Mystery Russian buys world's most expensive property on French Riviera

A Russian billionaire has bought a luxury villa on the French Riviera for a record £329m. Villa Leopolda between Nice and Monaco is thought to be the most expensive house bought since Lakshmi Mittal's £57m Kensington home in 2004.

Villa Leopolda, the unnamed Russian oligarch's record-breaking turreted mansion, is "one of the most sumptuous villas" on the Cote d'Azur, according to The Times. Villa Leopolda, which previously belonged to King Leopold II of Belgium, has a "commanding view of Cap Ferrat and the Mediterranean and is often listed as one of the world's most desirable residences".

Roman Abramovich's staff have denied that he is the new owner of Villa Leopolda and its two guest houses, all of which sit in 20 acres of grounds filled with olive, cypress and lemon trees. Frank Sinatra and Ronald Reagan are among the guests who are said to have attended parties at the villa when it was owned by the "Fiat tycoon" Gianni Agnelli.

Villa Leopolda is currently occupied by Lily Safra, the widow of a Lebanese banker, whose tranquillity at the villa is thought to be ensured by former members of the Israeli special forces. Mrs Safra is due to move in September.