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Spelling Mansion to Be Sold to Racing Heiress

After two-plus years on the market, the $150 million property will be purchased by 22-year-old daughter of Formula 1 owner

Looks like Candy Spelling has finally unloaded that modest little place that she and her husband built.

The Wall Street Journal reports that Spelling is poised to sell the 57,000 square foot Los Angeles mansion to 22-year-old Formula 1 racing heiress Petra Ecclestone (pictured, below right).

The selling price was not disclosed, but the home, which sits on five acres and includes a bowling alley, beauty salon, numerous gift-wrapping rooms and parking for 100 cars, initially went on the market for $150 million in March 2009 and remained at that price despite the housing downturn that sent Los Angeles house values plummeting.

Aaron and Candy Spelling bought the property in the early '80s, tearing down the home that originally stood there in order to build the current structure, which was considered to be the largest home in Los Angeles at the time.

Aaron Spelling made his fortune producing such small-screen fare as "Charlie's Angels," "Dynasty" and "Beverly Hills, 90210," the latter starring daughter Tori.

Ecclestone, the daughter of British racing mogul Bernie Ecclestone, will divide her time between London and Los Angeles following her August wedding to entrepreneur James Stunt. Ecclestone also owns a six-story home in the Chelsea neighborhood of London that she purchased for $90.9 million.