King Charles III Rules Out Move to Buckingham Palace After £369 Million Revamp

King Charles III and Queen Camilla will not move into Buckingham Palace after the completion of its 10-year, £369 million (USD 487 million) refurbishment , opting instead to continue living at nearby Clarence House while using the palace as the monarchy's ceremonial and administrative headquarters.

Royal officials said Buckingham Palace will remain the "ceremonial and operational centre" of the monarchy but will welcome greater public access through expanded tours, exhibitions and official events. The extensive restoration project, launched in 2017 to modernise ageing plumbing, electrical systems and heating, is expected to conclude next year.

The announcement came during the royal family's annual financial briefing, where King Charles became the first reigning British monarch to publicly disclose his personal tax payments . The King paid £12.9 million in income and capital gains taxes during the 2024-25 financial year , up from £11.7 million a year earlier. Prince William also released his tax details, paying £7.76 million .

The moves are widely viewed as part of the monarchy's efforts to modernise its image and increase transparency amid renewed scrutiny over Prince Andrew's association with convicted sex offender Jeffrey Epstein . While the King was not legally required to reveal his tax affairs, officials said the decision reflects a commitment to greater public accountability.

Built in the 1820s , Buckingham Palace has served as the London residence of British monarchs since Queen Victoria . By keeping the palace primarily for official functions rather than as a private residence, the royal household hopes to make one of Britain's most iconic landmarks more accessible to visitors while preserving its role at the heart of the monarchy.