Wednesday, 26 March 2014

EXCLUSIVE: Gwyneth Paltrow and Chris Martin's $14million Malibu beach house to be his new bachelor pad... and was bought by mystery trust days before split statement

In the wake of Gwyneth Paltrow and Chris Martin's surprise split, the question remains how the pair will now divide their assets.
But MailOnline has learned that the couple - who admitted to working on their marriage for 'well over a year' - had already made plans for separate living arrangements. 
MailOnline can reveal that the $14 million Malibu beach property - which was bought just days before they announced the split - was purchased under a mystery new trust, to create a bachelor pad for Chris to be able to be close to children Apple, 9, and Moses, 7, which they plan to 'co-parent'.
'Conscious Uncoupling': One of the more surprises elements of Chris Martin and Gwyneth Paltrow's split was that they had purchased their Malibu home just days before the announcement
'Conscious Uncoupling': One of the more surprises elements of Chris Martin and Gwyneth Paltrow's split was that they had purchased their Malibu home just days before the announcement
A property insider reveals: 'For this property a new trust was created, called Magical Kingdom Land (trust), which signaled something definitely changed between the pair'.

'Everything else they have owned together, including homes in London and New York was bought under Orchard House LLC'.
Meanwhile, another source has revealed: 'Gwyneth is in love with her fancy place in Brentwood. The beach house purchase was the first clear sign that they were working out the final details of announcing their split'.
The pair relocated from Belsize Park to the West coast of America last year, and earlier this month invested in the luxury Malibu pad, which made the timing of their separation a surprise.
Dividing it up: The stars have five properties together, including this $14million Malibu home which it emerged that they had just purchased last week
Dividing it up: The stars have five properties together, including this $14million Malibu home which it emerged that they had just purchased last week

Interesting development: The couple are renovating their newest property, which could serve as a pad for Chris to take the children for part of the time if Gwyneth keeps their Los Angeles home
Interesting development: The couple are renovating their newest property, which could serve as a pad for Chris to take the children for part of the time if Gwyneth keeps their Los Angeles home
And the property insider suggests the purchase has been made by Chris alone, rather than Gwyneth.
'It appears that the trust used was different to the firm that Gwyneth is known to be associated with,' we're told.
Meanwhile Radar have reported that Chris will move back to London, as an insider tells them he 'doesn't have any family or friends in Los Angeles'.
But Chris' commitment to Coldplay often requires him to stay in the US and other parts of the world.
The couple have also vowed to 'co-parent' daughter Apple, and son, Moses, which will involve them living closer together.
Putting their children first: It is likely the estranged couple will seek joint custody of seven-year-old son Moses and daughter Apple, nine, when it comes to filing divorce papers
Putting their children first: It is likely the estranged couple will seek joint custody of seven-year-old son Moses and daughter Apple, nine, when it comes to filing divorce papers 

Renovations are currently being carried out on the property, and there’s no doubt the pair purchased it after deciding to split up.

The main home of the family of four is in the upmarket Brentwood area of Los Angeles.
The children are enrolled at school in LA and will no doubt be staying there at least for the time being, so the $10.45million ‘concept’ mansion which Gwyneth and Chris bought in 2012 will probably remain as their primary property.
Part of the plan?: Reports surfaced last month that the actress and singer were planning on selling their Belsize Park, North London home
Part of the plan?: Reports surfaced last month that the actress and singer were planning on selling their Belsize Park, North London home

Relocation: The family moved from London to Los Angeles last year and it's likely this $10.45million Brentwood property will stay as their main home
Relocation: The family moved from London to Los Angeles last year and it's likely this $10.45million Brentwood property will stay as their main home

Following their sweet statement that they ‘love each other very much’, it would be surprising if the pair do not both seek joint custody when it comes to filing their divorce papers.
But Chris’ connections with London and the fact he often travels for work means it could be Gwyneth who has the children in the week, with Chris taking them on weekend.

Perhaps Gwyneth will be the one to keep their Los Angeles home, with the new property in Malibu for Chris, where Apple and Moses can travel to see him in just half an hour.
New York state of mind: Gwyneth, 41, and 37-year-old Chris also own a loft in the Tribeca area of the Big Apple
New York state of mind: Gwyneth, 41, and 37-year-old Chris also own a loft in the Tribeca area of the Big Apple

Split decision: As neither of them is on the East Coast too regularly, they made divide their New York apartment and their Hamptons summer home (pictured) equally
Split decision: As neither of them is on the East Coast too regularly, they made divide their New York apartment and their Hamptons summer home (pictured) equally

The estranged couple have two further properties between them, a loft in the Tribeca area of New York and a summer home in The Hamptons.
As neither the actress nor the singer spend too much time on the East Coast, they very well could divide these two homes equally between them.
In the joint statement, the couple said: 'We are, however, and always will be a family, and in many ways we are closer than we have ever been.
Famous friends: Hopefully the estranged pals can keep their mutual friends and won't have to argue over who gets Beyonce and Jay Z, who Gwyneth is seen with here in 2006
Famous friends: Hopefully the estranged pals can keep their mutual friends and won't have to argue over who gets Beyonce and Jay Z, who Gwyneth is seen with here in 2006

He's my friend too!: Chris is pictured performing with Jay Z (L) and Kanye West on New Year's Eve in 2010
He's my friend too!: Chris is pictured performing with Jay Z (L) and Kanye West on New Year's Eve in 2010

The boys: Chris (second left) is seen at the Grammys with his bandmates Guy Berryman, Jonny Buckland and Will Champion, as well as Jay Z
The boys: Chris (second left) is seen at the Grammys with his bandmates Guy Berryman, Jonny Buckland and Will Champion, as well as Jay Z
'We are parents first and foremost, to two incredibly wonderful children and we ask for their and our space and privacy to be respected at this difficult time.'
Gwyneth and Chris always put their children first while together and no doubt they will still do this while apart.
Although they were rarely seen together over the past few years, in the run-up to announcing their separation the pair attended events and went on holiday with each other, all while looking very happy.
Star power: The Shakespeare In Love star is seen with pals Reese Witherspoon (L in February) and Drew Barrymore (R in January)Star power: The Shakespeare In Love star is seen with pals Reese Witherspoon (L in February) and Drew Barrymore (R in January)
Star power: The Shakespeare In Love star is seen with pals Reese Witherspoon (L in February) and Drew Barrymore (R in January)

Nearest and dearest: One of Gwyneth's closest friends is Chelsea Handler, who she is pictured with earlier this month
Nearest and dearest: One of Gwyneth's closest friends is Chelsea Handler, who she is pictured with earlier this month

It seems Gwyneth and Chris will try to keep things as normal as possible in the wake of the end of their marriage for the sake of Apple and Moses.
Which means they will surely continue to move in the same circles and maintain mutual friends – preventing a potentially messy argument over who gets to keep BeyoncĂ© and Jay Z.
Gwyneth met Chris at a Coldplay concert in October 2002 and they married in California in December 2003, five months before Apple was born.
The early days of romance: Gwyneth and Chris are seen here in February 2003, just a few months after they met
The early days of romance: Gwyneth and Chris are seen here in February 2003, just a few months after they met

DM

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