King Charles III and Queen Camilla will not take up residence in Buckingham Palace following the completion of a decade-long, $487 million (£369 million) refurbishment program. Royal officials confirmed the decision during a briefing on the Sovereign Grant and royal finances, marking a departure from nearly two centuries of tradition.
While the palace will remain the ceremonial and operational headquarters of the British monarchy, the King and Queen will continue to reside at Clarence House. James Chalmers, the senior royal official overseeing the King’s financial affairs, described the palace as the “crown jewel” of national buildings, noting that the decision aims to maximize public access to the historic site.
Modernizing the Monarchy
The move is part of King Charles III’s broader strategy to modernize the institution and increase transparency. By keeping the private living quarters separate from the primary site of state business, officials hope to host more events, expand tours, and increase the building’s utility for the public. Currently, the palace attracts approximately 700,000 visitors annually, a figure expected to rise as the building becomes more accessible.
The refurbishment, which began in 2017, was necessitated by aging infrastructure, including outdated wiring, lead pipes, and boiler systems that posed significant fire and water damage risks. The project is scheduled for completion in 2027.
Transparency and Financial Accountability
The announcement coincided with the release of the King’s tax details, revealing that he paid £12.9 million in income and capital gains taxes for the 2024-25 financial year, compared to £11.7 million the previous year. This voluntary disclosure is widely viewed as a signal of the King’s commitment to accountability, following public pressure regarding the transparency of royal finances.
This shift in living arrangements also reflects a practical approach for the King and Queen, both in their late 70s, who wish to avoid the logistical upheaval of relocating their staff and household. Historically, the last monarch to live away from Buckingham Palace was Queen Victoria, though her residence there became sporadic following the death of Prince Albert.
As the refurbishment nears conclusion, the Sovereign Grant—the taxpayer-funded mechanism supporting official duties—is expected to adjust, with the overall grant level projected to decrease from £137.9 million to £99.9 million by the 2027-28 period as the temporary uplift for construction expenses expires.