London: Royal officials say Queen Elizabeth II may have to move out of Buckingham Palace during much-needed renovations to the residence, which has not been redecorated since she took the throne in 1952.
Officials say the palace needs an estimated 150 million pounds ($237 million) of upgrades, including replacing old plumbing and wiring and removing asbestos.
The queen spends about a third of her time in the London palace, first used by her ancestor Queen Victoria.
Keeper of the Privy Purse Alan Reid said maintenance on aging royal buildings, "and in particular Buckingham Palace, will present a significant financial challenge" in the next few years.
Annual accounts published Wednesday showed that the monarchy cost taxpayers 35.7 million pounds in the year to March 31, the equivalent of 56 pence per person.
