Luxury residential developers to queue for Dutch Embassy sell-off

 
Kasmira Jefford
Follow Kasmira
THE DUTCH embassy has been put on the market, with the Kensington mansion block expected to fetch bids of over £150m.

The 75,000 square feet property at 38 Hyde Park Gate has been put up for sale ahead of the Dutch embassy’s move to Nine Elms near Vauxhall, in 2018.

It is the latest in a string of diplomatic missions and residences to be put on the market over the last year as foreign governments seek to take advantage of soaring property prices and demand from wealthy property investors wanting to snap up the embassies for conversion into luxury flats.

It follows the sale of the Canadian High Commission on Grosvenor Square for more than £300m in March and Galliard Homes’ acquisition of the former European Council for Foreign Relations building last year for £21m.

Cushman and Wakefield, which is advising on the sale, said the building could fit 18 luxury flats.

The site is expected to attract offers over £150m