Petra Ecclestone
Petra Ecclestone, pictured here with her father Bernie Ecclestone, is the heir to his Formula One fortune and the new owner of the most expensive estate in the world. Reuters

Candy Spelling's The Manor - the world's most expensive estate - has been sold to a British heiress for an undisclosed sum.

The 57,000 square foot property in the Los Angeles enclave of Holmby Hills has been on the market since 2009. The initial asking price was $150 million, and Candy Spelling - widow of television mogul Aaron Spelling and mother to TV star Tori Spelling - had refused to lower the price, even during the housing market crisis.

The buyer, 22-year old Petra Ecclestone, is the daughter of British billionaire and Formula One tycoon Bernie Ecclestone. Her mother, now divorced from her father, is a Croation former fashion model who has worked for Armani.

The heiress Ecclestone is a fashion designer who produced a short-lived menswear label. She is planning to wed entrepreneur James Stunt this coming August, after which she plans to split her time between Los Angeles and London, where she owns a six story house in the Chelsea neighborhood.

Candy Spelling, citing a desire to downsize, bought a 15,000 square foot condominium in nearby Century City.

The Manor is a French chateau-style mansion on more than 4.6 acres. It has 123 rooms, including a flower cutting room, a China room, and a Prince Charles suite.

It also has a double staircase inspired by the film Gone With the Wind.

The Manor has it own Wikipedia page, which has already been updated to reflect the sale.

[Source: WSJ]