ALBERT GATE, HYDE PARK. Situated on ground purchased by government from the Dean and Chapter of Westminster and others, made 1844-6, at a cost of 20,844l. 10s 9d., and so called after H.R.H. Prince Albert. The iron gates were fixed 9th of August 1845, and the stags (from the Ranger's Lodge in the Green Park) set up about the same time. The lofty house of the notorious Railway King (on the east side of the gate) was bought by Mr. Hudson, of Mr. Thomas Cubitt, for 15,000l.
source: Peter Cunningham, Hand-Book of London, 1850