The ceiling price for multi-million pads in London has just been raised by over £150 million - because a mansion overlooking Hyde Park (pictured) is on the market for a record-breaking £300 million.

So what do you get for your money, and what does this mean for the market?

The property

The property, once owned by Lebanon's late Prime Minister Rafiq Hariri, is not open for just anyone to consider. The sale was revealed by the Financial Times, as the estate agents are only marketing the property to a few selected international clients.

If you're one of the lucky few, there is a fair chunk of property for your money. It has 45 bedrooms and is thought to house a swimming pool and underground parking in over 60,000 square feet. Originally it was four separate homes, but it was knocked through to create one gigantic property.

Insane price

Before this sale was announced, the most expensive property ever sold was the penthouse flat at One Hyde Park, which sold for £150 million in 2010. This property is almost double the money - but per square foot, it's a relative bargain.

In fact, in an area of London where shoeboxes in the sky are starting to fetch almost £500,000, this insane figure starts to look almost run-of-the-mill for a property of this size.

So will it fly off the shelves?

We reported yesterday that the summer has seen something of a weakness in the top end of the market. Londoners have shaved off 1% off the asking prices of the most expensive properties in the capital over the summer, and there are questions as to whether this will set in as a longer-term trend.

However, it's worth bearing in mind that even with the current small setback, these properties are still up over 16% in a year. In addition, these figures look at a much broader swathe of properties which can be affected by market movements.

At the very top of the London property market are individuals with such riches that £300 million is a drop in the ocean. Despite global economic turmoil, they are still sitting on billions of pounds and looking for ways to spend it. For one lucky buyer, almost a third of a billion could be sunk into a swanky new London pad.

And, contrary to all sensible expectations, it's not going to take the agents long to track that buyer down.

Lawrence Hall of Primelocation.com said: "This is an exquisite trophy home that many of the world's super-rich would no doubt love to own. And for those in the property big leagues, price is often secondary to the show-stopping facets the property has to offer. Traditional valuing methods can be applied to a property like this, but at the end of the day, the final price will come down to demand from a very small pool of buyers. Features such as swimming pools, underground parking and bullet-proof windows are enough to command extremely high prices in most locations in London. But add 45 bedrooms and wrap them up in a location that over-looks Hyde Park and you've got a property that puts its more modern neighbours in the shade. It's perfect for a billionaire's trophy cabinet."

But what do you think? Can any property ever be worth this much money? Let us know in the comments.

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