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17th century Flemish tapestries, and portraits of the Stuart Kings and Queens Only remaining original garden design by Percy Cane (1948) The oldest Royal Tennis Court in Britain, built for James V in 1539 About the property The only Royal Palace in the care of the National Trust for Scotland, Falkland Palace is an impressive Renaissance building set in the heart of the town at the foot of the Lomond Hills. Built by James IV and James V between 1450 and 1541 the Palace was a country residence of the Stuart monarchs of Scotland for over 200 years. Lush green lawns, colourful herbaceous borders and many unusual shrubs and trees complete the setting for this memorable property.