Gwyneth Paltrow and Chris Martin splash out $10.5m on LA mansion

New York, June 23 (ANI): Gwyneth Paltrow along with husband Chris Martin is buying a deluxe equestrian estate in the southern California, which is also home to supermodels Heidi Klum and Gisele Bundchen.

The six bedroom, eight bathroom mansion had graced Veranda Magazine's October cover and was listed recently at 10.5 million dollars, down more than a million from last year.

According to TMZ, Paltrow, now shooting for 'Iron Man 3' in the states, and her British rocker husband are paying close to asking for the acre of park-like grounds dotted with shady sycamore and oak trees.

The Brentwood palatial home includes a professional kitchen, wide-plank hardwood floors, glimmering fixtures and a built-in gourmet outdoor BBQ.

The ritzy retreat, also close to Arnold Schwarzenegger's house, was designed by "lifestyle architect" Windsor Smith and furnished by a cast of interior design stars for a Veranda-sponsored showcase.

"I really wanted to create a new template if you will, a new model for how I believe vibrant young families live today," the New York Daily News quoted Smith as telling Veranda.

She said the master suite has a paneled closet that doubles as a lounge to "bring intimacy back to couples."

The horse stable was designed by Kathryn Ireland, star of Bravo's "Million Dollar Decorators." (ANI)