[an error occurred while processing this directive]
BBC News
watch One-Minute World News
Last Updated: Sunday, 11 April, 2004, 11:49 GMT 12:49 UK
Mansion sells for a record 70m
Lakshmi Mittal
Mr Mittal already has a 9m home in London
A 12-bedroom mansion in west London has been sold for a record 70m - making it the most expensive house in the world.

Billionaire Indian-born steel magnate Lakshmi Mittal is the new owner of the property in Kensington Palace Gardens.

The mansion was formerly owned by the Formula One racing boss Bernie Eccleston and extensively renovated in the 1990s.

Many of the floors and pillars are said to be made of marble imported from the quarry used to construct the Taj Mahal.

The mansion is made up of a former Egyptian Embassy and a one-time annexe of the Russian Embassy knocked together.

Jewelled pool

It was extensively renovated in the 1990s by Iranian-born art collector and financier David Khalili.

Inside it has Turkish baths, a ballroom, an oak-panelled picture gallery and an jewelled basement pool and security is controlled by 65 state-of-the-art CCTV cameras.

Mittal, who owns LNM, the world's second-biggest steel producer, is thought to be worth 3.5bn.

He already owns a 9m house on Bishops Avenue in Highgate, north London.

A property which sold for 62.7m in Hong Kong in 1997, previously held the Guinness Book of Records title for the world's most expensive house.




SEE ALSO:


RELATED INTERNET LINKS:
The BBC is not responsible for the content of external internet sites


PRODUCTS AND SERVICES

News Front Page | Africa | Americas | Asia-Pacific | Europe | Middle East | South Asia
UK | Business | Entertainment | Science/Nature | Technology | Health
Have Your Say | In Pictures | Week at a Glance | Country Profiles | In Depth | Programmes
Americas Africa Europe Middle East South Asia Asia Pacific