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David Beckham and Wife to Sell Beckingham Palace for $15 Million

April 1, 2013, 9:54 am GMT

David and Victoria reject developers' offer to buy their luxurious property and prefer to sell the Rowneybury House to private buyers.

David Beckham, Victoria Adams

David Beckham and wife Victoria Adams decided to put their luxurious mansion known as the Beckingham Palace up for sale. The couple reportedly wanted to sell it for $15 million. A source, however, said that the pair preferred to sell it to private buyers, because they were concerned that developers would split the house into smaller apartment units and take advantage of their name.

"They know there aren't lots of individuals looking for houses of this size, and developers would jump at the chance to turn it into smaller flats, which would have added value because of the Beckham connection," the source told Daily Mail. "But both David and Victoria spent years improving Rowneybury and they're prepared to wait for the right buyer who will continue their work, rather than someone looking to cash in on their name."

The mansion is located in Hertfordshire, about one hour away from London. Since the couple bought it in 1999 for $4 million, they have added more facilities including a recording studio, helipad and indoor and outdoor swimming pools.

The Beckhams live in a rented house in Kensington after David moved from Los Angeles Galaxy to French club Paris Saint-Germain. Their current place now is close to the head office of Victoria's fashion business and boutiques. "When they moved back from LA they thought they would use Rowneybury at weekends. But since they've been back they've been so busy in London they've barely been there," the source said.

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