Complex sentence: Johann Philipp Franz von Schönborn (1719--1724) moved the court to a palace erected in 1701-1704, the predecessor of the residence, but the rather small palace did not, in his opinion, measure up to his position as an absolute monarch.
Split into simpler sentences: Johann Philipp Franz von Schönborn (1719--1724) moved the court to a palace erected in 1701-1704, the predecessor of the Residence. But the rather small palace did not, in his opinion, measure up to his position as an absolute monarch.