the buyer , petra ecclestone , will be splitting her time between london and los angeles down by more than a third .
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 .
the sales price was not disclosed .
there 's also a flower - cutting room , a china room , a " prince charles suite , " named after its one - time royal guest , and a library in which ms. spelling bound her husband 's scripts .
as such , an estimate is calculated on the basis of : publicly available tax assessment records for the property recent sale prices of comparable properties in the same area there are many additional factors that determine a property 's actual market value , including its condition , house style , layout , special features , quality of workmanship , and so on .
spelling mansion sells view slideshow 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 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 seller , candy spelling , mr. spelling 's widow , declined to comment .
ms. ecclestone 's father is the british billionaire and formula one racing boss bernie ecclestone .