When 2 becomes 1.95 (million pounds): Mel B makes a scary loss on her Hollywood home

By Mail on Sunday Reporter
Updated: 19:36 EST, 4 April 2009

mel b

Going for a song: Mel B spent £675,000 refurbishing her £2m LA mansion - and now it's for sale for £1.95m

Former Spice Girl Mel B has put her Hollywood mansion up for sale after being hit by the credit crunch – and is set to lose the £675,000 she spent giving the place a makeover.

The star bought the four-bedroom, four-bathroom house in 2007 for £2million, and her estate agents say she has transformed it into ‘an ultra-chic showpiece’.

The property details boast of ‘lush landscaping, a night-vision security system, three waterfalls and a state-of-the-art entertainment system’.

But the mansion is back on the market at £1.95million – meaning that she has lost all the money she spent on refurbishments.

A source said: ‘The market has tanked but Mel wants to offload the property.

'She knows she’s taking a hefty hit but she just wants to sell it and move on.’

She is said to be looking to rent a property in the Beverly Hills area.

The source added: ‘She’s not looking to buy right now. She isn’t sure how long she will be in the States.’ 

The 33-year-old mother of two revitalised her US career after appearing on Dancing With The Stars, the American version of Strictly Come Dancing.

She has just launched a burlesque act in Las Vegas called Peepshow, for which she is being paid a reported £20,000 a week.