The Royal Parks has appointed Knight Frank to explore future options for a key central London building and is now seeking Submissions of Interest to acquire a licence.

The Grade II listed 'Magazine' in Kensington Gardens has been identified for potential refurbishment and re-use as part of The Royal Parks' Better Buildings Programme, which aims to generate revenue to improve and enhance the facilities of the parks and the services provided to visitors, by making more effective use of park buildings. The programme has already brought about the refurbishment of nine Royal Parks' lodges for short-term residential lettings.

The Magazine may be appropriate for a wide variety of different uses subject to planning and listed building consent. Potential uses could include museum, educational, cultural, gallery, hospitality, catering or leisure. Proposals must be in keeping with the character and landscape of the park setting and comply with the objectives of The Royal Parks.

James Leaver, partner, Knight Frank, said: "The Magazine represents an exciting opportunity in a prominent building which is in a high quality park environment. It is also within the immediate catchment of the very best residential areas of west London. The potential is wide ranging and very exciting. We are looking forward to receiving a variety of innovative proposals."

Submissions of Interest are invited through Knight Frank by 9 October 2009.

Media enquiries:

Lucy Skipper
t: 0300 061 2145
e: lskipper@royalparks.gsi.gov.uk or

Katy Murray
t: 0300 061 2128
e: kmurray@royalparks.gsi.gov.uk

Notes to Editors

• The Magazine comprises approximately 8,000 sq ft on 0.81 acres and occupies a prominent position on West Carriage Drive, the road that runs from south to north between Kensington Gardens and Hyde Park, across The Serpentine Lake. The building is of exceptional historical and architectural interest and is listed Grade II. Built in the early nineteenth century as a munitions depot for the army in the event of a foreign invasion or a popular uprising, it has not housed munitions for the last 50 years. Part of the building currently forms part of park operations, which could be relocated as part of the development process. The main building is single storey but with potential to add a mezzanine space. The tarmac areas round the buildings are currently used for parking.
• This opportunity is being re-advertised and interest is invited from previous and new applicants.
• Submissions of Interest aim to establish what the market suggests for this site. The exercise is not a move to procurement but will inform any future plans for the sites. Should The Royal Parks wish to progress a particular option, a standard tender process would be adopted to select an appropriate partner. The proposal would then be subject to planning permission.
• Income generated from the project will be invested back into the parks for everyone to enjoy. Proposals must demonstrate a high standard of architectural, landscape and environmental design and complement park values. Proposals will be assessed in terms of how they benefit the public, and how the facility would complement existing park features and facilities.
• The Magazine will remain in the care of The Royal Parks. All external contracts are granted by way of a terminable licence. The licence for the Magazine sites would be likely to be at least ten years and not more than twenty and would need to be capable of being determined on 12 months' notice.

Knight Frank LLP is the leading independent global property consultancy. Headquartered in London Knight Frank and its New York-based global partner, Newmark Knight Frank, operate from 196 offices, in 38 countries, across six continents. More than 6,770 professionals handle in excess of US$700 billion (almost �355 billion) worth of commercial, agricultural and residential real estate annually, advising clients ranging from individual owners and buyers to major developers, investors and corporate tenants. For further information about the company, please visit www.knightfrank.com.

The Royal Parks is an executive agency of the Department for Culture, Media and Sport. The Royal Parks are: Bushy Park, The Green Park, Greenwich Park, Hyde Park, Kensington Gardens, The Regent's Park and Primrose Hill, Richmond Park and St James's Park. For further information please visit: www.royalparks.org.uk