The home owned by Britain's most infamous child sex abuser Jimmy Savile has finally been sold - but only after £75,000 was slashed from the asking price.

Savile lived in the property at Lake View Court in Roundhay, Leeds, until his death in 2011.

It had been expected to fetch up to £325,000 until allegations of child abuse by the former Jim'll Fix It presenter surfaced last year.

Savile's reputation was destroyed by a litany of allegations by victims, who revealed the BBC star exploited his position to gain access to young children and teenagers.

As a result of the allegations, the value of the property plummeted.

His three-bedroom penthouse with a parking space eventually sold this month for £250,000. It also comes with stunning views of Roundhay park, visible from a balcony overlooking a clump of trees.

Now the gaudy residence, with gold print and animal theme decoration, is set to be demolished by the new owners, severing the link with Savile.

A spokesman for the Leeds-based business which purchased the Penthouse explained what will happen next.

New owner CXI 92 Ltd told the Daily Mail: "I'll be honest, we negotiated a good deal and we bought the property because of the low price.

"I can tell you that we are going to demolish the property and completely rebuild it before selling it or possibly using it as a rental property.

"We are going to demolish it in the next six months to two years because of the terrible, terrible condition it is in."

It is not clear what will happen to the proceeds from the sale. Savile's estate will get the money, but its assets have been frozen by the executor, NatWest bank.

Thirteen police forces investigated allegations against Savile after his death, uncovering a reign of abuse which lasted decades.

The scandal also rocked the BBC when it was revealed the Corporation repeatedly failed to take action to stop Savile. Director General George Entwistle was forced to resign from his post, only weeks after being appointed.