Petra Ecclestone relists Los Angeles mega-mansion for $175 Million
June 22, 2018 - Los Angeles
Petra Ecclestone, the British socialite and heiress of Formula 1, relisted the iconic Spelling Manor for $175 million, a price chop from her $200 million asking price two years ago.
The new sticker price would still be a reach for the market though, considering the most expensive home ever sold in Los Angeles was $110 million.
Ms. Ecclestone had been taking a “wait and see” approach to selling the French chateau-style home when she first listed it for $200 million in 2016, according to the listing agents, Rick Hilton and David Kramer of Hilton & Hyland. Now, she is truly motivated to sell, Mr. Kramer said.
Mr. Kramer said his client had received offers on the property when it originally listed, but none were satisfactory. One of the offers came from entertainers Beyoncé and Jay-Z, according to two people familiar with the situation.
The property, known as the Spelling Manor, was built by late television producer Aaron Spelling around 1990.
Ms. Ecclestone bought it from Mr. Spelling’s widow, Candy Spelling, in 2011 for $85 million and employed more than 500 workers to completely renovate it.
The Holmby Hills estate totals roughly 56,000 square feet, making it one of the biggest private homes in Los Angeles.
It sits on 5 acres with seven bedrooms, seven staff bedrooms, a 30-foot-high entryway with a double staircase, a two-lane bowling alley, a wine cellar, a gym and a beauty salon with a massage area and tanning rooms.
The grounds include a swimming pool, a tennis court, a motor court with space to park 100 cars and formal gardens. Ms. Ecclestone has renovated some of the interiors since she last listed the property, including the master suite, Mr. Kramer said.
Source : WSJ
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