Thursday, May 22, 2008

The world’s costliest home is set to be sold for £117m | The Sun |HomePage|News|Sun Money

A MANSION in London is set to sell for £117million – making it the world’s costliest home.

The palatial residence, on a street dubbed Billionaires’ Row, is believed to have been bought by Britain’s richest man, steel tycoon Lakshmi Mittal.

Steel yourself for the cost ... magnate Mittal is forking out £117m

Tycoon ... Lakshmi Mittal

He is believed to be close to exchanging contracts with owner Noam Gottesman, 47, a US-born financier.

The home in Kensington Palace Gardens, West London, Princess Diana’s former street, is being sold furnished and with an art collection. It works out at an astonishing £8,000 per square foot.

Mr Mittal, 57, who denies being the buyer, has been looking to splurge some of his £27.7billion fortune on a home for son Aditya, 32.

Mr Mittal moved into the half-mile, tree-lined private avenue four years ago after paying £67million for a 12-bedroom home.

His new pad pips the £115million previous record – paid in March for a flat being built in nearby St James’s Square.

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