"The fact that Buckingham Palace is the size of 830,000 square foot is the main reason that this property is valued at nearly 1 billion. That's the size of 13 football pitches! "
Spokesperson at UOWN says
Buckingham Palace may be one of the most expensive properties around the world valued at just under £1 billion but is that because of its location?
Property experts at UOWN value Buckingham Palace and Windsor castle based on their size and location...
The average price per square foot
Property values vary hugely across the UK with houses in Chelsea and Kensington worth £1,816 per square foot. This is high when comparing it to one of the more cheaper areas of the UK Burnley where you can buy property for just £78.30 per square foot.
So based on the sixe and location of Buckinham Palace and Windsor castle - how much are they worth?
What makes Buckingham palace worth nearly £1bn?
Buckingham Palace is located in Westminster, London, the 3rd most expensive area in the UK with property valued £1,098 per square foot.
As the royal palace is 830,000 square foot large (the approximate size of 13 football pitches) with 52 principle bedrooms, 188 staff bedrooms, and a whopping 78 bathrooms – the total value of being able to live like a royal comes to £911,340,000.
However, when comparing this to Windsor Castle, the Berkshire property is valued much less.
Why Windsor Castle is valued 5 times less than Buckingham Palace – despite having more bathrooms?
Soon Prince Harry and Megan Markle will be saying their vows inside the Queens residence of Windsor Castle.
Built in the 11th century - the property is notable for its long association with the English and later British royal family. It is known to be 484,000 sq ft in size with 12-14 principle bedrooms, 1,000+ other rooms in use, as well as 122 bathrooms. So what is its value today?
Windsor Castle has been valued by experts at £179.5 million – 5 times less than Buckingham Palace. Because of its location of Berkshire, property prices are currently at £371 per square foot making it much cheaper.
The full study can be found here where 5 other homes of the rich and famous have been valued: https://www.uown.co/learn-articles/homes-of-the-rich-and-famous