K E N S I N G T O N ENTER

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1 KENSINGTON

2 T HE O PPORTUNITY The property has served as the Kingdom of Netherlands Embassy since 1953 and offers the potential to redevelop to provide an internationally significant super prime central London residential development (subject to planning). A super prime central London residential development opportunity (subject to planning) in the Royal Borough of Kensington and Chelsea located adjacent to Kensington Gardens. Located close to the royal residence Kensington Palace and the occupants of Kensington Palace Gardens, recognised as London s most exclusive address. A generous 0.47 acre (0.19 hectare) site with extensive panoramic views over Kensington Gardens and Hyde Park, two of the 8 Royal Parks of London. An extremely rare opportunity to acquire a landmark freehold in Kensington bordering Knightsbridge, home to London s most exclusive residential and business addresses and globally renowned retail destination. A proposed scheme provides a net residential sales area of 6,800 sq m (73,195 sq ft) over 18 private residential apartments with enviable lateral accommodation (subject to planning). A proposed scheme delivers exclusive concierge and security services with 18 secure basement car parking spaces, gym, swimming pool and spa.

3 T HE L OCATION 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 SOUTH KENSINGTON; THE SCIENCE MUSEUM, THE NATURAL HISTORY MUSEUM AND THE VICTORIA AND ALBERT MUSEUM. Prime Development Opportunity

4 T HE L OCATION The propety is located in the exclusive Royal Borough of Kensington and Chelsea. The area is bound by Notting Hill and Holland Park 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 Harvey Nichols and Harrods 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.

5 L OCATION M AP A4204 Kensington High St 38 Kensington Gardens A315 Hyde Park Knightsbridge A4 Knightsbridge High St Kensington B310 Chesham St Cromwell Rd Queen s Gate Queen s Gate A3216 B319 Pont St Marloes Rd Brompton Rd Sloane St A4 Gloucester Rd Cromwell Rd A3218 South Kensington A3217 A3220 Earl s Court Old Brompton Rd Fulham Rd Sloane Ave Draycott Pl A3216 Sloane Square

6 A ERIAL M AP BOND STREET MAYFAIR BUCKINGHAM PALACE HYDE PARK SERPENTINE MANDARIN ORIENTAL HARVEY NICHOLS ONE HYDE PARK HARRODS SLOANE SQUARE ROYAL ALBERT HALL NATURAL HISTORY MUSEUM 38 KENSINGTON GARDENS

7 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

8 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. WEST END 9 mins Transport links will be further improved across central London by Crossrail from 2018 onwards, providing enhanced journey times between Heathrow Airport, the West End, the City and Canary Wharf. HEATHROW 29 mins 38 CENTRAL LONDON CANARY WHARF 26 mins CITY AIRPORT 33 mins International travel is provided by Heathrow Airport which is less than 30 minutes drive to the west. Location Distance Travel Time 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 Travel Time Heathrow Airport 15.1 Miles 29 Minutes ( Kilometres) London City Airport 11 Miles 33 Minutes ( Kilometres) Gatwick Airport 36.3 Miles 57 Minutes ( Kilometres)

9 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

10 a to T HE S ITE The property is registered under Title No A copy of the Title Register and Title Plan is available on the data room. Shelter HYDE PARK GATE Shelter 14.1m KENSINGTON ROAD 14.5m Shelter 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 site has extensive views across Hyde Park to the North. The immediate area is predominantly residential in character, with a number of luxury residential homes and high profile apartment schemes. 54a 54 53a 53 Broadwalk House 52 The site benefits from vehicular ingress & egress for a gated drive offering private secure parking, this can be accessed from both Kensington Gore and Hyde Park Gate. 1 to 26 HYDE PARK GATE 38 HYDE PARK GATE 8 39 RESTON PLACE HYDE PARK GATE MEWS 1 to Chancellor House 14 to 24 0m 10m 20m 30m HYDE PARK GATE 42 Ordnance Survey Crown Copyright All rights reserved. Licence number 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

11 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 ,167 Sixth ,490 Fifth ,615 Fourth ,274 Third ,455 Second ,458 First ,394 Ground ,234 Basement ,238 Total 6, ,235

12 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

13 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.

14 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

15 Plant F LOOR P LANS Bike Store 5 Car Stacker Lift 92m2 Tenant Storage 55m2 Car Stacker Lift 13m2 Bedroom 53m2 18 cars per level Car Stacker Gym 165m2 Hall 20m2 Circulation 4 WC 5m2 Hall 17m2 Bathroom Hall 14m2 Reception 46m2 Kitchen/ Dining 30m2 Kitchen 13m2 Enlarged lightwell Enlarged lightwell Proposed Basement Plan Reception 35m2 Bathroom 8m2 Bedroom 28m2 Kitchen 8m2 New terrace Changing 52m2 Pool Store 10m2 Bedroom 22m2 New terrace Reception 40m2 PROPOSED BASEMENT PLAN Swimming Pool 251m2 Proposed Lower Ground Floor Plan Spa Pool Prime Development Opportunity PROPOSED LOWER GROUND FLOOR PLAN

16 WC F LOOR P LANS 8m2 Service/ escape Bedroom 1 52m2 Lobby 16m2 8m2 Car Stacker Lift Bedroom 1 52m2 12m2 14m2 14m2 12m2 Bedroom 1 52m2 Lobby 8m2 6m2 6m2 Lobby 8m2 Bedroom 3 31m2 Bedroom 2 31m2 Wine Cellar 6m2 Utility 6m2 Clk4m2 WC 4m2 Wine Cellar Utility 15m2 Bedroom 1 33m2 Bedroom 2 32m2 Bedroom 3 31m2 Bedroom 2 31m2 Wine Cellar Utility Wine Cellar Utility Bedroom 3 33m2 Bedroom 2 31m2 Study/ Library 15m2 4m2 Cloak 4m2 Study/ Library 15m2 Study/ Library 15m2 WC 4m2 WC 4m2 Study 12m2 Reception 84m2 Hall 20m2 Entrance Hall 43m2 Hall 20m2 Reception 71m2 Reception 84m2 Hall Cloak 4m2 Lobby 7m2 Cloak 4m2 Lobby Hall 7m2 New Balcony Dining 20m2 Kitchen 14m2 Kitchen 14m2 Dining 16m2 Reception 1 7 Dining 20m2 Kitchen 36m2 Kitchen 16m2 Dining 23m2 Porch Plant Access Balcony Balcony Balcony Balcony Proposed 1st-5th Floor Plans Drop-off drop kerb 2x parking spaces new service road & landscaping Exit PROPOSED 1st-5th FLOOR PLANS H Y D E P A R K G A T E Existing tree Gatehouse 1100lit 1100lit 1100lit eurobin eurobin eurobin Existing tree recycling & refuse Meters Existing vehicular entrance 1100lit 1100lit 1100lit eurobin eurobin eurobin Proposed Ground Floor Plan PROPOSED GROUND FLOOR PLAN Prime Development Opportunity

17 F LOOR P LANS Bedroom 1 35m2 13m2 13m2 Bedroom 1 28m2 Bedroom 3 34m2 Bedroom 1 38m2 13m2 7m2 Bedroom 2 32m2 10m2 10m2 Wine Cellar Utility Wine Cellar Utility Bedroom 2 25m2 8m2 Utility 13m2 Kitchen 23m2 12m2 Bedroom 3 26m2 Bedroom 3 31m2 Bedroom 3 25m2 Reception 83m2 Study/ Library 15m2 Hall WC 4m2 Cloak 4m2 Lobby 7m2 WC 4m2 Cloak 4m2 Lobby 7m2 Hall Study 21m2 Reception 1 86m2 Lobby Hall 13m2 Reception 2 73m2 Penthouse GIA: 477m2/ 5,134sq.ft. Dining 20m2 Kitchen 16m2 Dining 23m2 Kitchen 15m2 Reception 1 51m2 Cloak 8m2 WC 4m2 Proposed 6th Floor Plan Proposed 7th Floor Plan PROPOSED 6th FLOOR PLAN PROPOSED 7th FLOOR PLAN Prime Development Opportunity

18 S CHEDULE O F P ROPOSED A REAS PROPOSED GEA Floor Sq m Sq Ft Seventh 537 5,782 Sixth 863 9,289 Fifth 1,031 11,096 Fourth 1,031 11,096 Third 1,031 11,096 Second 1,031 11,096 First 1,031 11,096 Ground 1,039 11,188 Lower Ground 1,391 14,976 Basement 337 3,628 Total 9, ,342 PROPOSED NSA Floor Sq m Sq Ft Seventh 27 4,596 Sixth 728 7,836 Fifth 893 9,612 Fourth 893 9,612 Third 893 9,612 Second 893 9,612 First 893 9,612 Ground 727 7,825 Lower Ground 393 4,230 Total 6,740 72,549 PROPOSED GIA Floor Use Sq m Sq Ft Seventh Residential 27 4,596 Circulation Sixth Residential 728 7,836 Circulation Fifth Residential 893 9,612 Circulation Fourth Residential 893 9,612 Circulation Third Residential 893 9,612 Circulation Second Residential 893 9,612 Circulation First Residential 893 9,612 Circulation Ground Residential 727 7,825 Circulation 155 1,668 Ancillary Lower Ground Residential 393 4,230 Circulation 116 1,249 Spa/Gym/Bike Store 737 7,933 Basement Car Park 315 3,391 Total 8,643 93,033 THE MEASUREMENTS FOR THE PROPOSED SCHEME ARE APPROXIMATE AND SHOULD BE USED FOR GUIDANCE ONLY

19 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

20 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.

21 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

22 METHOD OF SALE Unconditional offers with an 42 month occupational leaseback are invited for the freehold interest. VIEWINGS All appointments are strictly by appointment only through Cushman & Wakefield development team. V A T We are advised that the property is not elected for VAT. C ONTACT Residential Development Jack Simmons Direct Dial: + 44 (0) Mobile: +44 (0) James Chell Direct Dial: + 44 (0) Mobile: +44 (0) Central London Development James Bain-Mollison Direct Dial: + 44 (0) Mobile: +44 (0) Tom Burnage Direct Dial: + 44 (0) Mobile: +44 (0) 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 that: 1. The particulars are produced in good faith, but are a general guide only and do not constitute any part of a contract. 2. No person in the employment of the agent(s) has any authority to make or give any representation or warranty whatsoever in relation to this property. 3. The property is offered subject to contract and unless otherwise stated all rents are quoted exclusive of VAT. 4. Nothing in these particulars should be deemed a statement that the property 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 advised to carry out their own investigations if required. May 2014 Prime Development Opportunity