A luxury south-west London apartment with links to Princess Diana could be yours for a very reasonable £5.25 million.

The property is situated in super-posh Cadogan Square in Knightsbridge and investors can rent it out for an eye-watering £1,000 a night.

The four-bedroomed apartment was converted from two smaller flats, and boasts high ceilings, dual street entrance, its own private patio garden and access to two private communal garden squares in Knightsbridge.

It only has a tiny patio garden, but Hyde Park, Green Park and Battersea Park are all within reasonable walking distance, so you wouldn’t be short of outside space for a picnic.

The royal connection comes courtesy of Sarah-Jane Gaselee, who at the age of eleven was one of five bridesmaids at Princess Diana’s "wedding of the century" to Prince Charles in July 1981.

The Cadogan Square apartment was the Gaselee family home for many years.

Sarah-Jane is the daughter of well-connected racehorse trainer Nick Gaselee, who himself rode to victory at Cheltenham in the 1960s, and went on to become a close friend of Prince Charles.

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Sarah-Jane herself came to regard Diana as a “big sister” and recalled “I remember Diana giving me a piggyback ride when she asked me to be her bridesmaid.”

She has fond memories of the days itself: "The roar was deafening. It seemed the whole world was cheering. It was overwhelming,"

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Sarah-Jane stayed in contact with Diana for several years after the wedding: “She would often write to me when I was homesick at boarding school,” she told posh people’s bible Tatler Magazine.”We kept in touch solidly until I was about 18”.

She eventually sold her bridesmaid dress to Diana's brother, Earl Spencer, in 1999 – a decision she now says she “bitterly regrets”.

Her brother James told the Daily Mail: ”She now bitterly regrets it, but she needed the money at the time. She got criticised, but the truth is she was a bit hard up as a youngster and needed the cash.”

Sarah-Jane is thought to have got around £11,000 for the Elizabeth Emanuel-designed dress.

She went on to become a property developer, buying and renovating half-a-dozen luxury London properties with her ex-partner, film producer Paul Andrews.

As well as her Knightsbridge family home, she’s also flogging the idyllic 10-bedroom Bellevue Plantation and Polo Estate at St. Michael, on Barbados, which is on the market for $5 million.

The Knightsbridge property offers access to is one of London’s most prestigious neighbourhoods. It's the posh-people's favourite place to shop, with Harrods and Harvey Nichols. right on your doorstep.

Cadogan Square is just a six-minute walk from Sloane Square tube station and if you fancy a bit of culture the Victoria and Albert, Science and Natural History museums are within easy walking distance.

Sotheby's, who are handling the sale, say they recently arranged a short let tenancy on the apartment for 10 weeks at £1,000 a night, and say a longer let could yield rentals of something like £3,500-£4,000 a week, so you could make your money back in 23 years.

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