Prince Harry and Meghan Markle have been happily settled in Montecito since 2020, after leaving their life in the UK behind. Their hometown is popular with Hollywood stars like Jennifer Aniston and Oprah Winfrey, and the mansions on the block are full of star quality. There's been an impressive sale in the area, keep reading for all the details…
An eight-bedroom property, located at 2910 Sycamore Canyon Rd, closed on 30 April for $59.8 million, a fair bit shy of the $65 million asking price, but still a dizzying number.
As reported by Site Lines, it was acquired in 2012 for $10 million, and after tearing down the property and completely rebuilding it the owners decided to sell. However, the project was never fully completed, so it was sold as an opportunity to complete it.
The features it does already have include six acres of land, a library, a study, a gym, a theater, a wine cellar and staff quarters. Other benefits include its stunning ocean views and proximity to the Montecito Country Club.
© Corbis via Getty ImagesMontecito property market
It will be welcome news for Montecito realtors as it has been an uphill battle so far this year. A report by real estate expert Mark Ashton Hunt in the Montecito Journal revealed that only five properties broke the $10 million threshold in the first quarter of the year.
Montecito is an exclusive neighbourhood that's a hotspot for A-listers, and it is well known for its expensive property market. Even Prince Harry and Meghan Markle thought they were priced out of the area at first. "We didn’t have jobs, so we just were not going to come and see this house. It wasn't possible. It’s like when I was younger and you're window shopping - it’s like, I don't want to go and look at all the things that I can't afford. That doesn’t feel good," the Duchess told the Cut. In the end they did view the residence, and it's a good job as it is now their dream family home…
Harry and Meghan's family mansion
© InstagramWe adore seeing updates from the Sussexes' mansion that's formally known as Chateau of Riven Rock. The property has nine bedrooms and 16 bathrooms and boasts beautifully landscaped grounds, which we often see Harry and Meghan's children, Prince Archie and Princess Lilibet enjoy. We've seen them cut roses, pick fruits and play on their picture-perfect lawn.
Footage from before the Sussexes lived at the residence show that it has an incredible over-water spa room and a huge bedroom terrace.
The Duke and Duchess spent $14.65 million on the property, with the help of a mortgage; however, a more recent Zillow estimate states that their mansion has now doubled in value and is worth an impressive $29 million.
