SIMON Cowell has reportedly banked £11.39million after selling his four-bedroom Beverly Hills property.
Despite the eye-watering amount, the 60-year-old sold the six-bathroom Trousdale Estates home for a £785,000 loss after initially purchasing the home for £12.2million ($15.5million) in 2011.
According to Variety, Simon had remodelled the 7,300 square foot mansion three times – but never lived in it.
Built in 1966, the property sits on 0.65 acres and was designed by architect Hal Levitt, who has also collaborated with Ellen DeGeneres and Jennifer Aniston on their homes.
The mid-century house boasts an impressive pool and outdoor lounge area perfect for entertaining as well as a spectacular view of the L.A. basin.
Simon is believed to have purchased the home from music executive LA Reid and was featured on the X Factor US in 2012.
Simon, who splits his time between his homes in Malibu and London, recently sold his main Beverly Hills residence for £19.6 million ($25million) in another off-market deal.
News of Simon’s sale comes it was reported that he sold the house he bought off his former protégé Leona Lewis.
The music mogul purchased the sprawling property in LA’s prestigious Hidden Hills off the singer in an off-market deal.
However, the 60-year-old made a loss of 155k at £2.8m when he flogged it, reports Variety.
The impressive pad listed on realtor.com boasts five bedrooms, seven bathrooms, two mini bathrooms and is set over 4,900-square-foot complete with a detached guesthouse.
The swanky neighbourhood is thought to house other celebrities inclukding Drake, Jessica Simpson and the Kardashian-Jenners.
In 2017, he splashed out £19m on a seven bed, seven bath beachfront home in Malibu, and last year bought a £15m pad in leafy Wimbledon.
He also has a £10m house in London’s Holland Park and another home in New York.
Amidst ongoing global economic uncertainty, the star, 60, is hoping to place his other sprawling six bedroom home in LA on the market in a deal thought to be worth around £18million.
The tycoon – worth £390 million – will keep his Malibu pad, telling friends he wants a “quieter life” away from the hustle and bustle of Hollywood.
Mogul Simon, who came out of hospital recently, was “in good spirits” despite the pain after having a steel rod inserted when he broke his back in three places.
The X Factor supremo — who smashed three vertebrae when he was thrown from a super-powered electric bike — is recuperating at home in Malibu with partner Lauren Silverman, 43.
But he is “keen” to return to work and wants to fly to London in October for the live final of Britain’s Got Talent.