A mansion in London has been sold for a world record 70 million.

The 12-bedroom property in Kensington Palace Gardens was bought by steel magnate Lakshmi Mittal.

The previous record was 62.7 million in 1997 for a property in Hong Kong.

The mansion is 55 times bigger than an average house and has garage space for 20 cars.

It consists of the former Egyptian Embassy and a one-time annexe of the Russian embassy.

The property was renovated in the 1990s by Iranian-born art collector and financier David Khalili, who imported marble for its floors and pillars from the quarry used for the Taj Mahal.

The house was sold by Formula One racing boss Bernie Eccleston, who bought it for 50 million three years ago but never lived in it.