Peter Richard Monkhouse (no relation to George Monkhouse) was born in Beaconsfield, Buckinghamshire. He started the Monaco Motor and Engineering Co. Ltd. in Watford with Ian Connell in 1935 and co-drove with Connell in ERA R6B in the 1938 Donington GP finishing 8th. He also drove in the XVII RAC International Tourist Trophy finishing 19th with J. R. 'Hamish' Weir in his MG Magnette K3.
DNF at Le Mans in 1946 with Ernest Stapleton in the 2.0L Aston Martin Speed Model.
The 1947 Jersey International Road Race took place on 8th May and was the first significant British post-war motor race, and the first with continental participation.
At the I Coupe des Petites Cylindrées on 6 July 1947 at Reims he came 6th in Hamish Weir's venerable MG K3. He also set the fastest lap at 3m15.8. Then at the Coupe de Lyon on the 29th September he finished 5th again in MG K3 Magnette.
He died in the XXVII Mille Miglia in a Healey Silverstone (D 37). Phillip Wood was driving at the time when he crashed at the same spot as Prince Raimondo Lanzia's Cisitalia. HIs car somersaulted into a field and Monkhouse sustained severe head injuries. He died in hospital later that afternoon. Wood suffered a broken leg.