The latest property magnate in the making is Stella McCartney who purchased a former chapel on the Golborne Road back in July this year. Conveniently situated for trawling for inspiration through Portobello market, the building has recently been used as a second-hand furniture store.

Now that she’s got her first collection under her belt for Gucci, McCartney is rumored to be spending approximately $715,000 on converting the huge open plan building into a studio space and luxury flat. It is believed that she plans to base the design studio for her new label at the chapel.

She's not the only celeb to have recently invested in a run-down property in the area. Heartthrob thespian Joseph Fiennes and his girlfriend, make-up artist Fiona Jolly, paid $1.7 million for a six bedroom, four-storey squat back in June.

McCartney’s new Notting Hill neighbors will range from Claudia Schiffer and her current fiancé Matthew Vaughn, through to Britpop bad boy Robbie Williams. The fashion pack has traditionally lived in the area, with Julien MacDonald, Luella Bartley, Patrick Cox and model Laura Bailey all nearby.

And, just in case she wants to keep in touch, her former label mate back at Chloé, Phoebe Philo, lives just down the road.