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An Australian tycoon has paid nearly £9 million for a legendary prayer book that was once stolen by Hitler.

The Rothschild Prayerbook was created during the 16th century but is surrounded by mystery.

The cover is lined with gold and the pages are made of animal skin. Only one copy of the book exists and every one of the 67 paintings inside is considered a masterpiece.

Little is known as about its origins, and it disappeared for 350 years after the Renaissance.

In the early 20th century it was bought by the Rothschilds, one of the wealthiest families in the world, until Hitler looted it as the Nazis stole art from across Europe.

In 1942 it was sent to Vienna, but after the war Austria refused to return the book to the Rothschilds and it stayed locked in a vault seen by only a handful of people.

Seven years later the family finally got hold of the book again and it was auctioned at Christies in London to an anonymous buyer.

It resurfaced in 2013 in New York to be auctioned again. This time it was sold to an Australian billionaire, who until now has not been identified.

Now though Australian news programme Sunday Night has revealed the owner is Australian businessman and art collector Kerry Stokes.

Mr Stokes, 73 from Perth, is chairman of one of Australia's largest broadcasters the Seven Network. He paid $15.5 million Australian dollars (just under £9m) making the prayerbook one of the most expensive manuscripts in the world.

He told the programme he planned on making the historic artifact available for the public to see.

He said: "When I first saw it I didn't know where I should touch it. I started to turn the pages and the hair on the back of my arms stood up. It's just mind blowing."

Mr Stokes announced that the prayerbook would go on tour in Australia next year, with public exhibitions planned for Canberra and Melbourne.