The Kensington

Home , Kensington, Kensington High Street, Marylebone

t h e k e n s i n g t o n 1 t h e k e n s i n g t o n 2 t h e k e n s i n g t o n 3

INTRODUCTION

The Kensington is a residential-led mixed use development site in one of London’s most exclusive and valuable residential areas, situated directly opposite Holland Park.

Benefiting from detailed planning consent, The Kensington represents a rare opportunity for developers and investors to deliver a landmark scheme with critical mass and identity. Very few such consents remain available in RBKC today.

Delancey and Ares are inviting proposals for the freehold interest in the property.

CGI of the front facade of the consented scheme t h e k e n s i n g t o n 4

CONTENTS

05 13 22 EXECUTIVE ACCOMMODATION FLOOR SUMMARY SCHEDULE PLANS 07 14 36 LONDON - RESIDENTIAL DEVELOPMENT A GLOBAL CITY ACCOMMODATION TEAM 08 15 38 KENSINGTON PROPOSED PROFESSIONAL AREA RESIDENTIAL SPEC TEAM 11 20 39 SCHEME CINEMA & CONTACT SUMMARY COMMERCIAL 12 21 SCHEME TECHNICAL OVERVIEW OVERVIEW

CGI of a south- facing penthouse roof terrace t h e k e n s i n g t o n 5

EXECUTIVE SUMMARY

The Kensington is a 1.26 acre site in the Royal Borough of Kensington and Chelsea with a rare and valuable planning permission for a residential-led mixed use scheme.

When completed, The Kensington will provide over 122,646 sq ft (11,397 sq m) NSA of luxury residential accommodation, comprising 35 apartments, 8 houses and 37 underground parking spaces.

The development will also include two high quality cinema offerings, ancillary retail and office accommodation, along with 20 affordable housing apartments for the over 55s, located on adjacent self-contained sites.

The site is offered freehold with vacant possession.

CGI of residential entrance lobby t h e k e n s i n g t o n 6

Aerial view of London at dusk looking west across Tower Bridge t h e k e n s i n g t o n 7

LONDON – THE WORLD’S LEADING GLOBAL CITY

London is the global city of choice for investment, business, education and residential lifestyles.

st 1 10 YEARS 250+ £12bn London ranked top global city 2017 [1] London forecast to remain Europe’s largest London is home to over 250 foreign banks London's annual revenue from tourism - economy for the next ten years [2] with more American banks than New York 19 million visitors in 2017 make it the most visited city in the world

40% 80 4x TOP 500 of London is occupied by parks and gardens Nationalities bought residential property London’s technology sector attracts four London has more universities in the world’s making London the greenest capital city in in London in 2017 alone[3] times more venture capital than Paris [4] top 500 than any other city in the world the world

1. MORI Global Power City Index, Knight Frank City Wealth Index, ZYen Global Financial Centres Index. 2. Savills Global Flagship Publication. 3. Knight Frank and Savills. 4. Pitchbook. t h e k e n s i n g t o n 8

A404

THE ROYAL BOROUGH PADDINGTON LADBROKE GROE EAST ACTON TOTTENHAM OF KENSINGTON COURT ROAD OFORD A40 Marble Arch BOND CIRCUS MARBLE STREET AND CHELSEA ARCH BAYSWATER ROAD NOTTING ATER Berkeley BAYSW Kensington is one of the five globally recognised WHITE CITY HILL GATE Square Bond PICCADILLY luxury residential districts of London – alongside Street CIRCUS

Chelsea, Knightsbridge, Belgravia and Mayfair. WOOD LANE

HOLLAND PARK EMBANKMENT GREEN Kensington is renowned for its exceptional garden Kensington PARK squares and parks. The Kensington enjoys easy Palace SHEPHERDS Campden Hill access to two principal parks; Holland Park lies BUSH Tennis Club Heathrow immediately opposite the scheme and Kensingtoninternational airport Gardens just 450 metres to the east of the scheme. WESTMINSTER HYDE PARK CORNER GOLDHAWK ROAD HIGH STREET Big Ben The area benefits from an eclectic range of cafés, KENSINGTON The Albert Memorial Buckingham Palace restaurants and shops – both global brand outlets 4 A Houses of Design Parliament and local independent businesses. Museum KENSINGTON OLYMPIA V&A Museum The cultural identityTURNHAM of GREEN Kensington has been Science Harrod’s Olympia Museum London A4 ICTORIA enhanced further by the recent opening of the STAMFORD BROOK SOUTH Design Museum, opposite the site. KENSINGTON Luxury retail RAENSCOURT PARK STREET SLOANE EARLS COURT D A SLOANE SUARE World-renowned cultural attractions, including O M R Tate the Royal Albert Hall, the Natural History A Britain ULH WEST F Saatchi Museum and the Victoria & Albert Museum lie KENSINGTON Gallery within 2 kilometres of the site. Kings Road

PIMLICO

RIVER THAMES 0 A332 NINE ELMS

Chelsea FC Battersea Power Station D

B H R A T FULHAM BROADWAY T R T O E RS

SW E Gatwick A BR international airport AND I D W G E R

O A D t h e k e n s i n g t o n 9

THE CITY

WESTMINSTER

REGENT'S PARK MARYLEBONE MAYFAIR

BELGRAVIA HYDE PARK KNIGHTSBRIDGE PADDINGTON

NOTTING HILL

KENSINGTON

HOLLAND PARK t h e k e n s i n g t o n 10 t h e k e n s i n g t o n 11

SCHEME SUMMARY

The proposed development will comprise the following:

PRIVATE RESIDENTIAL RETAIL

35 apartments and 8 houses accessed from An A3 retail unit of 2,691 sq ft (250 sq m) Kensington High Street with a combined fronting Kensington High Street. NSA of 122,646 sq ft (11,397 sq m). Two retail (A1/A2 & D1) units totalling Exclusive spa, pool and leisure facilities 1,916 sq ft (178 sq m) fronting Earls for residents. Court Road.

37 secure underground residential OFFICE parking spaces. A self-contained office building of 3,261 sq ft CINEMA (303 sq m) NIA located on Earls Court Road.

Two separate cinemas offering a total of 7 AFFORDABLE HOUSING screens and 875 seats with a combined area of 47,868 sq ft (4,447 sq m) NIA: 20 affordable housing apartments for the over 55s with an NSA of 14,112 sq ft ——The Screening Rooms (3 screens) fronting (1,311 sq m). and accessed from Kensington High Street ——14 units located on Earls Court Road ——The Picturehouse (4 screens) fronting and accessed from Earls Court Road ——6 units located on Pembroke Place

CGI of a penthouse double-height living room t h e k e n s i n g t o n 12

KENSINGTON HIGH STREET HOLLAND PARK VEHICLE MAIN ACCESS SCHEME OVERVIEW RESIDENTIAL THE SCREENING ROOMS ENTRANCE & CAFÉ ENTRANCE BUILDING TOWN BUILDING ONE HOUSE THREE The site was granted full planning permission by the planning inspector in February 2016 (appeal ref: APP/ K5600/W/15/3010472, planning ref: PP/14/07276) and comprises the following optimised scheme: N W

BUILDING ONE BUILDING FOUR BUILDING TWO E —— —— Grand residents' entrance A self-contained office building GATE

——30 private lateral apartments and ——Entrance to The Picturehouse, a 4 screen 2 duplex penthouse apartments cinema (761 seats) at lower ground floors BUILDING ONE MEWS HOUSE BUILDING O VER 55s HOUSING ——Residents' pool, spa and gym THREE ENTRANCE & RETAIL UNIT TO CAR EDWARDES BUILDING FIVE PARK ——33 residential underground car

—— parking spaces 6 affordable housing apartments for EARLS the over 55s

SUARE MEWS BUILDING TWO HOUSE COURT TOWNHOUSES & MEWS HOUSES ——

Entrance to The Screening Rooms, a ROAD luxury 3 screen cinema (114 seats) at ——4 large townhouses and 2 medium SECON DARY RESIDENTIAL ENTRANCE lower ground floors townhouses all with rear gardens AND CAR D ROP - OFF POINT

——A café retail unit located at ground floor, ——2 mews-style houses with gardens TOWNHOUSES

integrated within The Screening Rooms BUILDING OFFICE BUILDING ——4 integrated underground car FOUR & PICTURE HOUSE ENTRANCE ——3 private lateral apartments accessed parking spaces from Building One

BUILDING THREE BUILDING FIVE ——2 retail units (A1/A2 & D1) located at ground floor O VER 55s HOUSING PEMBROKE PLACE ENTRANCE ——14 affordable housing apartments for the over 55s t h e k e n s i n g t o n 13

ACCOMMODATION SCHEDULE

Use UNITS NIA SQ M NIA SQ FT GIA SQ M GIA SQ FT Basement Level 2 Basement Level 1 Lower Ground 2 Floor Lower Ground Ground Floor Private Residential Apartments 35 7,889 84,886 10,038 108,049 1 Floor

Large Town Houses 4 2,541 27,352 2,743 29,526

Medium Town Houses 2 467 5,026 500 5,382

Mews Houses 2 500 5,382 519 5,587

Total 43 11,397 122,646 13,800 148,543

Residential Car Parking 37 - - 2,091 22,508

Residential Storage 23 122 1,313 323 3,477

Spa & Pool - 611 6,577 685 7,373 First Floor Second Floor Third Floor Fourth Floor Fifth Floor Retail 3 428 4,607 430 4,629 BUILDING TOWN BUILDING ONE HOUSE THREE Office 1 303 3,261 704 7,578

Over 55s Housing 20 1,311 14,112 2,037 21,926 N Cinema 7 4,447 47,868 5,049 54,347 W Grand Total - 18,619 200,415 25,119 270,381

Sixth Floor Seventh Floor Eighth Floor

■ Residential ■ Residential Entrance ■ Over 55s Affordable Housing ■ Retail ■ Offices ■ Cinema ■ Spa & Pool ■ Common Area / Services t h e k e n s i n g t o n 14

RESIDENTIAL ACCOMMODATION

The proposed residential unit mix and floor areas are set out below:

Apartments UNITS FLOOR AREA SIZE RANGE SQ FT (NSA) % %

Sq m (NSA) Sq ft (NSA) Min Average Max Units Area

1 Bed 3 195 2,097 699 699 699 7% 2%

2 Bed 7 975 10,492 1,270 1,499 1,808 16% 9%

3 Bed 18 4,133 44,469 1,883 2,471 2,851 42% 36%

4 Bed 5 1,588 17,089 3,067 3,418 3,917 12% 14%

5 Bed Penthouse 2 998 10,739 5,208 5,370 5,531 5% 9%

Apartments Total 35 7,889 84,886 699 2,530 5,531 81% 70%

Houses UNITS FLOOR AREA SIZE RANGE SQ FT (NSA) % %

Sq m (NSA) Sq ft (NSA) Min Average Max Units Area

Large Town House 4 2,541 27,352 5,770 6,838 8,224 9% 22%

Medium Town House 2 467 5,026 2,486 2,513 2,540 5% 4%

Mews House 2 500 5,382 2,648 2,691 2,734 5% 4%

Houses Total 8 3,508 37,760 2,486 4,720 8,224 19% 30%

Total 43 11,397 122,646 669 2,852 8,224 100% 100%

CGI of townhouses t h e k e n s i n g t o n 15

PROPOSED RESIDENTIAL SPECIFICATION

INTERIOR FINISHES HEATING AND COOLING

——Full height oversized timber entrance door ——Comfort cooling / heating to all reception to each apartment rooms and bedrooms

——High quality bronze door ironmongery ——Under floor heating to hallways, kitchens, bathrooms, shower rooms and cloakrooms ——Stone floor to entrance hall ——Heating and hot water from communal ——Engineered hardwood flooring to living system with metered water supply to room, dining room and kitchen all apartments ——Wool carpet to bedrooms

——Fitted wardrobes with cedar lining AUDIO VISUAL and shelving ——Home automation system incorporating home hub, ceiling speakers and touch LIGHTING screen control panels to the principal habitable rooms ——Programmable mood lighting in principal areas with recessed down lighting in ——System controlled lighting, security, secondary areas audio / visual and heating / cooling to the principal habitable rooms ——Feature lighting to bathroom and kitchen cabinets and interior of all cupboards

——All lighting programmable via the home automation system

CGI of a typical bedroom t h e k e n s i n g t o n 16

PROPOSED RESIDENTIAL SPECIFICATION

KITCHENS

——Bespoke high quality kitchens

——Marble work surfaces

——Recessed stainless steel double sink with chrome taps

——High quality integrated Miele or Gaggenau appliances

BATHROOMS

——Bespoke high quality bathrooms

——Marble top vanity unit and bath top

——Marble finished shower and tray

——High quality bath and shower fittings

——Heated towel rail and mirror

——Full height large format marble tiles on walls and floors

LEFT: CGI showing a master bathroom(3 bedroom)

RIGHT: CGI showing a kitchen (3 bedroom) t h e k e n s i n g t o n 17

CGI showing a penthouse terrace view looking east t h e k e n s i n g t o n 18

CGI showing a reception room (3 bedroom) t h e k e n s i n g t o n 19

CGI showing pool and spa facilities t h e k e n s i n g t o n 20

CINEMA, COMMERCIAL & OVER 55S AFFORDABLE HOUSING

CINEMAS – BUILDINGS TWO & FOUR

7 SCREENS (875 SEATS) | 4,447 SQ M | 47,868 SQ FT (NIA)

The Picturehouse, part of the Cineworld Group, remain committed to operating a new 7 screen cinema at The Kensington. These comprise two offerings: The Screening Rooms (accessed from Building Two) is a new exclusive cinema concept and The Picturehouse (accessed from Building Four) is the established luxury cinema brand already offered in similar high end locations across London.

RETAIL – BUILDINGS TWO & THREE

A3 (1 UNIT) | 250 SQ M | 2,691 SQ FT (NIA)

The café space is to be leased to the cinema operator. A1/2 & D1 (2 UNITS) | 178 SQ M | 1,916 SQ FT (NIA) Ability to deliver either one or two retail units, of which 88 sq m is to be allocated to a dentist (D1) use.

OFFICE – BUILDING FOUR

OFFICE | 303 SQ M | 3,261 SQ FT (NIA) A self-contained office will be located on Earls Court Road.

AFFORDABLE HOUSING – BUILDINGS THREE & FIVE

AFFORDABLE | 1,311 SQ M | 14,112 SQ FT (NSA)

As part of the planning obligations, 20 affordable housing apartments for the over 55s will be provided. 14 units are located in Building Three on Earls Court Road and six units are located in Building Five on Pembroke Place.

CGI showing indicative 'Sreening Rooms' foyer area t h e k e n s i n g t o n 21

TECHNICAL OVERVIEW

PLANNING HISTORY SECTION 106 AGREEMENT RIGHTS OF LIGHT

In 2007 planning permission was granted for a residential- The signed Section 106 Agreement requires financial and All injunctable positions held by the surrounding properties led mixed use scheme providing both cinema and residential non-financial obligations to be made in advance, during and have been negotiated and cleared. uses (ref: PP/07/01071). The consent was renewed in 2012 subsequent to the construction phase of the development.

(ref: PP/11/02498). This scheme provided a total of 187,002 The financial obligations total £392,300. GROUND SURVEYS sq ft (17,373 sq m) GIA of accommodation. A section 73 (ref: A copy of this agreement is available on the project data room. PP/15/01539) was approved in June 2015 to vary this permission Survey work undertaken has concluded that there are no major which was implemented in Q4 2015 by way of demolition works. sources of ground contamination within the site. COMMUNITY INFRASTRUCTURE LEVY (CIL) In October 2015 RBKC granted full planning permission at committee (ref: PP/15/0218) for a development totalling The implementation of the February 2016 appeal planning DEMOLITION AND VACANT POSSESSION permission (ref: APP/K5600/W/15/3010472) will give rise to 283,039 sq ft (26,295 sq m) GIA. This scheme provided for the The former Odeon cinema building has now been demolished estimated payments of £913,071 towards Mayoral CIL and main cinema entrance through the retained Neo-Grec façade (other than the front facade which is to be retained). and a single penthouse level. £5,749,576 towards local RBKC CIL. Both payments are subject to indexation. The whole site is offered with vacant possession. Full planning permission for the proposed development detailed herein, totalling 270,381 sq ft (25,119 sq m) GIA, was granted in February 2016 at appeal (ref: APP/ AFFORDABLE HOUSING VAT K5600/W/15/3010472 and PP/14/07276). This permission In addition to the 20 affordable housing apartments for the over The property has been elected for VAT. provides the main residential entrance through the retained 55s provided on site, a financial contribution of £7,019,467 is grand Neo-Grec façade and allows for two penthouse levels. required, subject to indexation. t h e k e n s i n g t o n 22

KENSINGTON HIGH STREET BASEMENT LEVEL 2