Beckingham Palace ends its reign: David and Victoria 'to sell up' their £18m home as they settle permanently in Los Angeles
By Kimberley Dadds
PUBLISHED: 11:16, 24 March 2012 | UPDATED: 15:49, 24 March 2012
They've made Los Angeles their home for the last five years.
But now the Beckhams have decided to make it more permanent and are to put their famous English residence Beckingham Palace up for sale.
David and Victoria are having their Hertfordshire mansion, believed to be worth around £18million, valued by estate agents.
On the market: The Beckhams have decided to sell their lavish estate Beckingham Palace as they settle permanently in Los Angeles
And they've also decided to sell up their £2.5 million French house to cut their ties in Europe.
The couple, who are worth over £160million, love the home which holds many happy memories for them, but felt it was wasteful to hold on to it when they never visit.
Victoria said in her recent Vogue interview that she's in London she prefers to stay at The Savoy hotel, as she would have to spend four hours in the car just to get to and from the office.
Selling up: David and Victoria Beckham have reportedly put their Hertfordshire mansion Beckingham Palace up for sale
'They felt is it was a waste for these beautiful homes to sit empty for months and months,' a source said.'
David was recently offered a place at France's Paris Saint-Germain football club.
But reluctant to move overseas, he declined the offer for 'family reasons'.
A source added: 'They donít need the money, as such, but no longer use either place and realise in this current climate itís crazy to effectively throw cash away.
Goodbye! Victoria is reportedly looking for a small place in London for visits
'The Beckhams have made LA their home, and the kids are settled there.'
The couple bought Beckhingham Palace's sprawling 22-acre estate in 1999, shortly after tying the knot.
And they have since spent £18 million renovating the mansion to include swimming pools and a gym, amongst other highlights.
They also bought a seven bedroom house in France in 2003, but have barely spent any time in it.
The Beckham clan moved to sunny LA in 2007 so that footballer David could take up a spot playing for local team LA Galaxy.
They have since made it their home, with sons Brooklyn, Romeo and Cruz settling into schools in the city.
And during their time in the States the Beckhams have also welcomed baby daughter Harper into the world.
And 36-year-old David has previously spoken about not wanting to disrupt his home life now their children are happy and settled.
When he signed a new two-year deal with LA Galaxy earlier this year, he said: 'When youíre married and you have children, your priorities change.í
'We have three amazing boys and a little girl we have to look after so now our priorities are all about them.
Sunny home: They have made a new life in America with their three boys and baby daughter Harper since moving there five years ago
'My family are happiest here at the moment. We love living in LA, we love living in America. Weíve adapted to the culture and everything the country has.í
But while they're selling up their family home in Britain, Victoria has reportedly started looking for a small place for when she is in London.
An insider added to The Mirror: 'Victoria already has a studio there. She has already looked at a couple of apartments near Hyde Park and may decide to buy later this year.'
Putting them first: David has said he wants to stay in LA for his children now that they're settled in the city
Read more: David and Victoria Beckham to sell Beckingham Palace | Mail Online