A London mansion overlooking Regent’s Park that was once Britain’s most expensive house has been sold by a Russian businessman for £113m

Indian billionaire Ravi Ruia has bought Hanover Lodge from Andrey Goncharenko in an off-market deal, the Financial Times reported.

The 2,400 square metre mansion at 150 Park Road was built in 1827 and designed by John Nash, the architect of Buckingham Palace.

Grade II-listed Hanover Lodge was at one time the residence of the French ambassador to the UK and has a gym, sauna and a gallery, as well as accommodation for in-house staff and a swimming pool that can be converted into a ballroom.

Mr Goncharenko bought the property in 2012 from Conservative peer Lord Raj Kuman Bagri for £120m in what was at the time Britain’s most expensive property deal.