The King and Queen will no longer live in Buckingham Palace after the restoration.

Aging cables, lead pipes, wires and heaters are set to be replaced in the renovation, many of them for the first time in 60 years, after the risk of possible fire and water damage.

After the King and Queen married in 2005, they lived together at Clarence House, which is next to St James’s Palace and was once the home of the Queen Mother.

Now both in their late 70s, neither of them wanted the upheaval of moving themselves and their staff to Buckingham Palace.

There are also security concerns that if the monarch lives in Buckingham Palace, it will limit the number of visitors and the areas people can see.

The token can now be unlocked for a longer period of time, generating more revenue. It currently opens its state rooms to visitors every summer and on select dates throughout the rest of the year.

The King will continue to host a variety of events at the palace, from state banquets and gardens to receptions and audiences with the Prime Minister and new ambassadors.

A palace spokesman said: “Her Majesty has a great love for Buckingham Palace and a deep respect for the role it plays in royal and public life. “Otherwise, the royal movement would be a huge hive of activity.”