By LAWRENCE TAN

Villa Leopolda set a record for being the world’s most expensive property when it was sold to an anonymous Russian oil oligarch for a record £390 million.

The princely sum dwarfs the previous record of £70 million when Indian steel tycoon Lakshmi Mittal purchased a property (which he now calls home) in Kensington Palace Gardens in 2004.

The cream-colored villa commands stunning views of Cote d'Azur (or the French Riviera), overlooking Cap Ferrat near Villefranche-sur-Mer.

The Belle Époque mansion is nestled within 20 acres of gardens with 1,200 olive, orange, lemon and cypress trees, and the attention of 50 full-time gardeners.

Originally constructed for King Leopold II of Belgium, who used the villa as a summer retreat, the property has since changed hands a couple of times. During World War I, King Albert I used the villa as a makeshift hospital for wounded officers.

The Agnelli family of the Fiat marque were the next proud owners, and the villa served as a party house for the likes of Frank Sinatra and Ronald Reagan in the 1960s.

Former Microsoft chairman Bill Gates was at one time reported to be interested in acquiring the property while Russian billionaire Roman Abramovich has also been recently linked.

However, it seems current owner Lily Safra, widow of Lebanese banker Edmond Safra, has now decided that the time is right to part ways with her prized asset.

via Telegraph / The Huffington Post