French palace with underwater moat lounge sold at world record price by Cogemad

A mansion outside Paris has fetched a world record price of more than €275 million ($417 million) with Chateau Louis XIV sold to a Middle Eastern buyer.

The chateau was built as an exact scaled down replica of the Chateau de Versailles

Christie's International Real Estate was involved in brokering the deal for Cogemad which developed the palace, according to Bloomberg.

The villa is in a 23-hectare park between Versailles and Marly-le-Roi.

It took three years to construct, according to Cogemad's website.

The house is fronted by a fountain covered in gold leaf.

"With elegantly planted parterres, a gleaming gold-leafed fountain, an infinite array of flowers, marble statues, bridle paths and a hedged labyrinth, the property's park and gardens evoke the genius of Le Notre, " Cogemad said on its website, referring to the gardener of King Louis XIV of France.

The leading French design and real-estate development company was founded 25 years ago by Saudi-born international businessman Emad Khashoggi.

Headquartered in Paris, the company is acclaimed for its sophisticated renovations of historic French palaces.

The Chateau Louis XIV with its Grand Siecle décor takes its inspiration from the 17th century architects such as Louis Le Vau, François Mansart and Claude Perrault.

There is an underwater lounge in the Chateau Louis XIV submerged in the moat surrounded by thousands of fish. 

The previous confirmed record price for a home was set when a penthouse in London sold for about $US221 million in 2011.

Of course Title Tattle recalls Russian billionaire Mikhail Prokhorov lost a 10% down payment on a €390 million villa in southern France after he failed to complete the purchase, a court ruled in 2010.