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DATE News (chronologically)
06/16/11
f1
Ecclestone's daughter buys LA Mansion?  UPDATE
Bernie Ecclestone (L) with ex-wife Slavica and daughters Petra and Tamara
Lots of unconfirmed rumors have been coming out of L.A. real estate circles since it was announced that Candy Spelling's long-listed mansion had sold. According to TMZ, Candy Spelling agreed to sell her L.A. megamanse for $85M, a whopping 43% off the steadfast $150M asking price. Other sources—despite reports that 22-year-old auto racing heiress Petra Ecclestone is the buyer—have the purchaser as an anonymous billionaire who would put the $4B Ecclestone fortune to shame. Is Petra playing front for a family friend? Her father Bernie and billionaire real estate snob Lakshmi Mittal—who controls a $28.7B fortune—are known to be friends, but Mittal wasn't too shy about paying exorbitant sums for his homes in the past. Perhaps the most outrageous was Mittal's purchase of a house on Kensington Palace Gardens in London for $128.25M. The seller? Mr. Bernie Ecclestone. Coincidence? Curbed.com



Spelling Mansion
06/14/11 The long-running drama over the sale of the highest-priced home in the U.S. appears to be heading to its finale.

Candy Spelling's 57,000-square foot Los Angeles home, which had a $150 million asking price, is in contract to be sold to 22-year-old heiress Petra Ecclestone, daughter of billionaire Formula One racing boss Bernard Ecclestone. WSJ's Juliet Chung and Candace Jackson report.

The 57,000-square foot Los Angeles mansion built by the late TV producer Aaron Spelling is slated for sale to a 22-year-old heiress to a Formula One racing fortune. The home on five acres of property in Holmby Hills has a bowling alley, beauty salon, several gift-wrapping rooms and parking for 100 cars. zzzz

"The Manor," as the property is known, had a list price of $150 million that didn't budge during the real-estate downturn that sent prices in Los Angeles down by more than a third. The sales price was not disclosed.

The buyer, Petra Ecclestone, will be splitting her time between London and Los Angeles after her planned August wedding to entrepreneur James Stunt, according to a spokeswoman. Ms. Ecclestone's father is the British billionaire and Formula One racing boss Bernie Ecclestone.

The seller, Candy Spelling, Mr. Spelling's widow, declined to comment. Mr. Spelling produced such TV shows as "Mod Squad," "Charlie's Angels," "Dynasty," "Starsky and Hutch," "Beverly Hills, 90210," and "Melrose Place."

SPELLING MANSION SELLS

Ms. Spelling and her husband bought the property in the early 1980s and tore down the existing house to build the French chateau-style home in 1991. The home has a double staircase inspired by "Gone With the Wind." It was considered the largest home in Los Angeles by far when it was built.

Petra Ecclestone also has a six-story house in London's Chelsea neighborhood purchased for £56 million ($90.9 million), according to press reports. In 2004, her father sold a mansion in Kensington Palace Gardens to steel magnate Lakshmi Mittal for £57 million, according to reports.

More at Wall Street Journal

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