London's most expensive house: Knightsbridge mansion goes on sale for £300m

It’s thought to be the most expensive property ever marketed in London, and was formerly owned by Sultan bin Abdulaziz, the crown prince of Saudi Arabia, who died in October last year.

The next deep-pocketed buyer will be gaining a seven-storey house with an elegant stuccoed facade overlooking Hyde Park. The 60,000ft property at 2-8a Rutland Gate is rumoured to include a swimming pool, vast kitchen and lavish interior decor incorporating millions of pounds worth of gold leaf.

Unsurprisingly given the astronomical asking price, the house isn’t for sale on the open market but is discreetly being offered by agents to a select handful of potential purchasers.

Property expert Henry Pryor said: "The list of people who can afford it would be very brief, and will be on the Forbes 500 list. The person who buys it will be looking for the opportunity to have one of the best addresses in London – it's a trophy rather than an investment."

House prices across Britain have slumped by almost 10% since 2007 and many would-be buyers struggle to save enough for a deposit. But it’s a different story at the top of the housing market, which continues to drive up average London prices, with overseas buyers making the majority of purchases. In July alone, 34 properties were registered as selling for more than £5m. The most expensive of them, in Farm St, Belgravia, cost £28,134,500.

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