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Meghan Markle will be moving into Prince Harry's royal residence of Nottingham Cottage, it has been confirmed with the exciting announcement that the couple are engaged to marry next year.The charming pied-a-terre, located on the grounds of Kensington Palace, has been home to the 33-year-old royal for four years, and is considered modest in terms of the other residences in and around the palace.It has two bedrooms – a master bedroom and guest room/den, a small living room, a smaller dining room and two bathrooms, reports Hello!. It is considered "small" by royal standards, particularly in comparison to the Duke and Duchess of Cambridge's iconic Apartment 1A next door, which has 22 rooms. William and Kate – who are currently expecting their third child – along with Prince George, four, and Princess Charlotte, two, will become Markle's new neighbors. The cottage has become a second home to the Suits star – who has split her time between London and Toronto where she filmed her hit legal drama. No doubt the actress will be making personal touches to her new home, and bringing her beloved pet dogs, Guy and Bogart, in with her soon.Markle will be provided with round-the-clock security both at home and when she is out about in in the capital. She was recently photographed shopping on the King's Road in Chelsea with a female companion.Kensington Palace has served as a royal residence since 1689, becoming home to royals including George I, George II and Queen Victoria. Harry's late mother Princess Diana also lived there.Markle was previously living in a two bedroom house in a quiet middle class residential area of Seaton Village in Toronto, which had two bedrooms, a living room and dining room, a small back garden and a garage.Clarence House confirmed the exciting news that Harry and Markle are engaged earlier today, with the Queen declaring that she and Prince Philip 'are delighted for the couple and wish them every happiness', a Buckingham Palace spokesman said.The couple will marry in Spring 2018.