Douglas knocks €8m off price of his mansion in Majorca
IT’S the home of two of Hollywood’s biggest stars, boasting an expansive vineyard, cinema and sea views, so you might think buyers would be queuing up for the chance to own it.
But the Mail on Sunday can reveal that Michael Douglas and Catherine Zeta-Jones have been forced to knock €8m off the price of their Majorcan villa to attract a buyer.
The 247-acre estate originally went on sale two years ago for €48m but offers for €40m are now being considered. A source at Sotheby’s International’s Majorcan office, which is handling the sale, said: ‘Our clients are very open to offers. They are willing to be flexible on price.
‘I would suggest that although the property is on the market at a value of €48m, our clients would possibly entertain offers around €40m.’
Douglas bought the property, known as S’Estaca, in 1989 for the equivalent of €3m with his first wife Diandra Luker after becoming enchanted by its history.
He spent €6m renovating it, and the estate, in Valldemossa, now has a home cinema, wine cellar, outdoor pool, games room and library.
The house and outlying buildings have 10,764 sq ft of floor space. Douglas and his first wife used to spend up to six months a year at S’Estaca, where the Fatal Attraction star – who called it his ‘spiritual home’ – would tend the vineyards and wander through olive and almond groves.
Tom Cruise, Nicole Kidman, Michelle Pfeiffer and Jack Nicholson were among the celebrities who joined the couple there for parties.
But the property apparently holds less appeal to Douglas’s second wife, Ms Zeta-Jones.
When they married in 2000, they visited the island for weeks on end and were often spotted dining at the upmarket La Residencia hotel, then owned by Richard Branson, in the nearby village of Deia.
But they have not been seen on the island since June 2014 when Douglas posted photos on Facebook of himself tending his vegetable patch.
At the same time Sotheby’s International began marketing the property for sale as ‘ready to move in’.
The sale may have been prompted by Douglas’s age – he is 72 next month – and a bout of ill health. In 2010 he revealed he had cancer, although he has since beaten the disease.
But the MoS also understands the issues arising with the sale are likely to stem from an agreement Douglas made with his ex-wife, which allows her to use the home each year.
He persuaded Ms Luker to put the house on the market in 2014 but reduced offers have only recently been considered.
‘They’re willing to be flexible on the price’