It has been announced today that Buckingham Palace will undergo a 10-year ‘reservicing’ – a complete overhaul of the building’s infrastructure, including the electrical, heating and plumbing systems.
While the work is set to begin in April 2017, Buckingham Palace will remain occupied and fully operational during the process. The project will begin with the East Wing – overlooking the Mall – and then move from wing to wing. The West Wing and State rooms will be done several rooms at a time, so that the Palace tours can still take place during the summer.
Following a meeting of the Royal Trustees of the Sovereign Grant (comprised of the Prime Minister, the Chancellor of the Exchequer, and the Keeper of the Privy Purse), it was decided that the cost – expected to be £369 million – will be funded by a temporary increase to the Sovereign Grant. Since it’s inception, the Sovereign Grant has been set at 15% of the proceeds of the Crown Estate. For ten years, this will temporarily rise to 25% to cover the costs of the work at Buckingham Palace.