LONDON—Cushman & Wakefield is advising the Kingdom of the Netherlands on the sale of its London embassy.

The 75,235 sq ft property, at 38 Hyde Park Gate in London’s SW7, has been home to the Kingdom of the Netherlands since 1953 and offers panoramic views over Kensington Gardens and Hyde Park.

Subject to planning, the red brick mansion block located opposite Kensington Palace could potentially be redeveloped into 18 luxury apartments to create an internationally significant ‘super prime’ central London residential project.

“Hyde Park Gate, one of London’s most sought after addresses, provides a rare opportunity to create a vast single residence or multiple apartments adjacent to Kensington Palace, the former home of Princess Diana,” said Jack Simmons, head of Cushman & Wakefield’s UK residential development and investment team. “This property will undoubtedly become the envy of the world.”

The listing follows the Dutch government finalizing a deal last year to move its London embassy to the major new diplomatic quarter in Nine Elms, SW8.

As part of the sale, the purchaser would lease the 122-year-old property back to the Kingdom of the Netherlands until 2018, which is when the Nine Elms embassy will be ready for occupation.