Published: Tuesday 27th of May 2008
Britain's wealthiest man, Lashki Mittal, is in negotiations to buy the property in Kensington Palace gardens, it has been claimed.
Kensington Palace is a must-see location on any royal London sightseeing tour as it is the former home of Lady Diana, princess of Wales.
According to the Daily Telegraph, Mr Mittal is trying to reach an agreement with the property's current owner, the Israeli-American financier Noam Gottesman.
A deal is expected to be worth around £117 million, which would be a new British record.
The four-storey neo-Georgian building has at least five bedrooms and extensive servants' quarters.
A property insider told the Telegraph: "It is the limited opportunities to acquire such a house as this, the rarity of these houses coming on the market, that makes it so expensive."
Fashion fans visiting Kensington Palace can currently see an exhibition of twelve dresses worn by the late princess from the early 1980s to the mid 1990s.
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