Chris Martin - Chris Martin bought bachelor pad with special trust
Chris Martin created a special trust to quietly purchase his new $14 million bachelor pad earlier this month before announcing his split from Gwyneth Paltrow.
Chris Martin created a special trust to quietly purchase his new $14 million bachelor pad.
The British rocker, who announced his split from Gwyneth Paltrow on Tuesday (25.03.14) after 10 years of marriage, splashed out on a huge beach house in Malibu, California earlier this month, not far from the actress' home in Brentwood, so they can easily ''co-parent'' their daughter Apple, nine, and son Moses, seven.
A property insider told the MailOnline: ''For this property a new trust was created, called Magical Kingdom Land (trust), which signalled 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. It appears that the trust used was different to the firm that Gwyneth is known to be associated with.''
Another source added: ''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.''
An insider told RadarOnline.com that Chris still plans to spend most of his time in London as he ''doesn't have any family or friends in Los Angeles.''
Meanwhile, friends close Chris and Gwyneth told the New York Daily News' Confidenti@l that they weren't surprised by their announcement as ''they haven't been a couple for a number of years.''
One insider said: ''This news should surprise no one. They haven't been a couple for a number of years and have been pretending for the sake of the kids and each other's careers.''