The national memorial to Queen Elizabeth II could cost £46,000,000, according to a provisional budget released before a design is chosen.
From today, artists, architects and engineers will compete to have their design selected for a monument commemorating the country’s longest reigning monarch.
It will stand in the heart of London, in the area of St James’s Park’s Blue Bridge, with views of the Queen’s former residence, Buckingham Palace, as well as Horse Guard Parade, Big Ben and the London Eye.
The late Queen’s former private secretary Lord Janvrin, chairman of the committee, said: ‘The memorial must be – simply – a beautiful place, somewhere to visit with family and friends, to enjoy and to reflect on an extraordinary life.’
The estimated cost is enough to pay the annual salary of more than 1,200 nurses or more than 1,400 teachers, or to build 300 new houses.
It excludes VAT but includes the estimated cost of replacing the low-arched concrete pedestrian bridge across the park’s lake.
Constructed in 1957, it replaced a 19th century iron suspension bridge built in place of architect John Nash’s Chinese wooden bridge with a central seven-storey pagoda in the centre.
That bridge once caught fire during royal firework festivities.
But the ultimate cost of the project could change, with the provisional budget intended as a guide for design teams submitting their proposals.
The Queen Elizabeth Memorial Committee will judge submissions against a value for money criteria, with the memorial paid for using public funds.
When complete, the ’emotionally powerful place’ will include a pathway down to the Grade-I listed parks lake, areas encouraging reflection, and a monument representing the Queen at Marlborough Gate.
The competition’s winner is expected to be announced next summer, after a two-stage competition. The first stage’s deadline is 2pm on January 20.
Lord Janvrin said: ‘We want to attract the finest teams of architects, artists, landscape architects, engineers and other specialists to work with us to create an outstanding design for the memorial site.
‘We are looking for teams who thoroughly understand and connect with our ambitions for the project.
‘The challenge at the second stage for the finalists will be to evoke memories of Queen Elizabeth II’s outstanding contribution to national life and to tell the story of Her Majesty’s long reign through an original masterplan that is sensitive to the unique setting.’
Despite the competition ending next year, the final design won’t be revealed until 2026 – what would have been the Queen’s 100th birthday year – following approval by the Prime Minister and the King.
Pat McFadden, Chancellor of the Duchy of Lancaster, said: ‘Queen Elizabeth II was our longest reigning monarch and Her Majesty dedicated her life to serving the people of the United Kingdom.
‘This national memorial will provide a permanent tribute to the late Queen’s legacy, offering space for reflection as well as celebration.
‘We want the very best architects and designers to come forward with their ideas for how this historic project should look.’
Queen’s memorial could cost £46,000,000 – and it hasn’t even been designed yet
Queen’s memorial could cost £46,000,000 – and it hasn’t even been designed yet