A beloved but rundown palace described as a village’s “greatest historical asset” has hit the market due to the spiraling cost of vital repairs.

The Archbishop’s Palace in Charing, near Ashford, was first mentioned in the Domesday Book and later became a favourite residence of King Henry VIII.

But after a crack was found in one of its walls almost 30 years ago, it has fallen into further disrepair ever since.

Now, it has hit the market for almost £1 million, after its owners revealed renovation costs have doubled in price.

A spokesman for The Spitalfields Trust, who took over the whole site in 2023, says the decision to sell it is in line with its business model and insisted it is “invested in securing the future” of the palace.

It added it is “keen to find a purchaser for the property who share our vision” with “a fully sympathetic attitude for such a unique offering”.

“[We] have spent the past year carefully evaluating the condition of the buildings and the nature and costs of repairs,” said a spokesman.

“Unfortunately, the results of this were double the previous cost estimates; a result of continued deterioration, a more detailed understanding of the buildings, and construction inflation.

“We have worked closely with Historic England and Ashford District Council to prioritise urgent works to stabilise and secure the barn, and these works are taking place on site now.

“We look forward to seeing the site come back to life, and to sharing our discoveries along the way.”

The trust will often sell buildings in order to fund its next heritage project and team up with new owners to help them take on the challenge.

Having already restored the gatehouse and adjoining cottage, Spitalfields says it has secured funding from the National Lottery Heritage Fund to better understand options and solutions beyond stabilisation of the barn at the site.

The palace was first mentioned in the Domesday Book, completed in 1086, and it was rebuilt in the 14th century.

It is one of a string of medieval palaces serving the archbishops travelling between Canterbury and London.

Henry VIII, who stayed there on his way to the historic Field of the Cloth of Gold summit with King Francis I of France, liked it so much he forced the archbishop to transfer it to him in 1545.

It remained in royal hands until Charles I sold it off, and it later became part of a working farm. But over the centuries its condition has deteriorated.

Listed for £975,000, the site includes the former Archbishop’s Palace – a country house with ground and two upper floors –, the barn (originally the Great Hall), former lodgings, stables and outbuildings, as well as a garden.

On a history page for the village, The Archbishop's Palace is listed as Charing's greatest historical asset.

In 2016, there were fears it could collapse due to the size of the growing crack, with residents fearing the historically significant building’s days could be numbered.

The parish council declined to comment, noting it would wait until a public meeting on March 21 before offering a stance of any kind.