KENSINGTON T HE OPPORTUNITY

• The property has served as the Kingdom of Netherlands • Located close to the royal residence • A proposed scheme provides a net residential sales area Embassy since 1953 and offers the potential to redevelop Palace and the occupants of Gardens, of 6,800 sq m (73,195 sq ft) over 18 private residential to provide an internationally significant super prime central recognised as ’s most exclusive address. apartments with enviable lateral accommodation (subject London residential development (subject to planning). to planning). • A generous 0.47 acre (0.19 hectare) site with extensive • A super prime residential development panoramic views over and Hyde Park, • A proposed scheme delivers exclusive concierge and opportunity (subject to planning) in the Royal Borough of two of the 8 Royal Parks of London. security services with 18 secure basement car parking Kensington and Chelsea located adjacent to Kensington spaces, gym, swimming pool and spa. Gardens. • An extremely rare opportunity to acquire a landmark freehold in Kensington bordering , home to London’s most exclusive residential and business addresses and globally renowned retail destination. T HE LOCATION

THE BOROUGH IS HOME TO MANY MUSEUMS, GALLERIES, EXHIBITIONS AND OTHER CULTURAL AND ARTISTIC INSTITUTIONS AND VENUES. THERE ARE THREE MAJOR NATIONAL MUSEUMS LOCATED IN ; THE SCIENCE MUSEUM, THE NATURAL HISTORY MUSEUM AND THE VICTORIA AND ALBERT MUSEUM.

Prime Development Opportunity T HE LOCATION

The propety is located in the exclusive Royal Borough of Kensington and Chelsea. The area is bound by and to the North; by Brompton and Knightsbridge to the East; by Chelsea and Earls Court to the South and Hammersmith to the West.

The area has historically been home to London’s social elite, and the principle landowners of the Duke of Westminster and the Earl of Cadogan retain control over much of areas such as Knightsbridge, leading to an exceptional and unrivalled local environment. The borough is also home to major international businesses which are attracted to the area by the ease of access to the West End, City and Canary Wharf.

From a retail perspective, Knightsbridge to the East is defined in the London Plan as one of the 2 International Centres in London identifying the area as a globally renowned retail destination with enviable public transport accessibility. Due to this flagship stores such as and are located here, and the luxury global fashion designers such as Jimmy Choo, Bvlgari, Gucci and Roberto Cavalli have located stores here.

The Royal Borough of Kensington and Chelsea is home to London’s most iconic super prime residential developments with the world famous Candy and Candy One Hyde Park scheme, the Squire and Partners designed The Knightsbridge, and the De Vere Estates De Vere Gardens Scheme. L OCATION M AP

A4204 Kensington Gardens Hyde Park

igh St on H 38 ngt nsi Ke A315 Knightsbridge Knightsbridge 0 1 3 High St B Kensington Queen’s Gate

A4 A3216

Pont St

Marloes Rd

B319 C

h

e

s

h B Sloane St a

r

o m

m Cromwell Rd S 18 p t 32 t A4 A o n

Queen’s Gate A3217

Cromwell Rd R d Gloucester Rd South Kensington

A 3 Sloane Ave 2 2 0 Earl’s Court Old Brompton Rd

A3216

Draycott Pl Fulham Rd A ERIAL M AP

BOND STREET MAYFAIR MANDARIN ORIENTAL HARVEY NICHOLS SLOANE SQUARE HYDE PARK SERPENTINE ONE HYDE PARK HARRODS

ROYAL ALBERT HALL NATURAL HISTORY MUSEUM

38

KENSINGTON GARDENS C ONNECTIVITY

LONDON’S TRANSPORT SYSTEM IS WORLD RENOWNED FOR IT’S CULTURAL AND HISTORICAL HERITAGE. ALTHOUGH RETIRED FROM WIDE SCALE USE IN LONDON THE QUINTESSENTIALLY ENGLISH DOUBLE DECKER ROUTEMASTER ENDURES, WITH VEHICLES IN USE IN COUNTRIES SUCH AS CHINA, MALAYSIA AND CANADA AMONGST OTHERS. LONDON IS ALSO PROUD TO HAVE HAD THE FIRST, URBAN UNDERGROUND RAILWAY IN THE WORLD WHICH HAS GROWN AND DEVELOPED INTO THE ICONIC LONDON UNDERGROUND SYSTEM.

Prime Development Opportunity C ONNECTIVITY

Kensington benefits from excellent transport links providing easy access to the West End, City and Canary Wharf via the London Underground (District and Circle lines) at High Street Kensington station within 10 minutes walk of the property.

Transport links will be further improved across central London by Crossrail from 2018 onwards, providing enhanced journey times between , the West End, the WEST END City and Canary Wharf. 9 mins CANARY WHARF International travel is provided by Heathrow Airport which is 26 mins less than 30 minutes drive to the west. 38 CITY AIRPORT CENTRAL 33 mins Location Distance Tr a v e l T i m e LONDON HEATHROW 29 mins West End 2.2 Miles 9 Minutes (3.5 Kilometres) City 4.5 Miles 18 Minutes (7.2 Kilometres) Canary Wharf 7.6 Miles 26 Minutes (12.2 Kilometres)

GATWICK 57 mins Location Distance Tr a v e l T i m e

Heathrow Airport 15.1 Miles 29 Minutes ( Kilometres) 11 Miles 33 Minutes ( Kilometres) Gatwick Airport 36.3 Miles 57 Minutes ( Kilometres) T HE S ITE

38 HYDE PARK GATE OVERLOOKS KENSINGTON GARDENS AND HYDE PARK WHICH ARE TWO OF THE EIGHT ROYAL PARKS OF LONDON. THESE PARKS COMBINE TO MAKE UP ALMOST 620 ACRES OF OPEN SPACE IN THE HEART OF LONDON.

Prime Development Opportunity 38 Hyde Park Gate London SW7 5DP

T HE S ITE

The property is registered under Title No 454532. A copy of the Title Register and Title Plan is available on the data room.

S helter The freehold site extends to 0.47 acres (0.19 hectares) and is bounded by Hyde Park Gate to the North and West. To the South the property adjoins 39 Hyde Park Gate. The HYD E PA Shelter site has extensive views across Hyde Park to the North. RK GA KENS TE INGTON R 14.1m OAD

14.5m Shelter The immediate area is predominantly residential in character, with a number of luxury

residential homes and high profile apartment schemes.

a 4 5

3 5 4 a

3 5 5 The site benefits from vehicular ingress & egress for a gated drive offering private 2 5

Broadwalk House

6 secure parking, this can be accessed from both Kensington Gore and Hyde Park Gate.

7 3 5 t o 8

8

3

6 2 o t 1

E

T

A

G

K

R

A

P

E

D

9 H

Y

Y

H

D

E

P

A

R

a 5

K 3

G

A

T

E

3 9

8 4

3 6 E C A L 9 P 4

RESTON 1 3

8

4

1

6

HYDE PARK EWS GATE M 1

t

o

1 4

2

0

0 3

C

h

a

n

c

e

l

l

o 1

4 r

H t

o

o 0m 10m 20m 30m 2 u H 4 YD TE s

E PARK GA e

5 9

4 4 2 2

Ordnance Survey © Crown Copyright 2014. All rights reserved. Licence number 100022432. Plotted Scale - 1:1250

This plan is published for convenience of identification. Any site boundaries shown are indicative only and should be checked against Title Deeds.

ES753998 T HE S ITE

THE EXISTING PROPERTY

38 Hyde Park Gate was originally built as a red brick mansion block around the start of the twentieth century in the Queen Anne style.

The property extends to 6,997.9 sq m (75,235 sq ft) GIA arranged over basement, ground and 6 upper floors as detailed in the schedule:

Floor Sq m Sq Ft

Seventh 201.3 2,167 Sixth 602.9 6,490 Fifth 800.4 8,615 Fourth 861.6 9,274 Third 878.4 9,455 Second 878.7 9,458 First 872.7 9,394 Ground 950.8 10,234 Basement 951.1 10,238

Total 6,997.9 75,235

P LANNING

THE ROYAL BOROUGH OF KENSINGTON & CHELSEA HAS 35 CONSERVATION AREAS WHICH COVERS OVER 70% OF ITS AREA. IT ALSO HAS SOME 3,800 BUILDINGS LISTED FOR THEIR SPECIAL ARCHITECTURAL OR HISTORICAL IMPORTANCE.

Prime Development Opportunity P LANNING

DP9 have provided a planning report which considers the potential in planning terms for alternative uses on the site, including conversion and redevelopment of the existing building. The key conclusions of the report include:

• Personal planning permission was granted in March 1953 for use of the basement, ground, first, second and third floors for the purposes of the Royal Netherlands Embassy and Consulate. The upper floors have not been the subject of a change of use and are believed to have remained in lawful residential use since the buildings original construction.

• The site is the subject of the following designations on the Core Strategy Proposal Map: - The site falls within the Queensgate Conservation Area; - The site is within the Air Quality Management Area; and - The site is designated as an Area of Metropolitan Importance.

• The building is not listed.

• There is no policy contained in the Core Strategy or UDP which resists the loss of Embassies. However, the supporting text of saved UDP Policy E29 states that where diplomatic use ceases in a building which was formerly in residential use the Council will require its return to full residential use unless re-occupied by another diplomatic user. RBKC’s priority on vacation of the Embassy will be for the building to be converted to residential.

• The site benefits from good transport accessibility (PTAL 5) and would be suitable to high trip generating uses. Therefore whilst RBKC would seek the building to be converted to residential, there may be potential for the site to accommodate office and/or hotel uses.

• The current building on the site can be considered to have a positive impact on the character and appearance of the Conservation Area. For its demolition to be acceptable, a replacement building would need to be of the highest architectural quality. There is the potential for the facades of the building to be retained with new construction behind. DEVELOPMENT

Paul Davis & Partners have been instructed to create a residential scheme based on a redevelopment of the existing building. The design demonstrates an exciting potential scheme that retains the attractive existing façade of 38 Hyde Park Gate (subject to planning). The design was produced after a Rights of Light study was undertaken by GVA Schatunowski Brooks in order to ascertain the development potential for any proposed scheme.

The building envelope produced (available in the dataroom) demonstrates the potential to maximise the roof elements as well as the Western elevation of the building. A visual structural survey undertaken by the Waterman Group and a measured survey provided by Plowman Craven were both considered during the design process.

The proposed scheme delivers:

• 18 generously apportioned apartments offering enviable lateral accommodation • Apartments on floors 1-7 all include generous external space with wonderful views over Kensington Gardens and Hyde Park • Luxury residents spa & gym • 2 residents lifts & 1 service lift • Underground car parking with 18 spaces • Exclusive front courtyard for concierge assisted drop off services F LOOR P LANS

Bike Store 59m2

Plant

Car Stacker Lift 92m2 t Storage

55m2 Car Stacker Lift enan T

En-suite 13m2

Bedroom 53m2 e 2 1m 1 En-suit r r level

pe WC Stacke Reception r ars Gym 5m2 46m2 c Ca 165m2 18

Enlarged lightwell Hall 17m2

Kitchen/ Dining 30m2 Bathroom 9m2

Hall Hall Kitchen 20m2 Circulation 49m2 14m2 13m2

Enlarged lightwell

Bathroom 8m2 Proposed Basement Plan

35m2 Bedroom Bedroom Reception Reception 28m2 22m2 40m2 Kitchen 8m2 e Changing 52m2 Stor 10m2

New terrace Pool New terrace PROPOSED BASEMENT PLAN

Swimming Pool 251m2

Spa Pool Proposed Lower Ground Floor Plan

Prime Development Opportunity PROPOSED LOWER GROUND FLOOR PLAN F LOOR P LANS

En-suite Dressing 8m2 9m2 Service/ escape

En-suite En-suite 12m2 12m2 Bedroom 1 En-suite En-suite 52m2 Lobby e

2 14m2 14m2 16m2

8m Car Stacker Lift Bedroom 1

En-suit Bedroom 1 52m2 52m2

Lobby Dressing Dressing Lobby 8m2 6m2 6m2 8m2 Dressing Dressing 9m2 9m2 Wine Bedroom 3 Bedroom 1 Cellar 31m2 33m2 Dressing Dressing 6m2 Wine 9m2 9m2 Cellar Bedroom 3 En-suite 11m2 En-suite 31m2 Bedroom 3 9m2 9m2 33m2 Wine Wine Utility Cellar 6m2 Cellar En-suite 11m2 11m2 En-suite 9m2 9m2 En-suite En-suite 9m2 Clk4m2 9m2 Bedroom 2 Bedroom 2 Utility 32m2 En-suite En-suite Utility 31m2 WC 4m2 15m2 9m2 Utility 9m2 11m2 11m2 Dressing Dressing 9m2 9m2 Bedroom 2 Bedroom 2 31m2 31m2

Dressing Dressing WC 9m2 9m2 Study/ 4m2 Library Study/ 15m2 Library 15m2 WC WC Cloak Study/ 4m2 4m2 4m2 Library Study 15m2 12m2 Cloak Cloak 4m2 4m2 Reception Hall Entrance Hall Hall Reception 84m2 20m2 43m2 20m2 71m2

Lobby Lobby Hall Reception Hall 7m2 7m2 9m2 84m2 9m2 New Balcony

Reception 1 Dining Kitchen Kitchen Dining 79m2 20m2 14m2 14m2 16m2

Kitchen Dining Dining Kitchen 16m2 20m2 36m2 23m2

Porch

Balcony Balcony Balcony Balcony

Proposed 1st-5th Floor Plans Plant Access

Drop-off

H Y D E P A R K G A T E 2x parking spaces t b Exi er

drop k drop PROPOSED 1st-5th FLOOR PLANS new service road & landscaping

Existing tree

Gatehouse

1100lit 1100lit 1100lit eurobin eurobin eurobin

Existing tree recycling & refuse

Meters

1100lit 1100lit Existing vehicular entrance eurobin 1100lit eurobin eurobin

Proposed Ground Floor Plan Prime Development PROPOSED GROUND FLOOR PLAN Opportunity F LOOR P LANS

Bedroom 1 Bedroom 3 38m2 e Dressing Dressing e 34m2

13m2 13m2 errac T errac T

Bedroom 1 Bedroom 1 e 35m2 28m2 errac T e e

2 2 En-suite 13m2 1m 1m 1 1 En-suite En-suit En-suit Dressing 7m2 9m2 e e Bedroom 2 Bedroom 2 32m2 25m2 Utility errac

errac 13m2 T T En-suite Dressing 9m2 12m2 Wine Wine Cellar Cellar 11m2 11m2

En-suite e e 2 e 10m2 2 En-suite Kitchen 9m 10m2 8m 23m2 e En-suit En-suit errac Bedroom 3 T 26m2 errac Utility Utility T 11m2 11m2 e e Bedroom 3 Bedroom 3 errac errac

31m2 25m2 T T

WC WC Study/ t. 4m2 4m2 .f Library Reception 2 Study e 73m2 15m2 21m2

Cloak Cloak errac 4m2 4m2 Lobby T Reception 1 9m2 86m2 Terrace Lobby Lobby Hall Reception Hall 9m2 7m2 7m2 9m2 83m2 e Hall 13m2 errac T Penthouse GIA: 477m2/ 5,134sq Penthouse GIA: 477m2/

Kitchen Reception 1 WC Dining Kitchen Cloak 4m2 16m2 Dining 51m2 20m2 15m2 8m2 23m2

Proposed 6th Floor Plan Proposed 7th Floor Plan

PROPOSED 6th FLOOR PLAN PROPOSED 7th FLOOR PLAN

Prime Development Opportunity S CHEDULE O F P ROPOSED A REAS

PROPOSED GEA PROPOSED GIA

Floor Sq m Sq Ft Floor Use Sq m Sq Ft

Seventh 537 5,782 Seventh Residential 427 4,596 Sixth 863 9,289 Circulation 60 646 Fifth 1,031 11,096 Sixth Residential 728 7,836 Fourth 1,031 11,096 Circulation 75 807 Third 1,031 11,096 Fifth Residential 893 9,612 Second 1,031 11,096 Circulation 72 775 First 1,031 11,096 Fourth Residential 893 9,612 Ground 1,039 11,188 Circulation 72 775 Lower Ground 1,391 14,976 Third Residential 893 9,612 Basement 337 3,628 Circulation 72 775 Second Residential 893 9,612 Total 9,322 100,342 Circulation 72 775 First Residential 893 9,612 PROPOSED NSA Circulation 72 775 Ground Residential 727 7,825 Circulation 155 1,668 Floor Sq m Sq Ft Ancillary 85 915 Lower Ground Residential 393 4,230 Circulation 116 1,249 Seventh 427 4,596 Spa/Gym/Bike Store 737 7,933 Sixth 728 7,836 Basement Car Park 315 3,391 Fifth 893 9,612 Fourth 893 9,612 Third 893 9,612 Total 8,643 93,033 Second 893 9,612 First 893 9,612 THE MEASUREMENTS FOR THE PROPOSED Ground 727 7,825 SCHEME ARE APPROXIMATE AND SHOULD Lower Ground 393 4,230 BE USED FOR GUIDANCE ONLY Total 6,740 72,549 MARKET

THE BOROUGH’S MOTTO IS QUAM BONUM IN UNUM HABITARE, WHICH CAN BE ROUGHLY TRANSLATED AS ‘WHAT A GOOD THING IT IS TO DWELL TOGETHER IN UNITY’.

Prime Development Opportunity MARKET

The Super Prime market has been fuelled by London’s political stability, first class higher education system and quality of the cosmopolitan lifestyle and culture. The capital’s booming financial services and business investment industries has also added to the burgeoning market for prime property.

London’s Super Prime market is intrinsically linked to wealth distribution. It is well documented by commentators such as Forbes and the Financial Times that London is a focus for the super rich and that this group is consistently growing.

A record 1,645 billionaires made the Forbes 2014 List of the World’s Richest People with an Aggregate Net Worth of $6.4 Trillion, up from $5.4 trillion from the year before. The average net worth of those billionaires was $4.7 billion (up from $4.2 billion in 2013).

Europe boasted the most billionaires outside of the U.S., with 468 billionaires, and it is estimated that London is home to 67 billionaires. This made it the most popular of Western Europe’s capitals with the ultra-wealthy, ahead of Paris with 25 and Geneva with 18.

More millionaires migrated to the UK over the last ten years compared to any other country worldwide, and London topped the rankings for millionaire residents in a single city. As a result the UK is now host to 815,000 dollar millionaires, third globally behind the US and Japan, but its net inflow represented a 16 percent increase over the decade, compared with just 1 percent for the US. LEGAL

LEGAL INFORMATION

It is well documented that the Kingdom of Netherlands Embassy is looking to relocate to a site which has already been acquired in Nine Elms. Therefore the sale of 38 Hyde Park Gate will be subject to an 42 month occupational lease back on a peppercorn from Exchange of Contracts as the Embassy finalises details of the impending move. A copy of the draft lease is available on the dataroom.

The property is subject to a Deed which agrees mutual means of escape at roof level between the subject property and the adjoining residential block to the South, 39 Hyde Park Gate. A clause is contained in the Deed which allows either party to end the agreement with a 4 month notice period. Full details and a copy of the Deed are available on the dataroom.

FURTHER INFORMATION For further information please contact the sales team to request access to the dataroom. The dataroom includes the following information:

• Title Register and Plan • Plowman Craven Measured Survey • Building Survey • Energy Performance Certificate • Planning Briefing Note • Draft Sale Contract • Draft Lease • Report on Title

Prime Development Opportunity C ONTACT

METHOD OF SALE Residential Development Jack Simmons Unconditional offers with an 42 month occupational leaseback are Direct Dial: + 44 (0) 20 7152 5386 invited for the freehold interest. Mobile: +44 (0) 7734 078161 Email: Cushman & Wakefield LLP (and any joint agent appointed) on its own behalf and for vendors or lessors of this property, whose agent it is, gives notice VIEWINGS James Chell that: Direct Dial: + 44 (0) 20 7152 5396 1. The particulars are produced in good faith, but are a general guide only All appointments are strictly by appointment only through and do not constitute any part of a contract. Mobile: +44 (0) 7921 092317 2. No person in the employment of the agent(s) has any authority to make or Cushman & Wakefield development team. give any representation or warranty whatsoever in relation to this property. Email: 3. The property is offered subject to contract and unless otherwise stated all rents are quoted exclusive of VAT. Central London Development 4. Nothing in these particulars should be deemed a statement that the prop- V AT erty is in good condition, or that any services or facilities are in working order. 5. Unless otherwise stated, no investigations have been made regarding pollution, or potential land, air or water contamination. Interested parties are We are advised that the property is not elected for VAT. James Bain-Mollison advised to carry out their own investigations if required. Direct Dial: + 44 (0) 20 7152 5223 May 2014 Mobile: +44 (0) 7730 358073 Email:

Tom Burnage Direct Dial: + 44 (0) 20 7152 5513 Mobile: +44 (0) 7793 808513 Email:

Prime Development Opportunity