The luxurious Californian estate known as 'The Manor' has suffered a $10 million price cut after languishing on the market for nearly a year at its original jaw-dropping list price of $165 million. Now available for a reduced $155 million, it is bigger than the White House and boasts an incredible 123 rooms. Home to a number of celebrity owners, including the Spelling family, the property last sold four years ago for just shy of $120 million.
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When the property sold in 2019 for almost $120 million, the price set the record for the most ever paid for a residence in California. However, even if an offer had been made at the original list price, the palatial pad wouldn't have broken the California record again, as mega-stars Beyonce and Jay-Z broke that record, by purchasing their extraordinary new home in May 2023 for the staggering price tag of $200 million. In fact, it’s the most expensive home ever sold in California, and the second-most expensive property deal in US history.
The Manor, a French chateau-style home, sits in the upscale Holmby Hills neighborhood, with members of the Forbes rich list and celebrities such as Kylie Jenner for company. One of the greatest and grandest private residences in the whole of LA, it sits on almost five acres of flat land and borders the renowned LA Country Club, according to the listing. With these credentials, perhaps it's not surprising that the home innitially hit the market at $165 million, more than a 25% increase in three years according to Mansion Global.
However, given Redfin's reports that the luxury housing market plummeted by a shocking 38% in 2022, it is perhaps equally unsurprising that this grandiose residence has struggled to secure a buyer. Indeed, according to Dirt, an increasing number of homes priced above $10 million have been stuck on the market, and price cuts in the multimillion-dollar range are becoming both increasingly common and substantial. Let's take a look at this stately home's history and see what all the fuss is about.
The house comes with impeccable credentials and has long been considered one of the city's most recognizable homes. The late TV show producer Aaron Spelling and his wife Candy built the 56,000-square-foot mega-mansion—complete with a humidity-controlled storage room, a flower cutting room, a gift-wrapping room and even a barbershop—in 1988, naming it 'Candyland'. There was also a dedicated space for Candy's doll collection and a basement bowling alley. In the summer of 2011, five years after her husband's death, Candy put the house on the market and sold it for $85 million in cash to the Formula One heiress, Petra Ecclestone.
Immediately after taking possession of the home in June 2011, Ecclestone overhauled the design of the mansion and hired designer Gavin Brodin to undertake the humungous task. In 2016, she decided to sell up with the property being on and off the market for three years. Originally priced at $200 million it was eventually dropped down to $160 million.
The property was finally sold for a record $120 million. According to reports at the time, the buyer was rumored to be Canadian multi-billionaire Daryl Katz. The owner of the Edmonton Oilers ice hockey team was said to have purchased the property at the beginning of July 2019. However, according to The Wall Street Journal, the property was sold to an unidentified Saudi Arabian buyer. And according to Dirt, the buyer bought the place “sight unseen”, meaning without ever having viewed it in person. So let's take a look at what the house looks like now...
Outside, a long, winding driveway leads to a circular motor court, fountain and space for 100 cars. The classical façade is created from made from imported limestone and guarded by impressive bronze lions and makes a regal first impression
So, what has warranted the (initial) $45 million price increase? Although it is not known what upgrades have been made since the property changed hands, this new listing image of the grand foyer shows that the current owner appeared to be a fan of former owner Petra Ecclestone's monochrome tastes, as it appears largely unchanged.
Vast and plush, the house is perfectly set up to host VIP guests and the formal living room is no exception. Decorated in a stately style, the vast white-on-white space has three separate seating areas, an open marble fireplace, and a grand piano.
The second—and less formal—living room has been decorated in a cool gray palette using darker colors. Swapping out the original built-in bookcases that were added by Spelling, Ecclestone added two aquariums and a bar. The current owner must have been a fan, who needs books when you've got fish?
The formal dining room is decked out in more monochrome with strong black accents. The 22-seater dining table sits below the low-hanging crystal chandelier, crowned by a black ceiling rose. A mirror adorns the wall and the French doors lead outside to the expansive garden.
If you think the above-ground floors are amazing, just check out the basement. Designed to resemble a nightclub, it features a bar, pool room and two-lane bowling alley.
There is also a cinema with 20 custom theater seats, where Petra and her ex-husband James Stunt used to screen movies for their friends. With two tiers of comfy seats, carpeted flooring, a coffered ceiling and a movie screen that rises from the floor, it's the ultimate place to sit back and relax.
This room was once used for Candy Spelling's doll collection but Petra had it converted into a spa complete with a massage parlor, three hair stations and two manicure-pedicure chairs. The specialist gift-wrapping room was changed into a more practical office. We wonder what this space looks like now?
The Manor's second story features 14 bedrooms overall, which have been a place for many of the rich and famous to rest their heads over the years, including Prince Charles and Princess Diana when the Spellings threw a party for them. The master suite has 7,000 square feet of living space and includes a kitchen, living room, his-and-hers closets and bathrooms.
This massive bathroom with a soaking tub, cove ceiling and three wall-length vanity mirrors is just one of 27 bathrooms in the house. The heart-shaped mirror makes a homely addition and appears to be one of Ecclestone's decorative touches.
Winding paths cut across the perfectly manicured lawns, immaculate topiary and sculptural gardens. Sitting on Mapleton Drive, The Manor is surrounded by a host of smaller mansions that are owned by the rich and famous.
Even though the home sits in a celebrity hotspot and is moments from downtown Beverly Hills and Rodeo Drive, it's as private as can get with a gated entrance and five acres of surrounding land. Surrounded by a citrus orchard, a vegetable garden, koi pond and rose gardens, it's the perfect place to retreat from the busy Californian lifestyle.
Overlooked by the back wing of the house sits the rectangular-shaped swimming pool and spa, which is surrounded by white stone paving and luxurious day beds. With the Californian weather and surrounding gardens, it has the feel of an exclusive resort.
The extensive grounds don't go without formal gardens that are full of grand fountains and elegant statues. They make the perfect place for a relaxing stroll, just in case the grandeur of the house gets a bit too much.
Also located in the grounds, sitting next to a picturesque pergola, is a full tennis court which can be lit up at night. Other features include a granite motor court for 100 cars, a solarium, wine cellar, game room, gym and tanning rooms. That's a lot of house, even for the now discounted, yet still rather eye-watering, price tag!
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