Kelsey Grammer has slashed the asking price for his Beverly Hills home by $1 million.

The 57-year-old actor originally put the property, which he previously lived in with his ex-wife Camille Grammer, on the market for $18.9 million in 2008 but has now reduced the price after it failed to attract a buyer.

According to gossip website, the outspoken actor dropped the asking price several times already and the plush estate, which the former couple bought in 2007 for $13.7 million before extensively remodelling it, is now being listed for $14.995 million.

The 10,567 square foot manor boasts seven bedrooms, nine bathrooms, an impressive outdoor pool, exercise room and chef's kitchen.

Kelsey and Camille, who reached a financial settlement in December, have been trying to unload a number of their properties since their divorce was finalised in February 2011, including a $6.9 million ski chalet in Colorado and a $17.5 million Malibu mansion.

The actor also recently put another Spanish style estate in Beverly Hills up for rent for $30,000 a month.

Since divorcing the 'Real Housewives of Beverly Hills' star, Kelsey - who is most famous for his role as Dr. Frasier Crane in the sitcoms 'Cheers' and 'Frasier' - married fourth wife Kayte Walsh and the couple welcomed daughter Faith into the world last July.

Camille and Kelsey have two children, Mason, 11, and Jude, eight, together.