The Dutch embassy building in central London is to be sold as part of foreign ministry efforts to save €40m on its foreign network.

The embassy is located on Hyde Park and has not yet been formally put up for sale, the NRC reported. 

‘I can confirm we will sell our current building as it is too big and not suitable for modern diplomacy,’ London paper the Standard quoted an embassy spokesman as saying.

The new Dutch embassy will be located in Nine Elms, near Vauxhall, where a new diplomatic quarter is being created, the Standard said. It says the previous Dutch government bought the land which is close to the site of the new US embassy.