Monmouth School's 400th anniversary received a Royal seal of approval when Prince Edward opened its new state-of-the-art teaching block, named after its founding father William Jones.

His Royal Highness the Earl of Wessex's visit on Monday afternoon (17th March) came a day after Monmouth was named the third best place to live in Britain by The Sunday Times, with praise for its high achieving Haberdashers' Monmouth Schools' group.

Founded on the same Wyeside site it occupies today with a bequest from Wye Valley-born merchant William Jones in 1614, the Royal visit is part of a year-long series of events for the school, marking four centuries of educational excellence.

Prince Edward – a member of the Worshipful Company of Haberdashers which has administered the school from its beginnings through the William Jones's Foundation – unveiled a bronze bust of the founder in the new William Jones Building's foyer, sculpted by Roger Andrews, the artist who created the statue of Victoria Cross winner and former Welsh Rugby Union president Sir Tasker Watkins outside the Millennium Stadium.

The likeness is based on a 16th century portrait of the Newland benefactor, who made his wealth trading from Germany in linen and wool.

After taking lunch with Monmouth School headmaster Dr Steven Connors and other dignitaries, Prince Edward met Head of School Will England, deputies Toby Maltman, Wesley Nelson, and senior prefects Benjamin Butt, Morgan Gray and Rory Hammond before taking a tour of the new multi-million pound, four-storey teaching block, comprising 20 classrooms, a lecture theatre and offices.

Guided by Dr Connors through the new building – which includes high tech air regulation and temperature systems to maximise the learning environment, plus solar panels on the roof – Prince Edward talked to pupils and staff, and visited lessons in the religious studies, maths and English departments.

He saw pupils taking a lesson with Head of Religious Studies Rhiannon Wynne on Buddhist artefacts, sixth form students studying with Head of Maths Dr Huw Evans, and a class studying Shakespeare's Henry V – the royal son of Monmouth – with Head of English Mr Robert Picken.

Prince Edward also met Haberdashers, governors and representatives of the building architects Buttress Fuller Alsop Williams and contractors ISG.

Unveiling the plaque to officially open the William Jones Building, which is part of the school's Heart development project, and watched by the whole school, HRH said: "If I can congratulate you on 400 years as a school on this site, it's a terrific anniversary

"It's a great pleasure to be here and see this splendid new building."

Thanking the Prince, Dr Connors said: "Today we honour our founder William Jones by naming this magnificent building after him. The William Jones building by its name and its traditional exterior symbolises our great past, 400 years of achievement.

"And by its internal structures, with its state-of-the-art eco-friendly air and heating systems, including solar panels on the roof, it symbolises the future which makes this a magnificent teaching and learning environment."

Afterwards, Dr Connors added: "It was splendid to have the opening on the day after The Sunday Times listed Monmouth as the third best place to live in the UK."

Staff, pupils, governors and Haberdashers later attended a service in honour of William Jones in Newland church, the parish of his birth.

Today (Wednesday), on the exact anniversary of the day that King James I signed the school's Letters Patent in 1614, 1,500 pupils and staff were heading in a convoy of 32 coaches for a service of thanksgiving at St Paul's Cathedral in London, the historic place of worship of the Haberdashers.