Steven Spielberg seeks $40 million for private retreat he never lived in

Hollywood film icon Steven Spielberg and his wife, Kate Capshaw, are moving on from their long-held private Los Angeles horse retreat.

The couple purchased the sprawling property in 1999 with plans to transform the estate into a five-storey riding facility.

They reportedly planned to spend US$7 million on the renovation, which was set to include a spacious guesthouse and three-storey guardhouse, Realtor reports.

However, the Spielbergs’ plans were dashed by fierce backlash from neighbours who took issue with the scale of the proposed development.

Despite reports they intended to revise the project, the couple’s ultimate vision for the ranch never eventuated.

Now, after nearly three decades, the pair are moving on.

Known as Dogwood, the property sits on two parcels in the ultra-private Sullivan Canyon.

Billed as a rare masterpiece, the estate was designed by renowned architect Michael Kovac with interiors by Michael Smith and landscape design by Christine London.

The property includes a main residence with five ensuite bedrooms, alongside formal living and dining rooms that open to the grounds and equestrian views, according to the listing.

The home also features a media and game room with a large walk-in wine cellar, as well as a separate guest suite.

Outdoors, there is a reflecting pond, a professional six-stall barn with an executive office, staff quarters, three grooming stations, feed kitchen and storage as well as an 1858-square-metre riding arena with observation deck.

The three-time Oscar-winning director and the actress-turned-painter originally paid US$5.75 million for the property.

Spielberg took home Best Director statuettes for the 1993 film Schindler’s List and the 1998 film Saving Private Ryan. He was also awarded the Irving G Thalberg Memorial Award (an honorary Oscar) in 1987.

Capshaw appeared in about 30 film and television projects before retiring from acting in 2002. She now works as a portrait painter. 

The ranch is on the market with Sandro Dazzan of The Agency for US$30 million (about $40 million).