£935 million Buckingham Palace

02-09-2008 14:00

The London home of Britain's Queen Elizabeth, Buckingham Palace, has been valued at a staggering £935 million.

The new valuation from website Zoopla.co.uk makes the property - which boasts 52 bedrooms, a cinema, a swimming pool, staff quarters and 40 acres of land - the most expensive single family property in the UK.

The survey also reported the palace's value has fallen by £57 million in the last year, due to the credit crunch and lack of interest in the property market.

A spokesperson for the website said: "Everything has a price - even Buckingham Palace. And it shows that the royals might be shrewder investor than they are given credit for, given that Buckingham House was purchased for only £21,000 by George III in 1761."

Zoopla.co.uk also found Berkshire's Windsor Castle, one of Queen Elizabeth's other residences, is worth £180 million.

The valuation of Windsor Castle takes into account the £37 million which was spent to restore the property after it was damaged by fire in 1997.