With a budget slightly beyond that of the average first-time buyer, Ms Ecclestone is set to purchase the 14-bedroom, Grade II listed mansion in Chelsea, west London from JCB digger tycoon Sir Anthony Bamford, according to the Daily Mail.

In what is perhaps a sign of the troubled property industry, even at the very top end of the market, the house has sat on the market for 18 months and a considerable amount has been shaved off its initial asking price of £79m.

Nevertheless, Sir Anthony Bamford, who has never lived in the property since buying it in 2006, will still make a healthy profit from the deal, having originally paid £45m.

The house, reported to be the most valuable in Chelsea, has its own driveway, six reception rooms, ten bathrooms, comes with a lodge next door and has planning permission for an underground swimming pool and gym.

Model-turned-fashion-designer Petra currently lives with her businessman boyfriend and four dogs in a seven-storey house in Eaton Square, Belgravia.

Sponsored

When asked why a single, first-time buyer wanted such a home, a “close friend” of Petra said: “She can afford it.”