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EXECUTIVE SUMMARY 04 LOCATION 05 HOLLAND PARK 09 EXISTING PROPERTY 10 PROPOSED DEVELOPMENT 11 RESIDENTS FACILITIES 12 ACCOMMODATION SCHEDULE 13 FLOOR PLANS & SITE PLAN 14 MARKET OVERVIEW 22 PLANNING 24 VIEWINGS & CONTACT 25 Indicative CGI of the original PP/14/06419 proposed development and streetscape to Holland Park Dukes Lodge 2
Indicative CGI of the original PP/14/06419 proposed development and streetscape to Holland Park Dukes Lodge 3
Dukes Lodge is a rare opportunity to develop a new build residential property of outstanding quality within the Royal Borough of Kensington and Chelsea. Dukes Lodge sits on the northern boundary of Holland Park, a vibrant 54 acre park which connects the areas of Notting Hill, Holland Park and Kensington. The development is ready to commence immediately, having gained planning permission for an exclusive collection of 24 private residential apartments with leisure amenities and 23 underground car parking spaces. The Net Saleable Area of the proposed development is 55,682 sq ft / 5,173 sq m with a Gross Internal Area of 91,605 sq ft / 8,510 sq m. For sale freehold with vacant possession. Indicative CGI of the original PP/14/06419 proposed development Dukes Lodge 4
PORTOBELLO ROAD REGENT S PARK PADDINGTON NOTTING HILL GATE HYDE PARK THE CITY MAYFAIR KENSINGTON GARDENS HOLLAND PARK KENSINGTON HIGH STREET The surrounding areas include Holland Park, Notting Hill and Kensington, all of which are internationally recognised as some of London s most traditional, affluent and fashionable residential addresses. There is a diverse range of local amenities including shops, cafés, restaurants and bars available on Holland Park Avenue (100m), Kensington High Street (1.2km) and at White City Westfield Shopping Centre (1.2km). Dukes Lodge is a short walk (600m) west of Notting Hill Gate which will benefit from large scale redevelopment following the grant of multiple planning applications by Royal Borough of Kensington and Chelsea in January 2017. The proposals submitted by the estate owner aim to extensively refurbish a number of the existing poor quality buildings on Notting Hill Gate and enhance the overall appearance of the area as well as greatly improve the provision of retail, office and residential uses currently available. Indicative CGI of the original PP/14/06419 proposed development Dukes Lodge 5
ROYAL OAK WESTWAY LADBROKE GROVE PADDINGTON LADBROKE GROVE WESTWAY BOND STREET LATIMER ROAD MARBLE ARCH WHITE CITY BAYSWATER LANCASTER GATE A3220 WOOD LANE QUEENSWAY BAYSWATER ROAD WOOD LANE WESTFIELD NOTTING HILL GATE KENSINGTON CHURCH STREET HYDE PARK PARK LANE HOLLAND PARK UXBRIDGE ROAD SHEPHERDS BUSH HOLLAND PARK AVENUE KENSINGTON PALACE ROUND POND KENSINGTON GARDENS SERPENTINE GALLERY THE SERPENTINE GOLDHAWK ROAD HOLLAND ROAD HOLLAND PARK KENSINGTON ROAD KNIGHTSBRIDGE KNIGHTSBRIDGE KNIGHTSBRIDGE DESIGN MUSEUM HIGH STREET KENSINGTON HIGH STREET KENSINGTON ROYAL ALBERT HALL EXHIBITION ROAD HYDE PARK CORNER QUEENS GATE HARRODS SLOANE STREET KENSINGTON OLYMPIA OLYMPIA BROMPTON ROAD NATURAL HISTORY MUSEUM V&A MUSEUM HAMMERSMITH GLOUCESTER ROAD SOUTH KENSINGTON Dukes Lodge 6
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In November 2016 the Design Museum opened in it s new location at the south end of Holland Park, as a popular addition to Kensington s cultural quarter. This adds to the already extensive range of destinations within the Borough, including; the Serpentine Gallery in Kensington Gardens 2.6 km), Royal Albert Hall (2.4 km), Natural History Museum (2.7 km) and Victoria and Albert Museum (3.2 km). The property is well served by public transport with the entrance to Holland Park underground station (Central line) situated 200 metres to the north west, providing convenient and direct access to Bond Street (7 minutes) and Liverpool Street (19 minutes). The nearest main line station is London Paddington (2.4 km). Holland Park Avenue also enables easy access to the A4 (Heathrow Airport, 23.5 km) and A40 as well as forming part of an arterial route east into the heart of London. Dukes Lodge 8
Holland Park is the largest public park in the Royal Borough of Kensington and Chelsea, covering an area of 54 acres. The park originally formed part of the grounds of Cope Castle, a large Jacobean mansion built by Sir Walter Cope in the early 17th century. The mansion was renamed Holland House after the Earl of Holland s wife Lady Rich inherited the property. Holland House was badly damaged during the Second World War, however a remaining section of the front terrace is now used as a distinctive backdrop for the park s summertime open-air theatre productions and classical concerts. Holland Park is the location of the magnificent and tranquil Kyoto Garden which was designed and built by an eminent Japanese garden designer to celebrate the Japan Festival in London in 1992. The park also provides children s playgrounds and numerous sports facilities including tennis courts, golf practice nets and cricket practice nets. Dukes Lodge 9
The site originally formed part of the 200 acre Holland Estate which surrounded Holland House. The land was purchased in 1768 by Henry Fox, first Baron Holland, before the houses known as 1 89 Holland Park were developed by agreement with two brothers, William and Francis Radford in 1859. From 1869 a single villa built as part of the Holland Park development stood on the site, until the end of the First World War when the villa was demolished and replaced with the existing property. The existing property is a purpose built 1930s building containing 27 apartments which are now vacant. The property includes a 10 car garage adjacent to the main building and 9 further off street parking spaces at the front of the building. A private garden is located to the south of the building bordering the boundary of Holland Park. The total site area measures 0.62 acres (0.25 hectares) Dukes Lodge 10
Indicative CGI of the original PP/14/06419 proposed development The development requires demolition of the existing property and construction of a new build residential apartment scheme which gained planning consent in January 2016. A minor material amendment application was granted consent in March 2017 which enhances the scheme to provide the following accommodation: 24 private apartments including: - 1 x one bedroom unit - 3 x two bedroom units - 13 x three bedroom units - 7 x four bedroom units Concierge, gymnasium and swimming pool 23 secure underground car parking spaces The Net Saleable Area of the proposed development is 55,682 sq ft / 5,173 sq m with a Gross Internal Area of 91,605 sq ft / 8,510 sq m This high quality residential development has been designed by Lifschutz Davidson Sandilands as five interlinked contemporary villas, in keeping with Holland Park s distinguished traditional style of architecture. The site offers an unrivalled opportunity to develop cutting-edge modern apartments within a highly desirable and traditional location. Dukes Lodge 11
CONCIERGE The proposed development includes a reception lobby at ground floor level which is located within the central villa. This provides a concierge and security desk offering the opportunity to provide a luxury and bespoke service to residents. LEISURE AMENITIES Located on the lower ground floor of Villa E is a generously sized gymnasium, along with a 17m (56 ft) swimming pool. In addition, a gate from the Dukes Lodge communal garden provides access to Holland Walk and into the heart of Holland Park. These facilities will be exclusively available to the Dukes Lodge residents. CAR PARKING An arrival and drop off area for vehicles in front of the main entrance has been incorporated into the development. The proposed development allows for 23 secure basement car parking spaces. Also included are 6 motorcycle spaces and 66 cycle spaces. The car park is discretely accessed via Villa E by way of a separate car lift. LANDSCAPING The inclusion of planting and garden space in the consented scheme echoes the nature of the surrounding area. Five new plane trees are proposed to line the newly widened pavement outside the property, improving the streetscape and vista from the apartments. Lower ground floor units will benefit from terraces to the front and rear of the property, along with a communal garden and seating area to the south east of the site. Indicative CGI of the original PP/14/06419 proposed development Dukes Lodge 12
.0 These schedules relate to the latest revised scheme as consented in NMA/16/07605 and PP/16/08625. UNIT TYPE NO. OF UNITS TOTAL FLOOR AREA SIZE RANGE NSA (SQ FT) % OF UNITS NSA (sq ft) NSA (sq m) Min Average Max 1 Bedroom Lateral 1 731 67.9 731 731 731 4% 2 Bedroom Lateral 3 3,909 363.2 940 1,303 2,030 13% 3 Bedroom Lateral 7 14,973 1,391.0 1,687 2,139 2,799 29% 3 Bedroom Duplex 6 12,545 1,165.5 1,820 2,091 2,269 25% 4 Bedroom Lateral 4 13,142 1,220.9 3,144 3,285 3,427 17% 4 Bedroom Duplex 3 10,382 964.5 2,953 3,461 4,018 13% FLOOR UNIT NO. BEDROOMS NSA (sq ft) NSA (sq m) Lower Ground / Ground G.01 4 4,018 373.3 Lower Ground / Ground G.02 3 1,820 169.1 Lower Ground / Ground G.03 3 2,114 196.4 Lower Ground / Ground G.04 3 2,082 193.4 Lower Ground / Ground G.05 3 2,085 193.7 Lower Ground / Ground G.06 3 2,175 202.1 Lower Ground / Ground G.07 3 2,269 210.8 First 1.01 3 1,687 156.7 First 1.02 2 940 87.3 First 1.03 3 2,279 211.7 First 1.04 3 1,855 172.3 First 1.05 2 940 87.3 First 1.06 1 731 67.9 First 1.07 2 2,030 188.6 Second 2.01 3 1,687 156.7 Second 2.02 4 3,281 304.8 Second 2.03 4 3,427 318.4 Second 2.04 3 1,948 181.0 Third 3.02 4 3,144 292.1 Third 3.03 4 3,289 305.6 Third & Fourth Duplex North 4 2,953 274.3 Third & Fourth Duplex South 4 3,411 316.9 Fourth Penthouse North 3 2,719 252.6 Fourth Penthouse South 3 2,799 260.0 Total 55,682 5,173.0 Dukes Lodge 13
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Duplex North Penthouse North Penthouse South Duplex South Dukes Lodge 20
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Since the inception of Knight Frank Prime index in 1978, prime London house prices have consistently outperformed mainstream London and the rest of the UK in real terms, averaging over this period 8.8% growth per annum. BUYING, HOLDING AND SELLING A $2 MILLION PROPERTY While Stamp Duty Land Tax introduced in 2014 has increased taxation on prime property, the comparison between London and other global cities is very favourable. COST OF BUYING HOLDING COST (5 YEARS) COST OF SELLING 35% DEMAND 64,000 is annual household growth estimate based on economic demand (2016-20) PERCENTAGE OF PROPERTY PRICE 30% 25% 20% 15% 10% 5% 0% SUPPLY 41,000 London-wide completions in 2016 (Savills estimate) 31,000 completions in 2015 (Savills estimate) Despite the uncertainties of Brexit, London remains in a premier position as the place of choice for global wealth to live, work and invest. London has a housing crisis: demand significantly outstrips supply. Structural advantages Cultural advantages Dukes Lodge 22
3,000 PSF+ PIPELINE Number of private units More than 100 50 to 100 20 to 50 Less than 20 DEVELOPMENT STATUS Construction or Complete Permissions Applications & Appeal Highlighted on the map is the pipeline of residential schemes anticipated to average in excess of 3,000 per sq ft. Further to this, there are only 4 schemes in this pipeline which are priced to average between 3,500 and 4,000 per sq ft. Significant scale residential development sites in the Royal Borough of Kensington and Chelsea are a rarity, constricted by existing traditional housing stock, strict conservation and planning regulations. In the neighbouring borough of Westminster, recent policy restricting change of use from existing offices to residential is resulting in further limited opportunities. NEW BUILD SALES In terms of transactions, 2015 and 2016 have seen an increase in the purchase of 5m+ new build homes in London. 66 Chiltern Street Park Crescent West Park Modern Newcombe House DUKES LODGE Campden Hill Villas HYDE PARK 20 Grosvenor Square One Grosvenor Square 60 Curzon Street Audley Square House Clarges Mayfair Park Residences One Kensington Gardens 11-15 Grosvenor Crescent The Kensington 53-56 Hans Place 1 Palace Street The Knighton Source: Savills Clearings Chelsea Farmers Market The Glebe Chelsea Barracks Dukes Lodge 23
Planning permission was granted at appeal in January 2016 (ref: APP/K5600/W/15/3007991, previously PP/14/06419). Since, the building has been stripped out in preparation for demolition. The following planning work to optimise and prepare the property for development has also been undertaken: PP/16/08625 Minor Material Amendment Granted on 24th March 2017 This application amends the scheme to remove one car lift, alter the roof form, alter the position of a lift shaft, removes balconies and makes internal amendments to the unit mix, layout and floor areas as detailed in this brochure. CON/17/00165 Discharge Condition 5 Granted on 22nd March 2017 This application relates to the submission of a Construction Traffic Management Plan. CON/17/00349 Part Variation of Condition 17 Granted on 22nd February 2017 This application relates to the partial discharge of landscaping requirements and amendment of Condition 17 to delay the trigger point (under NMA/17/00290). NMA/17/00290 Non Material Amendment Granted on 2nd February 2017 This application delays the trigger point of Condition 17 relating to landscaping. CON/16/07576 Discharge of Conditions 6 and 14 Granted on 5th January 2017 This application relates to the appointment of a Chartered Civil Engineer or Chartered Structural Engineer, and the submission of a surface water management plan. NMA/16/07605 Non Material Amendment Granted on 19th December 2016 This application makes internal amendments to the unit mix, layout and floor areas. The planning consent is subject to the following planning obligations: - Affordable Housing: 6,481,200 - Highways Contribution: 170,000 - Mayor and RBKC CIL: 3,172,080 Indicative CGI of the original PP/14/06419 proposed development Dukes Lodge 24
Full planning, technical and legal due diligence is available on the project website: www.dukeslodgelondon.com Viewings are strictly by appointment through Savills or Knight Frank. For further information please contact any of the following: Tim Whitmey +44 (0) 20 7409 9999 twhitmey@savills.com Ian Marris +44 (0) 20 7861 5404 ian.marris@knightfrank.com Luke Hawkesbury +44 (0) 20 7409 9942 lhawkesbury@savills.com Lizzie Parrott +44 (0) 20 7409 9943 lparrott@savills.com Anthony Kazan +44 (0) 20 7861 1286 anthony.kazan@knightfrank.com IMPORTANT NOTICE Savills, Knight Frank and their clients give notice that: 1. They are not authorised to make or give any representations or warranties in relation to the property either here or elsewhere, either on their own behalf or on behalf of their client or otherwise. They assume no responsibility for any statement that may be made in these particulars. These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact. 2. Any areas, measurements or distances are approximate. The text, photographs and plans are for guidance only and are not necessarily comprehensive. It should not be assumed that the property has all necessary planning, building regulation or other consents and the joint sales agents have not tested any services, equipment or facilities. Purchasers must satisfy themselves by inspection or otherwise. May 2017 Brochure by DD LONDON. www.ddlondon.com Dukes Lodge 25
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