Thieves swiped £50 million pounds (NZ$100m) worth of gems and jewellery in a raid of a London home owned by the daughter of former Formula One mogul Bernie Ecclestone.

Tamara Ecclestone's £70m pound home near Kensington Palace, which has 57 rooms, was raided for almost an hour after she left the property for the Christmas holidays, UK media report.

"I don't have all the facts but given all the security at the house, I'm assuming it was an inside job. The police should be able to work it out shouldn't they?" Bernie Ecclestone told the Sun.

"Tamara is fine, she's not happy but thank god no one was in the house. No one was at home apart from security," he added.

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"It's all a bit funny at the moment. These things happen and you've got to get on with things."

Bernie Ecclestone is worth a reported NZ$4.85 billion and was chief executive of Formula One Group until 2017.

According to reports every single piece of jewellery that she had in a safe was taken by three raiders who evaded security.

Ecclestone's house is situated in a part of West London known as 'Billionaire Row'. Prince William and wife Kate live nearby as well as the Sultan of Brunei and Wang Jianlin, China's richest man.