Goodbye Mr Bond

Alan Bond, the Australian tycoon who won the 1983 America's Cup yachting trophy, is selling his four-bedroom Knightsbridge house for £6.25 million through Kaye & Carey

He bought the detached 1930s property two years ago for £4.5 million after upmarket designers Finchatton gave it an estimated £1 million makeover.

"Alan now plans to live full time Down Under," reports a neighbour. "Despite all the mod cons it feels slightly unloved because he never moved in."

In 1997 the Hammersmith-born former sign-painter was convicted of Australia's biggest corporate fraud and spent more than three years in jail. Helped by his second wife, Diana Bliss, he is now back in the Oz Rich List, with an estimated £129 million fortune.

In 1992 he sold his previous home, an 11-bedroom mansion in Cottesmore Gardens, Kensington, now worth £17.5 million, to convicted fraudster Lord Black of Crossharbour.