ICYMI: Prince Harry and Meghan Markle recently bought a multi-million-dollar compound in the wealthy neighborhood of Montecito, California. They had been previously staying in a mansion in Los Angeles, but many believe this new location is where the couple will permanently settle down.
So, how much did the Duke and Duchess of Sussex pay for the estate? And will they ever fill all 19 (!) bedrooms? Keep reading for all the deets.
The estate is located in Montecito, a seaside town located in Santa Barbara County. Although it’s about a 2-hour drive from Los Angeles, the area is known for being a celebrity hot spot, with people like Gwyneth Paltrow, Oprah Winfrey and Ariana Grande owning nearby compounds.
Prince Harry and Markle’s particular lot is located on a private, gated street that can only be accessed by neighbors and guests. So, don’t get any ideas…
Prince Harry and Markle purchased the Montecito estate for $14.65 million. According to official documents, the royal couple obtained a $9.5 million mortgage to seal the deal.
Despite the hefty price tag, the Duke and Duchess of Sussex actually scored a massive discount on the property. The previous owner, Russian businessman Sergey Grishin, bought it for $25.3 million back in 2009, and while he tried to make a profit, he ended up settling for a $10 million loss.
We’re not entirely sure when they put down the offer, but the deal went through sometime around mid-June. The purchase went unnoticed for a few weeks for one simple reason: Prince Harry and Markle didn’t use their own names on the grant deeds. Instead, they operated under a mysterious trust that just so happens to link back to Markle’s Hollywood business manager, Andrew Meyer.
The Mediterranean-style house was built in 2003 and sits upon a 7.4-acre compound, which boasts multiple structures (like a detached guest home, a tea house and a children’s cottage, to name a few).
The main residence features 19,000 square feet of living space, including 9 bedrooms and 16 bathrooms. Other parts feature a library, gym, arcade, game room, home theater and separate wet and dry saunas.
In the backyard, there’s a full-size tennis court and a large swimming pool.
For the most part, yes. However, Prince Harry and Markle are still planning on doing some renovations, particularly in the backyard.
“The outdoor play area will be decked out with swings and slides, a climbing frame and a tea area for Archie and his new little pals,” a source told Us Weekly. “Meghan’s counting the days until Archie can start interacting with children his own age.”
