 12 months, meaning it would have been worth £992 million.
Windsor Castle fared only slightly better with a drop in value of £8 million since last summer.
Alex Chesterman, CEO of zoopla.co.uk, said: "As a nation obsessed with both property values and the Royal family, it's certainly interesting to know what it might cost to live the life of a Royal."
BlackMagic *tree said:
Why does it matter what it is worth as noone is ever going to buy it?
And who values it? Where's the comparable?
Quite. It's like trying to work out what the Queen could charge per hour to give hand jobs. And who values it? Where's the comparable?
*it is used to denote Buckingham Palace
It's just pointless stunt journalism.
I'd pay her £50
BlackMagic *tree said:
Why does it matter what it is worth as noone is ever going to buy it?
And who values it? Where's the comparable?
It can be valued by estate agents at local area per square foot prices- there is no complexity in that.And who values it? Where's the comparable?
*it is used to denote Buckingham Palace
Who would buy it?- David Beckham , perhaps, or maybe the Spanish , since they own our airports and banks
Edited by tali1 on Tuesday 2nd September 23:54
Gassing Station | The Pie & Piston Archive | Top of Page | What's New | My Stuff