X Factor and Britain’s Got Talent boss Simon Cowell is reportedly putting his Los Angeles mansion on the market amid the ongoing economic uncertainty, only days after walking away from his record label Syco.
The 60-year-old is expected to cash in now before the economic slump that is expected later this year.
It is estimated that his estate that he has owned for 16 years will fetch around £18million.
At the time of purchase, Simon is thought to have paid £3.2million, later splashing the cash on renovations but still hoping to make a tidy profit.
Simon is hoping to give his party lifestyle and overhauling as he opts for a quieter home away from the hustle and bustle (Image: Getty Images)
The business tycoon’s swanky mansion, which has often been spotted on the X Factor, includes a pool, gym, spa, cinema, massage room and eight car garage.
Simon who is father to Eric, six, had told pals about his plans to sell due to now wanting “a quieter life” away from the Hollywood spotlight.
It seems his party lifestyle is now a thing of the past, with the talent show scout also wanting to leave behind many showbiz memories from his wilder days.
Simon Cowell to sell LA mansion for £18million days after leaving Syco label (Image: NBCU Photo Bank/NBCUniversal via Getty Images)
An insider reported to The Sun: “Simon absolutely loves this house, and for a while it was his dream home.
“But also it holds one too many showbiz memories – now that he has a son and long-term partner, he wants to lead a simpler life and create new memories not revolving around rock ‘n’ roll, TV or parties.
“It’s certainly the end of an era – but Simon is excited for a new chapter.”
Simon walked away from his music label Syco just days ago with an alleged eight figure deal (Image: Getty Images)
Daily Star Online has contacted a representative of Simon for comment.
The news about his plans to sell land just days after it was confirmed that Simon had stepped away from his music label Syco with an alleged eight figure deal.
Simon who is estimated to be worth around £390 million, decided to cut all ties after he’d sold his business to Sony Music in 2005 but still remained heavily involved.
His primary focus will now be his TV company, Syco Entertainment, that owns The X Factor and global Got Talent shows.
Source: Celebrities - dailystar.co.uk
