Matthew Perry has slashed the price of his Malibu mansion by $1 million after turning it into a sober living facility for recovering addicts but plans to move Perry House to a more affordable location.
Matthew Perry has slashed the price of his Malibu mansion by $1 million.
The former 'Friends' star, who battled alcohol addiction in the past, recently put his beachfront property in the affluent Serra Retreat neighbourhood back on the market for $12.5 million after turning it into a sober living facility for recovering addicts.
The 44-year-old actor, who has an estimated net worth of $70 million, first listed the lavish house, which sits on 2.5 acres and is known as The Pier House, at the end of 2011 for five months, but failed to attract a buyer.
He took it off the market in early 2012 and revamped it into a rehab clinic, Perry House, with a 12-step workshop and meditation program, but is now hoping to offload it and is expected to move his rehab centre to a more affordable space in Studio City in Los Angeles, according to the LA Times.
Matthew is likely to make a sizeable profit from the sale, as he bought the four-bedroom home, which boasts views of the ocean, a home cinema, a swimming pool and a large meditation garden, for $6.55 million in 2005.
The actor moved into a mid-century modern home in the Hollywood Hills after purchasing it for $8.65 million in August 2011.
The ‘Luther’ actor is one of the hot favourites to take over from Daniel Craig.
Perry made more than any other musician this year including rival Taylor Swift and boyband One Direction.