The co-founder of "Hard Rock Café", Peter Morton has reportedly scooped up the famous Trousdale Estates property that once belonged to rock and roll legend, Elvis Presley, for $9.8 million.
The property went up for sale in October 2012 asking for $12.9 million. However, Morton picked up the property for $9.8 million closing the deal in December, reports Homeluxury.
Apparently, Elvis and his wife Priscilla had purchased the property in 1967 for $4 million and sold it when they separated. The home was put up on rent for $250,000 a month before being listed in October.
The main unit spreads across 5367 square feet on a big 1.19 acre lot and was recently renovated. The home has four bedrooms and five bathrooms with spacious living and dining areas. A family room, an office and a media room also exist in the property. A new modern kitchen had been installed during the renovation. The home features slider doors and floor-to-ceiling windows that provide scenic views of the canyons and the city. The home opens out into patios that overlook the garden area. A swimming pool, a spa and a four-car garage and a motor court make up the exteriors of the property, reports Real Estalker.
Though the property has been renovated, it is rumored that Morton plans on tearing down the estate and building a brand new structure to replace the existing one as renovating old buildings has been a trend in the neighborhood of Trousdale Estates, reports Curbed.
Morton currently lives in a 13,000 plus square feet home in Holmby Hills. In 2011, he sold his Tudor style Beverly Hills mansion to Oscar winning actress, Sandra Bullock at a loss. He also maintains a designer ocean-front home in Carbon Beach
Morton sold his stake in Hard Rock Café to star hotelier Ian Schrager in 2006 for $770 million. However, in 2007, The Seminole Tribe of Florida took over the chain . The Café is popular the world over with over 175 locations in 55 countries.