Following the sale of their Brentwood home, Formula One heiress Petra Ecclestone and her husband, Sam Palmer, have scooped up another property in the same neighborhood.
Ms. Ecclestone and Mr. Palmer paid $30.5 million for an estate on Brentwood’s tony Rockingham Road, Mr. Palmer said. Sitting on about half an acre, the newly built brick home measures approximately 13,000 square feet with seven bedrooms, a movie theater, a music room and a roughly 200-bottle wine cellar, he said.
Mr. Palmer said he and Ms. Ecclestone, the daughter of the British billionaire and Formula One racing boss Bernie Ecclestone, had been on the hunt for a new L.A. property for quite some time. He recently got his real-estate license and is an agent with Hilton & Hyland; she is passionate about interior design. “We’ve been looking for something that’s a bit of a project,” he said.
The couple has a track record of renovating houses and selling them for far more than they paid. They paid just $22.7 million in 2019 for their previous Brentwood property, which they sold in October to Los Angeles Lakers star Russell Westbrook for $33.5 million, plus an additional $2.5 million for the furniture, Mr. Palmer said. Mr. Westbrook now plays for the Los Angeles Clippers.
And Ms. Ecclestone sold The Manor, the Holmby Hills estate built by television producer Aaron Spelling, for $120 million in 2019, after buying it in 2011 for $85 million.