Fallen playboy's £4m humbling: Petra Ecclestone's ex-husband James Stunt sees his Belgravia home put on the market for a cut-price £8m

Spacious, luxurious and reassuringly expensive, it is a house fit for a tycoon.

And until recently it was home to playboy James Stunt. However, now it is not so expensive after all.

He has seen almost £4million wiped off the value of his once-prized villa in Belgravia, central London.

When he bought the stunning home for £11.75million in 2017 he was a gold bullion dealer and self-declared billionaire.

The former home of playboy James Stunt has seen almost £4million wiped off its value. Pictured: The home in 2018, with Stunt's luxury cars parked outside. Pictured: The home in 2018, with Stunt's luxury cars parked outside

When he bought the stunning home for £11.75million in 2017 he was a gold bullion dealer and self-declared billionaire. The home is now back on the market for a more modest £7.95million. Stunt, 38, is the ex-husband of Formula 1 heiress Petra Ecclestone

On Wednesday, after it was put on the market following his forced eviction, the asking price was a more modest £7.95million – a fall in value of £3.8million.

It is the latest humiliation for Stunt, 38, the ex-husband of Formula 1 heiress Petra Ecclestone. 

He put a brave face on his downfall this week by posting a photo of himself on Instagram in happier times with a painting by Anthony van Dyck, boasting to his 90,000 followers the picture 'at my new house behind me is worth £15million'.

His former home, the Belgravia mews house, is being advertised by upmarket estate agent Knight Frank. 

It says the four-storey home 'consists of a triple aspect reception room, a large kitchen/dining room, study, media room, gym with steam, bath and shower, wine cellar, laundry, guest WC and plant room'.

The price tag of £7.95million – a relative bargain – is likely to have been chosen to ensure a quick sale. 

The property was repossessed in March after Stunt was declared bankrupt and was understood to have fallen behind on repayments.

A team of bailiffs descended on the villa, accompanied by security guards, dogs and locksmiths. 

His former home, the Belgravia mews house, is being advertised by upmarket estate agent Knight Frank

They carted out an unidentified painting and several suitcases, and stuck a 'notice of possession' on the front door, saying a writ had been secured at the High Court to take control of the house.

The brash businessman, who once bragged of owning 200 supercars and that losing £5million in a casino meant nothing to him, also lost two luxury apartments overlooking Chelsea Harbour in London. 

Stunt, who updates his Instagram almost daily, complained at the time: 'This has already cost me £50million. They are taking my homes. I'm a billionaire.'

The property was repossessed in March after Stunt was declared bankrupt and was understood to have fallen behind on repayments. Pictured: The inside of the spacious home

Once worth an estimated £3billion, Stunt had his assets and cash frozen at the High Court in 2018 at the request of the Crown Prosecution Service in a 'proceeds of crime' restraint order. 

He faces charges of money laundering and forgery at a trial due to take place in 2022, but has repeatedly declared himself innocent.

In a rambling message on Instagram this week, he said: 'The CPS want to know about a bank account in Liechtenstein I have never heard of.' 

He added: 'Someone has gone to Liechtenstein and opened an account to frame me.'