Martin Freeman stars in first trailer for the final chapter of fantasy epic The Hobbit

and

lead the final chapter of

in this first beautiful trailer for

"One day I'll remember everything that happened", remarks the narrator, Bilbo Baggins, played by

star Martin, before adding: "The good, the bad, those who survived, and those who did not."

Set sixty years before

, the fantasy epic

follows Bilbo Baggins on his quest to win a share of the treasure guarded by the dragon, Smaug.Reprising their roles include Orlando as the Sindar Elf Legolas,

as a Woodland Elf named Tauriel, and Sir Ian McKellen as the wizard Gandalf.

provides the motion-capture and voice for the character of Smaug.

Sir Ian McKellen reprises his role as Gandalf

This third film in the franchise, preceded by

(2012) and

(2013), makes extensive use of the appendices that Tolkien wrote to expand the story of Middle-Earth, and which were published in the third Lord of the Rings book,

, the incredibly successful fantasy films, directed by Peter Jackson, have spanned 13 years since the first Lord of the Rings film was released.

The Hobbit: The Battle of Five Armies is out in cinemas later in 2014

, resulting in razor-sharp picture quality. "I really think 48 frames is pretty terrific and I'm looking forward to seeing the reaction," Peter said of the first film in 2012. "It's been talked about for so long, but finally the film is being released and people can decide for themselves."