London, Mar 1 : A palatial home with more than 10 bedrooms and a secure panic room has become the world’s most expensive single residential dwelling - after being sold for a record price of 80 million pounds.

The detached Victorian villa in west London smashes the previous high of 67 million pounds for Indian steel magnate Lakshmi Mittal's home in Kensington Palace Gardens.

The buyer of the property, which includes a swimming pool, an underground swimming pool, a gym, a sauna, a cinema is thought to be Ukrainian businesswoman and philanthropist Elena Franchuk, a friend of Sir Elton John, reports the Telegraph.

The five-storey house in Upper Phillimore Gardens, Kensington, has been undergoing extensive development for the past 18 months and will not be complete until April.

Until 1997, the property was a girls' preparatory school. It was bought in June 2006 by a firm of developers specialising in exclusive properties. (ANI)