Pamela Anderson has sold her Malibu mansion for US$11.8 million (S$15.9 mil), about US$3 million under the asking price.

The 54-year-old former Baywatch star originally listed the stunning Malibu Colony home — which she purchased for US$1.8 million in 2000 — for US$14.9 million in March but it has now been purchased for US$11.8 million by Kreiss Furniture CEO and creative director Loren Kreiss, People reports.

Pamela previously tried to sell the property — which was designed by Philip Vertoch and features a guesthouse, pool, spa and a rooftop deck — for US$7.75 million in 2013.

She revealed in March that she had moved out of the four-bedroom, four-and-a-half-bath property and was living with her husband Dan Hayhurst at her grandmother's former home on Vancouver Island, Canada, amid the Covid-19 pandemic.

She said: It's time I went back to my roots. I'm in love and recently married my 'average Joe' [as he likes to call himself].

I'm creating my life here now again where it all started. It's been a wild ride, now full circle.

I left my small town in my early 20s for Playboy, travelled all around the world, just to come home — one of the most beautiful places on earth. I made it home in one piece, a miracle. I'm a lucky girl.

Listing agent Tomer Fridman of the Tomer Fridman Group said: The Malibu market has become the destination of choice for high net worth and ultra-high net worth individuals from across the nation.

Malibu Colony, in particular, is one of Los Angeles's most important enclaves dating back to Hollywood's heyday of '20s glamour. — BANG SHOWBIZ

Photos: TPG News/Click Photos, TheMegaAgency.com