<P> On VE Day--8 May 1945--the palace was the centre of British celebrations . The King, Queen, Princess Elizabeth (the future Queen), and Princess Margaret appeared on the balcony, with the palace's blacked - out windows behind them, to the cheers from a vast crowd in the Mall . The damaged Palace was carefully restored after the War by John Mowlem & Co . It was designated a Grade I listed building in 1970 . </P> <P> Every year, some 50,000 invited guests are entertained at garden parties, receptions, audiences, and banquets . Three Garden Parties are held in the summer, usually in July . The Forecourt of Buckingham Palace is used for Changing of the Guard, a major ceremony and tourist attraction (daily from April to July; every other day in other months). </P> <P> The palace, like Windsor Castle, is owned by the reigning monarch in right of the Crown . It is not the monarch's personal property, unlike Sandringham House and Balmoral Castle . Many of the contents from Buckingham Palace, Windsor Castle, Kensington Palace, and St James's Palace are part of the Royal Collection, held in trust by the Sovereign; they can, on occasion, be viewed by the public at the Queen's Gallery, near the Royal Mews . Unlike the palace and the castle, the purpose - built gallery is open continually and displays a changing selection of items from the collection . It occupies the site of the chapel destroyed by an air raid in World War II . The palace's state rooms have been open to the public during August and September and on selected dates throughout the year since 1993 . The money raised in entry fees was originally put towards the rebuilding of Windsor Castle after the 1992 fire devastated many of its state rooms . In the year to 31 March 2017, 580,000 people visited the palace, and 154,000 visited the gallery . </P> <P> Her Majesty's Government is responsible for maintaining the palace in exchange for the profits made by the Crown Estate . In November 2015, the State Dining Room was closed for six months because its ceiling had become potentially dangerous . A 10 - year schedule of maintenance work, including new plumbing, wiring, boilers, and radiators, and the installation of solar panels on the roof, has been estimated to cost £ 369 million and was approved by the prime minister in November 2016 . It will be funded by a temporary increase in the Sovereign Grant paid from the income of the Crown Estate and is intended to extend the building's working life by at least 50 years . In March 2017, the House of Commons backed funding for the project by 464 votes to 56 . </P>

When was buckingham palace built and by whom