Playboy Mansion: Hugh Hefner sells his £75m home to the billionaire who lives next door

Hugh Hefner has sold the iconic Playboy Mansion to his next door neighbour for a staggering £75 million – but will continue to live at the sprawling Los Angeles property.

As part of the new deal, the 90-year-old ladies’ man and his bevy of busty blonde beauties will remain in the infamous party pad until he finally kicks the bucket.

The huge property has 29 rooms and was bought by Playboy founder Hef in 1971

New owner Daren Metropuolos, 32, owns a private equity firm and is heir to a billion dollar fortune which includes sweet-makers Hostess Brand which peddles cream-filled snack Twinkies.

The mega-rich buyer bought the house next door from the pipe-smoking pornographer in 2009 for £12 million.

The exact price of the new deal has yet to be confirmed although several reports suggest it is in the region of £75 million ($110 million) – considerably cheaper than its original asking price of £137 million ($200 million).

Daren’s company Metropoulos & Co released a statement saying he plans to merge the two 1920s-era houses into one colossal 7.3 acre compound once elderly Hugh meets his maker.

The infamous ladies’ man poses with beauties (left to right) Bridget Marquardt, Holly Madison, Zoe Gregory, Sheila LeVell, (front row) Cristal Camden and Izabella St. James

Hugh, 90, pictured with his 30-year-old wife Crystal Harris who he married at the mansion in 2012

An elderly looking Hef poses with a group of young models in the garden of his sprawling property near Beverly Hills

The Playboy founder posing with 2014 Playmate Of The Year Kennedy Summers

Hefner pictured with a group of bikini clad beauties in the 1970s. On his left is actress and model Barbi Benton who was on the cover of Playboy four times from 1969 to 1985

“If the purchase closes and at some point after Mr Hefner’s tenancy ends, Mr Metropoulos intends to reconnect the two estates.

“In the meantime, he is pleased to continue to have Mr Hefner as his neighbour and feels fortunate and privileged for the opportunity to serve as a steward of this historic property.”

The mansion consists of 29 rooms and includes a game house, home theatre, wine cellar, gym, tennis court, swimming pool and a four-bedroom guest house.

Wealthy Daren will also be able to enjoy the notorious Playboy grotto which is a secluded part of the swimming pool area famous for midnight romping sessions involving silicone enhanced models and randy party guests.

Millionaire Hugh pictured with former girlfriends and Playmates Sheila Level and Holly Madison in 2003

Hugh poses with Barbi Benton and Holly Madison outside the mansion in 2005

The magazine founder and former editor and chief sits in one of the house’s 29 rooms

Glamorous model Victoria Silvstedt poses with her Porsche Boxter in front of the Playboy Mansion in 1997

Playmates Monica Sims (L) and Kayla Rae Reid attend the annual Halloween Party, hosted by Hef at the mansion last year

Actor David Hasselhoff enjoying himself at a party titled ‘Stars & Stripes: An Evening of Sexy Patriotism’ which raised money for the Wounded Warrior Project at the mansion in 2009

Hugh, who is the founder of Playboy magazine, bought the mansion in 1971 for $1.05 million – which at the time was the largest real estate transaction in Los Angeles history.

The World War II veteran, affectionately known as Hef, lives at the L.A home with his glamorous 30-year-old wife Crystal who he married in 2012.

Hef, who has four children, is clearly looking to cash in before he dies. Earlier this year, it was reported that Playboy Enterprises Inc. is on the market for $500 million.

The magazine recently decided to stop featuring nude models for the first time in its 63 year history.