London, July 30 - It hasnaet been a brilliant week for Lakshmi Niwas Mittal.

First the chairman and main owner of steelmaker ArcelorMittal was reported to have put his as Summer Palacement, an 11-bedroom mansion set over an acre of land in north London, for rent.

Then his company reported losses for the third consecutive quarter.

Like his other neighbours on The Bishops Avenue in Hampstead locality, the Indian-born billionaire has reportedly struggled to sell his property in a climate of recession.

Mittal bought the house -- it has 11 bedrooms, 12 bathrooms and six reception rooms, and a glass lift to a swimming pool -- for 6.75 million pounds in 1996.

After moving to the plusher Kensington Palace Gardens in 2004, into a 15-bedroom house he bought for a record 57 million pounds, Mittal put the Summer Palace up for sale.

But, apparently unable to find a buyer for a home that is worth around 40 million pounds, Mittal -- Britainaes richest man -- is now looking for tenants.

The rent wonant suit everyoneaes pockets: Trevor Abrahmsohn of Glentree Estates, a company that has swung several deals on The Bishops Avenue, estimates that the Summer Palace could fetch 10,000 pounds a week.