By Katherine Clarke
June 7, 2018 10:45 a.m. ET
British heiress and socialite Petra Ecclestone is relisting her sprawling Los Angeles mansion for $175 million, a $25 million discount from its original asking price.
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.
No single home in Los Angeles has ever sold for this much. The record price was $110 million, set just in April by the sale of Hard Rock Cafe founder Peter Morton’s home in nearby Malibu, Calif. 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. Spokespeople for the couple didn’t respond to requests for comment.
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.
The street, Mapleton Drive, is also home to the mansions owned by music mogul Sean Combs and Sean Parker, a founder of Napster and the former president of Facebook, according to public records and people familiar with the street.
The daughter of Formula One billionaire Bernie Ecclestone, Ms. Ecclestone, 29, recently divorced from her husband James Stunt and has three children.
Spelling Manor is the latest Los Angeles mega-property to relist at a lower price in recent months. Developer Bruce Makowsky recently dropped the price of his Bel-Air spec mansion to $188 million from $250 million, for instance. And Le Belvedere, a Bel-Air mansion built by Mohamed Hadid, recently sold for $56 million; It was first listed for $85 million in 2016.