Michael Douglas has dropped the asking price for S'Estaca.


Michael Douglas has reduced the asking price for his Valldemossa property S’Estaca. The 247-acre estate originally went on sale two years ago for £41 million but offers for £34 million are now being considered.

Douglas bought the property 1989 for £2.7 million with his first wife Diandra Luker after becoming enchanted by its history. He spent £5.5 million renovating it, and the estate now has a home cinema, wine cellar, outdoor pool, games room, library and stable. More recently, the Oscar-winning actor/director has taken to producing a rare Majorcan wine on the property.

The house and outlying buildings have 10,764 sq ft of floor space. Douglas and his first wife used to spend up to six months a year there. Describing it as his "spiritual home", he would tend the vineyards and wander through olive and almond groves. Tom Cruise, Nicole Kidman, Michelle Pfeiffer and Jack Nicholson are some of the celebrities who have joined the couple there for parties over the years and, traditionally, Douglas used to throw a party every summer for local personalities.

But since he married Catherine Zeta-Jones, the couple have been seen less and less on the island together. The property apparently holds less appeal to Douglas’s second wife, the Oscar-winning Welsh actress, who was at S’Estaca just a few weeks ago after the couple had been on holiday in France, their new preferred destination.

The main house dates from around the mid-19th century and was bought in 1878 by Archduke Ludwig Salvator, cousin of Emperor Franz Joseph of Austria. It was one of a number of properties he acquired - Miramar and Son Marroig were others.