Younger models have challenged her for the title, but even at 44, Elle Macpherson is proving she's still The Body.

The model turned multimillionaire business woman put her knock-out figure on show during a photoshoot in London yesterday.

All eyes were on the star - and her plunging waistcoat as she worked her magic for the camera on a balcony in the capital's centre.

Glam: Elle Macpherson strikes a pose during a photoshoot in London yesterday

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Elle

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Elle

She looked as happy as ever, flashing her trademark smile between takes, but sources say the model is preparing to move back to her native Australia to escape the demanding pace London life.

"Elle has had enough of living in London," a friend said last month.

"She just finds it too busy. She has decided she wants to move back to Australia for a more simple life."

Hat trick! Elle shows her playful side during the shoot

She has lived in the capital for nearly ten years, sharing her Notting Hill home, estimated to be worth £8million, with sons Flynn, nine, and Aurelius Cy, four.

Having earned a £45million fortune from her modelling work and lingerie business, Elle has previously hinted that she might one day consider quitting Britain.

Although her spokesperson wouldn't comment her plans, the star, who has also has a holiday home in the Bahamas, says she's happiest when by the ocean.

She told a magazine recently: "The Bahamas mirror what I imagine my life in Australia would be like."

"I wake up and go for a surf. I'm an earth mother, 100 per cent there for my kids, and there's no work."

She has recently denied links to Vito Schnabel - the 21-year-old son of Oscar-nominated director Julian Schnabel.

Elle and Bryan have been romantically linked, on and off, for the past year.