As the rumoured retail release of the PlayStation 3 hovers around 23 March, with Sony expected to confirm the fina date in the coming days, it has been reported by GamesIndustry.biz that the 60GB model of the PS3 will hit UK stores for £425.00—which is a figure offered forth some time ago by Ray Maguire, the head of Sony UK.

According to GI.biz, "Several retail execs have confirmed that the GBP 425 figure is correct, and said they are expecting an official announcement from Sony next week."

Oddly, it is also thought that the (cheaper) 20GB model of the PlayStation 3 will not initially be available in the UK. Hmm, Sony angling to bag as much cash as possible at the console’s launch with 60GB availability only? Now there’s customer care in action.

Furthermore, the 60GB version will arrive across most of Europe for €599, which, when compared to the Pound-to-Euro conversion, leaves the UK model at just shy of €647 beside its European counterparts. Nice. In order to strive for critical balance, we should also convey that GI.biz points out that: "One retail source said that the higher UK price has not been driven by Sony but by British retailers, who traditionally seek bigger profit margins than their Continental counterparts."

The 60GB price in Ireland will be set to €629,99, which is apparently a result of higher value added tax (VAT).

GamerSquad doesn’t doubt the initial wave of attention that the PlayStation 3’s retail arrival will inspire, yet it’s hard to see anyone but the most ardent of Sony fans coughing up the gargantuan £425.00 notes. Roll on 23 March.