The former Calabasas, California rental home of pop star Britney Spears is being put up on the auction block this week. The Chateau Suenos sits on one acre of land and was decked out with $700,000 in lavish upgrades during Spears’ two year stay at the home.
In April 2011 the homes owner Jose “Pancho” Leon attempted to list the property for $10.8 million but received no offers for the estate. The home will now go to auction with a starting bid of $4.499 million, 58% of the homes original asking price.
Mr. Leon says the home is not in foreclosure:
“I know that I’ll be selling at a loss but I want to move on.”
The home was built in 2007 and features seven bedrooms, seven bathrooms, a wine cellar, home theater and maid quarters. The winning buyer will also receive a guest house, pool and mosaic tile infinity spa with a subterranean garage that comes equipped with two hydraulic car lifts.
The homes most sought after feature though appears to be it’s exclusivity since the home sits behind a gated complex called “The Oaks” which is considered “paparazzi proof” since visitors must pass through two security gates to entire the community.
Prospective buyers must have financing in place and undergo a vetting process before they can attend the auction which will happen on November 11. Buyers are also required to bring a $100,000 cashier’s check to place their first bid.
Neighbors of the Chateau Suenos estate include Cameron Diaz and Lady Gaga.