Ecclestone buys Aaron Spelling property in Los Angeles for US$85 million

FOR IMMEDIATE RELEASE
Los Angeles, California, United States of America (Free-Press-Release.com) July 22, 2011 --
Petra Ecclestone, the daughter of F1 Supremo Bernie Ecclestone, has bought the Los Angeles home of Amercian film and television producer, Aaron Spelling.

The twenty two year old fashion designer paid a reported US$85 million for the US property.

Spelling bought the house from singer and actor Bing Crosby in 1983. The ‘Starsky and Hutch’ producer then demolished Crosby’s home and built his 5,300m2 mansion in its place.

The property, known as The Manor, is located in the Holmby Hills area of Los Angeles and is the largest single family home in California.

The Manor is set on six acres of land and has a total of fourteen bedrooms and twenty seven bathrooms. The property boasts a bowling alley, a gym, a movie theatre and parking space for one hundred cars.

Outside, there is a tennis court, a koi pond and a heated swimming pool complete with a pool house, a kitchen and a bar.

The mansion also has several rooms dedicated to specific activities such as; a wrapping room; a silverware storage room; a flower cutting room; and a beauty salon.

There is even a ‘Prince Charles Room’ where the heir to the UK throne once spent the night.

The service wing has five staff bedrooms along with two butler’s suites.

Aaron’s wife, Candy Spelling, put the property on the market with an initial asking price of US$150 million in 2009; three years after the ‘Charlie’s Angels’ producers death. This made it the most expensive residential listing in the USA.

Although Petra bought the estate at a discount, she is rumoured to have borrowed US$82.4 million from her mother, Salvica.

Bernie Ecclestone and Salvica divorced in 2009. Their divorce settlement left Salvica with an estimated fortune of US$1 billion.

However, this is not Petra’s first big money property purchase with parental assistance. At the end last year her father bought her a US$91 million, six-storey Grade II listed property in Chelsea, London.

Petra is set to marry her finance James Stunt in August.

Rebecca Smith

Rebecca Smith is a real estate journalist and author with over 15 years’ experience. She has published 3 books to date:

'The Definitive Guide to buying property in Thailand' - http://blog.oceanvillasgroup.com/the-definitive-guide-to-buying-property-in-thailand/

'10 simple ways to slash your marketing costs and sell more property' - http://www.ovgmarketing.com/10-simple-ways-to-slash-your-marketing-costs-and-sell-more-property/

'The Definitive Guide to buying property in Phuket' - http://blog.phuketoceanvillas.com/the-definitive-guide-to-buying-property-in-phuket/

Rebecca is currently the sales director for Ocean Villas Group and Phuket Ocean Villas.

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