Buckingham Palace is the official London residence of the British monarch. Located in the City of Westminster, the palace is a setting for state occasions and royal hospitality. It has been a rallying point for the British people at times of national rejoicing and crisis. Originally known as Buckingham House, the building which forms the core of today's palace was a large townhouse built for the Duke of Buckingham in 1705 on a site which had been in private ownership for at least 150 years.