LONDON -- It's one of the biggest tourist attractions in the world, but beyond the gold painted gates and fine stone facade, Buckingham Palace is just like any other ageing building -- it's in need of some serious repairs.
The palace requires new plumbing, wiring and and hasn't been decorated in more than 60 years, BBC News reported Wednesday, with work estimated to cost £150 million ($236 million).
The property, Buckingham House, was originally acquired by George III in 1761. Eventually work took place to convert it from house to palace, doubling the the size of the main block of the building with Queen Victoria the first sovereign to take up residence in 1837.
The extensive palace, which is the Queen's official London residence, has 775 rooms, including 78 bathrooms, and is a base for some 800 staff members.
The Queen and Duke of Edinburgh may move to their weekend home Windsor Castle to get the repair work completed in one go, The Telegraph reports, with this being suggested as the most cost effective option.
News of the Buckingham Palace repairs come as the Crown Estate, an independent organisation that manages the Queen's property portfolio, announced that it returned a record £285 million to the taxpayer last year, which is an increase of 6.7% on 2014.