Buckingham Palace is the London residence and administrative headquarters of the monarch of the United Kingdom. The palace is often at the center of state occasions and royal hospitality. Originally known as Buckingham House, the building at the core of today's palace was a large townhouse built for the Duke of Buckingham in 1703 on a site that had been in private ownership for at least 150 years. It was acquired by King George III in 1761 as a private residence for Queen Charlotte and became known as The Queen's House. Buckingham Palace became the London residence of the British monarch on the accession of Queen Victoria in 1837.