London, Aug. 3 (ANI): Music legend Prince is reportedly in negotiations to have a luxury, five-bedroom mansion built for him in London's O2 Arena, formerly the Millennium Dome.

If the diminutive singer's talks materialise, the site's owner AEG will foot the bill.

Prince, who recently started his 'Earth Tour', wants to use the house as a base for all his future visits to London.

"Prince's people approached us with the idea a few months ago. He has had some pretty wild nights out in London and loves all that the capital has to offer, so it makes sense for him to have a more permanent base here," the Daily Mail quoted a property source as saying.

"And with the Docklands increasingly becoming a trendy area to live, he obviously wants to capitalise on this. Plus, with more and more gigs and events being held at the O2, he will always be just a stone's throw from the action," the source added.

The newspaper also reports the prefabricated house is to be built on an unoccupied site adjacent to the 02 arena, and that it will the only home in the area.

Presently, the singer is staying in a Presidential suite worth 2,100 pounds per night at a five-star hotel in the capital's Docklands.

His room comprises of a fully-stacked bar, secret lift entrance and a king-size, walnut leather-finish bed.

A spokesman for AEG declined to comment on the matter, while that for Prince denied that the singer was buying a house. (ANI)