A London home is set to smash the record for the most expensive property in Britain by going on sale for a staggering £250 million.

The Grade I listed Regency property in central London would cost potential buyers 700 times more than the £370,000 average property value in the capital.

The house, which is on Carlton House Terrace, enjoys views of St James's Park and is 30 times bigger than a typical London family house.

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According to the Evening Standard the property, which is described as the biggest private home in central London, is currently owned by an elderly member of a Middle Eastern royal family.

The owner has reportedly spent millions restoring the six-storey town house to their former glory.

A source told the Standard: “The building is very much as it was in its heyday. It would be for a new owner to put in the modern toys such as a swimming pool.”

The 'strictly confidential' brochure only shows black and white interior pictures taken in the 1890s because “for security reasons the current owner does not want many of the features photographed”, the newspaper says.

The previous record for a London sale is £136 million paid for a property at One Hyde Park in Knightsbridge.

According to reports the house has four storeys above ground and two below that could be converted into a spa, cinema or swimming pool.