The Nepalese embassy on one of London's most exclusive streets could be sold for more than £100million - sparking anger among Gurkhas.
The exclusive property is situated in Kensington Palace Gardens in west London which is one of the world's most exclusive roads with homes rarely coming onto the open market.
The potential sale has sparked anger among the Nepalese in the UK and abroad, because of the close links between Britain and Nepal.
If the property is put up for sale, it is bound to spark interest from some of the world's richest people.
Exclusive property: The Embassy of Nepal on Kensington Palace Gardens which could be sold for more than £100million
Billionaire's row: The privately-guarded road by Hyde Park is one of the most exclusive streets in Britain - with the 29 properties worth an estimated £3.4billion
Nepalese government officials have sent a committee to London to explore the option of selling 12A Kensington Palace Gardens.
The guarded street, dubbed 'Billionaire Boulevard', is home to embassies, ambassadors and a number of top businessmen.
Number 12A, built in 1865, was gifted to the Nepalese in 1937 as a thank you for the heroic help from the Gurkhas to the British armed forces. Soldiers regard the Victorian Villa as a priceless part of their history.
Nepalese foreign ministry spokesman Arjun Thapa said they have not yet decided whether to sell the property.
'I want to make it clear to you that the government has not taken any decision, so it all depends on the recommendation of the team,' he told the BBC.
THE GURKHAS: NEPALESE MEN FIGHTING FOR BRITAIN
'Better to die than be a coward' is the motto of the world-famous Nepalese Gurkha soldiers who are an integral part of the British Army.
They still carry into battle their traditional weapon - an 18-inch long curved knife known as the kukri.
After suffering heavy casualties in the invasion of Nepal, the British East India Company signed a peace deal in 1815, which allowed it to recruit from the ranks of the former enemy.
Following the partition of India in 1947, an agreement between Nepal, India and Britain meant four Gurkha regiments from the Indian army were transferred to the British Army, eventually becoming the Gurkha Brigade.
Since then, the Gurkhas have loyally fought for the British all over the world, receiving 13 Victoria Crosses between them.
More than 200,000 fought in the two world wars, and in the past 50 years they have served in Hong Kong, Malaysia, Borneo, Cyprus, the Falklands, Kosovo and now in Iraq and Afghanistan.
They serve in a variety of roles, mainly in the infantry but with significant numbers of engineers, logisticians and signals specialists.
The name 'Gurkha' comes from the hill town of Gorkha from which the Nepalese kingdom had expanded.
The exclusive Number 12A Kensington Palace Gardens was given to Nepal as a thank you to the Gurkhas who served in the British armed forces.
They pay a nominal £1,000 a year rent on the crown lease, but the mansion - which has remained untouched for half a century - requires more than £5million in essential repairs.
The rundown property, which backs onto Palace Green, has been described as a 'national embarrassment' in its current condition.
Toilets don't flush, the roof needs repairs and visa applicants are greeted by the sound of pressure cooker whistles from upstairs.
But despite the 32,000 square foot property's dilapidated state, there is likely to be a bidding war the moment the property is officially made available.
Trevor Abrahmsohn, from Glentree Estates, sold Bernie Ecclestone's house on Kensington Palace Gardens to Lakshmi Mittal in 2004.
He is familiar with the Nepalese embassy but believes it will need tens of millions spent returning the property to its former glory.
The agent said: 'The building has the most remarkable, majestic entertaining reception overlooking the garden. The entrance hall and the grand staircase are quite extraordinary.
For sale? The Nepalese government have sent a committee to London to consider selling off the exclusive property
'It is evident that in its heyday this property was one of the grandest mansions in the capital but very little has been spent on it in the interim and it does appear to be stuck in a time warp.
'The property will probably need considerable restoration and refurbishment that could mean anything up to £40 million.
'With all the embassies in the road, security is probably higher than any other private road in the UK. This is why it is so sought after amongst oligarchs who crave their privacy and protection.
'The mansions in the road are surrounded with sizeable gardens and that is unique in central London.
'Of course, once you exit this road you are literally in the centre of London.
'Since there are very few properties in this road available at any time, of the few people able to afford it, there could certainly be a bidding war.'
Gary Hersham, director of Beauchamp Estates, added: 'The house is spectacular and worth £100 million-plus. There will be no shortage of interest.'
With house values on Kensington Palace Gardens standing at around £6,000sq/ft, a fully restored 12A could be worth around £180 million.
However, any potential sale will be met with disgust by the proud Nepalese, who regard the four-storey mansion as an enormously important part of their nation's history.
Heritage: The exclusive No 12A Kensington Palace Gardens was given to Nepal in 1937 as a thank you for the work of their Gurkhas in the British armed forces
It was the country's first embassy and the lease was extended for another 99 years in 1980.
Major Tikendra Dal Dewan, from the British Gurkha Welfare Society, described the mansion as 'precious'.
He said: 'We understand the government sent a committee of seven to look at the property but no decision has been made yet.
'There is a strong emotional side to the story. We have had a relationship for 200 years with the UK through the Gurkhas and this is a unique building to us.
Exclusive address: The guarded street, dubbed 'Billionaire Boulevard', is home to embassies, ambassadors and a number of top businessmen
'It is a very precious thing to us and we have written to the ambassador about it and strongly aired our views.
'We want to pressurise the government to change their decision. It is a unique bond that we have with the UK, and no other countries have the same relationship.'
Kensington Palace Gardens is owned entirely by the Crown Estate so only leasehold sales are possible.
The road is next to Kensington Palace, the residence of the the Duke and Duchess of Cambridge, and has some of the world's most impressive homes.
Exclusive: A 12-bedroom mansion on Kensington Palace Gardens which was bought by Britain multi-billionaire steel magnate Lakshmi Mittal
Embassy street: The Russian Ambassador's official residenence on Kensington Palace Gardens
Despite making up just 29 properties, it is estimated the total value of the properties is in excess of £3.4billion.
The entire 2,600 properties in the Cotswolds town of Chipping Norton, in comparison, make up just one sixth of the value of Kensington Palace Gardens.
It has the Russian, Lebanese, Romanian, Slovakian, Czech and Norwegian embassies along with the ambassadors' homes of a number of countries.
The Saudi royal family, as well as the Sultan of Brunei have homes as does Russian oligarch Len Blavatnik and Foxtons founder Jon Hunt. The Mittal family own several homes.