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<ul><li><p> Pembridge Villas, Notting Hill, London Prime Central London Residential Investment &amp; Development Opportunity </p><p>Prime Central London Residential Investment &amp; Development Opportunity</p><p>Pembridge VillasNotting Hill</p><p>London W11 3EP </p><p>2123</p><p>&amp;</p></li><li><p> Pembridge Villas, Notting Hill, London Pembridge Villas, Notting Hill, London Prime Central London Residential Investment &amp; Development Opportunity Prime Central London Residential Investment &amp; Development Opportunity </p><p>Location &amp; Transport The property is located in Notting Hill, within the Royal Borough </p><p>of Kensington and Chelsea. Notting Hill is a fashionable area </p><p>of central London. There is a range of shopping amenities </p><p>available on Notting Hill itself, along with fashionable </p><p>boutiques, exclusive bars and eateries in the immediate </p><p>surrounding area. The world famous Portobello Road is </p><p>immediately to the west whilst Kensington Gardens are </p><p>approximately 700 metres to the south.</p><p>Pembridge Villas is an attractive and exclusive street which </p><p>runs north from Notting Hill to Westbourne Grove. The </p><p>property is located on the east side, close to the junction with </p><p>Chepstow Villas. Pembridge Villas mainly comprises substantial </p><p>mid-nineteenth century detached and terraced properties, </p><p>some of which remain as superb single houses while others </p><p>have been converted into apartments. Some properties are in </p><p>commercial use including educational / diplomatic purposes, </p><p>such as the subject property.</p><p>The area benefits from excellent communications with Notting </p><p>Hill London Underground station (Travel Zone 1, Circle &amp; </p><p>District, Central Lines) just 500 metres to the south providing </p><p>easy access to the West End. Journey times to Oxford Circus </p><p>are approximately 8 minutes and approximately 17 minutes </p><p>to Bank station in the City. The Central Line also links to </p><p>the Piccadilly line which allows access to Heathrow Airport. </p><p> A substantial freehold building comprising two adjoining and interlocking stucco fronted properties with a site area </p><p>of 0.32 acres (0.13 hectares)</p><p> Let on a full repairing lease to the Russian Federation for a term certain of 14.5 years at a current rent of </p><p>561,077 per annum</p><p> Attractive annual rent reviews linked to the Retail Price Index (RPI)</p><p> Overall gross internal area of 1,101 sq m / 11,846 sq ft </p><p> The property is currently operated as a Russian Curriculum School for diplomats children; it also </p><p>includes four residential apartments</p><p> Located in Notting Hill, within the Royal Borough of Kensington and Chelsea, close to Notting Hill Underground </p><p>Station (Travel Zone 1, Central, Circle </p><p>and District Lines) </p><p> Various future residential development options (subject to the necessary consents)</p><p>Executive Summary</p><p>An opportunity to own a significant freehold property in Prime Central London, benefiting from both existing income and future development potential</p><p>Summary</p><p>Units 2 interlocking period buildings (currently used as a private school &amp; residential accommodation) </p><p>Gross internal Area (Sq m / sq ft)</p><p>1,101 sq m / 11,846 sq ft</p><p>Total Site Area 0.32 acres (0.13 hectares)</p><p>Passing Rent (pa) 561,077</p><p>Tenure Freehold </p><p> T</p><p>HE</p><p> T</p><p>HA</p><p>ME</p><p>S</p><p>HarveyNichols</p><p>NaturalHistory</p><p>Museum</p><p>RoyalAlbert</p><p>Hall</p><p>V&amp;AMuseum</p><p>WestfieldLondon</p><p>KensingtonPalace</p><p>OLD BO</p><p>ND ST</p><p>EDGWARE ROAD PARK LANE </p><p> GROSVENOR PL VA</p><p>UXHALL BRIDGE RD</p><p> H</p><p>OLLAND</p><p> PARK AV</p><p>E </p><p> BAYSW</p><p>ATER RD </p><p> BAYSW</p><p>ATER RD </p><p> OXFORD ST </p><p> OXFORD ST</p><p> KENSIN</p><p>GTO</p><p>N C</p><p>H</p><p>U RCH ST</p><p> LADBRO</p><p>KE GROVE</p><p> KENSINGTON PARK RD</p><p>WESTBO</p><p>URNE PAR</p><p>K RD </p><p> CH</p><p>APSTOW</p><p> RD</p><p>WESTBOURNE G</p><p>ROVE</p><p> KENS</p><p>INGTON</p><p> HIGH S</p><p>TREET </p><p> KENSINGTO N RD</p><p> CROMWELL RD A4 </p><p> BR</p><p>OMPTO</p><p>N RD</p><p> WARW</p><p>ICK GRDN S</p><p>REDCLIFFE GRDNS</p><p> GLOU</p><p>CESTER RD</p><p> FU</p><p>LHAM</p><p> RD </p><p> A30</p><p>8</p><p> A</p><p>3217 </p><p> KIN</p><p>GS RD</p><p>SLOAN</p><p>E ST CHELSEA BRIDGE RD</p><p>CHELSEA EMB</p><p>ANKMENT G</p><p>ROSVENOR RD A3212 MILLBA</p><p>NK</p><p> BEAUCH AMP PL PONT</p><p> ST </p><p> ECCLESTON ST BELG</p><p>VE RD</p><p> P</p><p>ICCAD</p><p>ILLY</p><p>VICTOR</p><p>IA ST</p><p>BUCKINGHAM GATE</p><p>MARSH</p><p>AM ST</p><p>ALBE</p><p>RT E</p><p>MBA</p><p>NKM</p><p>ENT </p><p> L</p><p>AMBE</p><p>TH P</p><p>ALAC</p><p>E RD</p><p>VIC</p><p>TORI</p><p>A EM</p><p>BAN</p><p>KMEN</p><p>T</p><p>PALL M</p><p>ALL </p><p>WHITEH</p><p>ALL</p><p>KING</p><p>SWAY C</p><p>HARIN</p><p>G CRO</p><p>SS RD</p><p> REGEN</p><p>T ST</p><p>WIGMORE ST</p><p> NEW BO</p><p>ND ST</p><p>BRUT</p><p>ON</p><p> ST</p><p>STND</p><p> EXH</p><p>IBIT</p><p>ION</p><p> RD</p><p>BROOK ST</p><p>GROSVENO</p><p>R ST</p><p>MOUNT ST</p><p> WARWICK RD </p><p>WAR WICK WAY</p><p> HAMMERSMITH FLYOVER A315</p><p> H</p><p>AMM</p><p>ERSM</p><p>ITH </p><p>BRID</p><p>GE</p><p> FULH</p><p>A M PALACE ROAD</p><p> GOLD</p><p>HAWK RO</p><p>AD </p><p> A402</p><p>UXBRIDGE ROAD A4020</p><p>WO</p><p>OD</p><p> LANE A219 SH</p><p>EPHERD</p><p>S BUSH</p><p> ROAD A219</p><p>WESTWAY A40</p><p>PORTO</p><p>BELLO ROAD</p><p>KENSIN</p><p>GTO</p><p>N PALACE G</p><p>ARDEN</p><p>S</p><p>HOLLANDPARK</p><p>HYDEPARK</p><p>KENSINGTONGARDENS</p><p>GREENPARK</p><p>BERKELEYSQUARE</p><p>MAYFAIRST JAMESS</p><p>CHELSEA</p><p>NOINGHILL</p><p>BAYSWATER</p><p>KENSINGTON</p><p>WHITECITY</p><p>SOHO</p><p>COVENTGARDEN</p><p>PICCADILLYCIRCUS</p><p>OXFORDCIRCUS</p><p>BONDSTREET</p><p>MARBLEARCH</p><p>LANCASTERGATE</p><p>PADDINGTON</p><p>QUEENSWAY</p><p>NOINGHILL GATEHOLLAND</p><p>PARK</p><p>SHEPHERDSBUSH</p><p>KENSINGTONOLYMPIA</p><p>GOLDHAWKROAD</p><p>HAMMERSMITH</p><p>LATIMERROAD</p><p>WHITECITY</p><p>WOODLANE</p><p>SHEPHERDSBUSH MARKET</p><p>HIGH STREETKENSINGTON</p><p>EARLSCOURTWEST</p><p>KENSINGTON</p><p>WESTBROMPTON</p><p>GLOUCESTERROAD SOUTHKENSINGTON</p><p>KNIGHTSBRIDGE</p><p>SLOANESQUARE</p><p>VICTORIA</p><p>PIMLICO</p><p>HYDEPARK</p><p>CORNER</p><p>GREENPARK</p><p>ST JAMESSPARK</p><p>LEICESTERSQUARE</p><p>CHARINGCROSS</p><p>EMBANKMENT</p><p>TOENHAMCOURT ROAD</p><p>WESTMINSTER</p><p>KNIGHTSBRIDGE</p><p>ST JAMESSPARK</p><p>Harrods</p><p>One Hyde Park</p><p>e Ritz</p><p>Selfridges</p><p>The Lanesborough</p><p>BELGVIA</p><p>2123</p><p>&amp;</p><p>RegentsPark</p><p>WarrenStreet</p><p>Farringdon</p><p>Barbican</p><p>High StreetKensington</p><p>Green Park</p><p>BakerStreet</p><p>NottingHill Gate</p><p>Holland Park</p><p>Victoria</p><p>SloaneSquare</p><p>OxfordCircus</p><p>BondStreet</p><p>Westminster</p><p>PiccadillyCircus</p><p>CharingCross</p><p>Holborn</p><p>LeicesterSquare</p><p>London Bridge</p><p>Knightsbridge</p><p>SouthKensington</p><p>Marylebone</p><p>TottenhamCourt Road</p><p>EarlsCourt</p><p>LiverpoolStreet</p><p>Bank</p><p>Paddington Euston</p><p>Kings CrossSt. Pancras</p><p>Edgware Road</p><p>Embankment</p><p>Waterloo</p><p>Crossrail (from 2018)</p><p>Queensway</p><p>GreatPortlandStreet</p><p>GoodgeStreet</p><p>Not to scale. For illustrative purposes onlyRed line is approximate and for illustrative purposes only</p><p>Portabello Market</p></li><li><p> Pembridge Villas, Notting Hill, London Pembridge Villas, Notting Hill, London Prime Central London Residential Investment &amp; Development Opportunity Prime Central London Residential Investment &amp; Development Opportunity </p><p>The City Docklands SerpentineNotting Hill</p><p>Hyde ParkThe West EndWestbourne </p><p>Grove</p><p>2123</p><p>&amp;</p></li><li><p> Pembridge Villas, Notting Hill, London Pembridge Villas, Notting Hill, London Prime Central London Residential Investment &amp; Development Opportunity Prime Central London Residential Investment &amp; Development Opportunity </p><p>Description Originally built as a detached house and adjacent semi </p><p>detached house the property is now interconnecting. </p><p>The property extends to 1,101 sq m (11,846 sq ft) and </p><p>accommodation is arranged over lower ground, ground </p><p>and three upper floors at 21 Pembridge Villas, and two </p><p>upper floors at 23 Pembridge Villas. </p><p>The property is let to the Russian Federation and is currently </p><p>used as a Russian Curriculum School, exclusively for the use </p><p>of Diplomatic families. The majority of the building is </p><p>designated for educational use. However, there are two </p><p>residential apartments at the lower ground floor level (a studio </p><p>and a one bedroom flat). There is also a one bedroom flat on </p><p>the top floor of No.21 and another two bedroom flat on the </p><p>second floor of No.23. Each floor boasts impressive floor to </p><p>ceiling heights and original period features.</p><p>To the rear, the former gardens, which are extensive, have </p><p>been combined for use as an open play area including a hard </p><p>surface area for tennis and other racket and ball sports. </p><p>The subject property is held freehold with the entire site </p><p>extending to 0.32 acres (0.13 hectares). </p><p>Planning The property is located within the administrative boundaries </p><p>of the Royal Borough of Kensington and Chelsea (RBKC). </p><p>It has not been the subject of any planning applications </p><p>in recent years, with any applications instead relating to </p><p>arboricultural works.</p><p>Planning policy in RBKC seeks to protect educational facilities, </p><p>albeit the focus of this policy is on the safeguarding of schools </p><p>which provide for local needs rather than Embassy Schools.</p><p>Current RBKC policy is included within the Core Strategy, </p><p>which provides over-arching, rather than detailed policy </p><p>guidance. The previous detailed policy in the UDP sought </p><p>to resist Diplomatic and Allied Uses in certain locations, </p><p>including at Pembridge Villas, due to the residential character </p><p>of the properties and traffic implications on the road network.</p><p>In view of the existing and superseded policy, it is considered </p><p>that there would be justification for change of use to </p><p>residential. However, prospective purchasers are advised to </p><p>rely upon their own enquiries. </p><p>Floor Plans Overall gross internal area of 1,101 sq m (11,846 sq ft) </p><p>23.1m</p><p>21.8m</p><p>22.2m</p><p>DAWSON PL</p><p>ACE</p><p>PEMBR</p><p>IDG</p><p>E PLAC</p><p>E</p><p>CRESCENT</p><p>CHEPSTOW</p><p>CHEPS</p><p>TOW VIL</p><p>LAS</p><p>PEM</p><p>BRID</p><p>GE </p><p>VILL</p><p>AS</p><p>23</p><p>10</p><p>22</p><p>Hall</p><p>1 to</p><p> 7</p><p>2</p><p>London</p><p>Spiritual Mission</p><p>16</p><p>41</p><p>14 to 3</p><p>4</p><p>21</p><p>27</p><p>1113</p><p>a</p><p>24</p><p>25</p><p>11</p><p>15</p><p>1</p><p>7</p><p>1a</p><p>30</p><p>1b</p><p>11</p><p>7</p><p>3</p><p>1</p><p>1c8</p><p>Surgery</p><p>Chepstow</p><p>17</p><p>Court</p><p>3</p><p>Lodg</p><p>e</p><p>16</p><p>1 to 12</p><p>12</p><p>9</p><p>18</p><p>Ashd</p><p>own</p><p>18a</p><p>14</p><p>14</p><p>13</p><p>19</p><p>Pembridge Studios</p><p>1 to 9</p><p>12</p><p>40</p><p>29</p><p>Shelter</p><p>Shelter</p><p>27a</p><p>0m 10m 20m 30m</p><p>0.32 Acres (0.13 Hectares) 13,941 sq ft. </p><p>21 and 23 Pembridge Villas </p><p>Ordnance Survey Crown Copyright 2015. All rights reserved. Licence number 100022432. Plotted Scale - 1:1250</p><p>Reception Room14'3'' x 11'9''4.34 x 3.58m</p><p>Bedroom13'6'' x 10'9''4.11 x 3.28m</p><p>Bed/SittingRoom</p><p>17'3'' x 14'3''5.26 x 4.34m</p><p>LIFT</p><p>10'3'' x 5'9''3.12 x 1.75m</p><p>BoilerRoom</p><p>20'9'' x 7'9''6.32 x 2.36m</p><p>Classroom21'9'' x 17'6''6.63 x 5.33m</p><p>Classroom28'3'' x 15'</p><p>8.61 x 4.57m</p><p>Classroom14' x 13'6''</p><p>4.27 x 4.11m</p><p>Unableto</p><p>Access</p><p>11'3'' x 5'3.43 x 1.52m</p><p>Classroom16'3'' x 14'3''4.95 x 4.34m</p><p>Classroom16' x 14'3''</p><p>4.88 x 4.34m</p><p>Office10'9'' x 9'</p><p>3.28 x 2.74m</p><p>Office12'9'' x 7'3''</p><p>3.89 x 2.21m13'3'' x 8'6''</p><p>4.04 x 2.59mClassroom</p><p>14'6'' x 14'3''4.42 x 4.34m</p><p>Classroom21'6'' x 15'3''6.55 x 4.65m</p><p>Classroom22'3'' x 17'6''6.78 x 5.33m</p><p>18'6'' x 9'5.64 x 2.74m</p><p>11'6'' x 10'6''3.51 x 3.20m</p><p>Classroom14'3'' x 12'9''4.34 x 3.89m</p><p>Classroom20'6'' x 14'3''6.25 x 4.34m</p><p>10'9'' x 7'6''3.28 x 2.29m</p><p>Cloakroom14' x 8'</p><p>4.27 x 2.44m</p><p>Classroom21'6'' x 17'9''6.55 x 5.41m</p><p>Classroom28'9'' x 14'9''8.76 x 4.50m</p><p>Office14'9'' x 14'</p><p>4.50 x 4.27m</p><p>Bedroom16'3'' x 14'6''4.95 x 4.42m</p><p>ReceptionRoom</p><p>16'9'' x 14'6''5.11 x 4.42m</p><p>12' x 10'3''3.66 x 3.12m</p><p>ReceptionRoom</p><p>10' x 8'6''3.05 x 2.59m</p><p>Bedroom14'9'' x 13'</p><p>4.50 x 3.96m</p><p>Kitchen13'3'' x 8'6''</p><p>4.04 x 2.59m</p><p>Classroom14'6'' x 14'3''4.42 x 4.34m</p><p>Classroom21'6'' x 15'3''6.55 x 4.65m</p><p>Classroom17'6'' x 15'3''5.33 x 4.65m</p><p>17'6'' x 13'3''5.33 x 4.04m 13'9'' x 8'3''4.19 x 2.51m</p><p>15'6'' x 14'3''4.72 x 4.34m</p><p>Ground Floor </p><p>Second Floor </p><p>Third Floor </p><p>Lower Ground Floor </p><p>First Floor </p><p>Second Floor Mezzanine </p><p>NOTE:- Reproduced from the Ordnance Survey Map with the permission of the Controller of H.M. Stationery Office. Crown copyright licence number 100024244 Savills (UK) Ltd. NOTE:- Published for the purposes of identification only and although believed to be correct accuracy is not guaranteed.</p><p> Floorplans provided by BKR Floorplanners.</p></li><li><p> Pembridge Villas, Notting Hill, London Pembridge Villas, Notting Hill, London Prime Central London Residential Investment &amp; Development Opportunity Prime Central London Residential Investment &amp; Development Opportunity </p><p>Year 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024</p><p>Projected YoY % RPI Growth </p><p>1.2 3.0 3.4 3.4 3.4 3.5 3.6 3.6 3.5 3.3</p><p>Annual rent for following year if forecast realised </p><p>567,810 584,844 604,729 625,289 646,548 669,177 693,267 718,224 743,362 767,892</p><p>Lease The property is let to the Russian Federation on effective full </p><p>repairing terms for a term of 20 years commencing on 1st </p><p>January 2010 and expiring 31 December 2029, with a current </p><p>rent passing of 561,077 per annum. </p><p>The lease is subject to annual rent reviews linked to the Retail </p><p>Price Index (RPI). The lease allows for the property to be used </p><p>as a private residence or as a school for the children of the </p><p>staff or other persons connected with the embassy or consular </p><p>services of the government of the Russian Federation in </p><p>London or guests of such embassy. </p><p>The Russian Federation currently has a D&amp;B rating of O1 which </p><p>reflects a minimum risk of business failure. </p><p>Using RPI forecasts from the Office of National Statistics and </p><p>Haver Analytics the following rental increases are forecasted;</p><p>Over the past five years, Prime London has been the </p><p>strongest performing UK residential market, with average </p><p>values currently 30.8% above 2010 levels. Following the </p><p>General Election sentiment remains strong for Notting Hill </p><p>due to the quality of the location, built environment and </p><p>breadth of amenities. </p><p>The Royal Borough of Kensington and Chelsea has seen </p><p>particularly significant price growth and is currently 58% </p><p>above 2007 levels. Traditionally it has been the core Prime </p><p>Central London locations, such as Knightsbridge and Mayfair, </p><p>where Super Prime values have been achieved; however, </p><p>this has permeated in the past 12 months to neighbouring </p><p>locations. Notting Hill now falls within the core of Prime </p><p>Central London and benefits from a historic lack of new </p><p>build development sites, finite supply and high demand from </p><p>wealthy international buyers. </p><p>London is forecast to benefit from robust capital growth </p><p>with Savills Research forecasting 22.7% growth over the next </p><p>five years and 17.1% increase in Prime Central London rents. </p><p>Londons global status and political and economic stability </p><p>continue to attract ongoing high demand from equity rich </p><p>investors and owner occupiers.</p><p>The property allows an investor to enjoy an attractive RPI </p><p>linked income, as well as potential for good capital growth </p><p>prospects during the lease term. </p><p>Prime Central London Commentary</p><p>Typical classroom </p><p>Central London Forecasts </p><p>Capital Value: Prime Central London</p><p>2015 2016 2017 2018 2019 5 years</p><p>1% 8% 6.5% 5% 5% 25.5%</p><p>Rental Value: Prime London</p><p> 2.5% 3.0% 3.5% 3.5 3.5 17.1%</p><p>Common Parts </p></li><li><p> Pembridge Villas, Notting Hill, London Prime Central London Residential Investment &amp; Development Opportunity </p><p>Tenure...</p></li></ul>