The Beckhams sell Beckingham Palace?

Updated: Oct 07, 2013, 10:29 AM IST

London: Soccer star David Beckham and his wife Victoria have reportedly sold their Beckingham Palace home.

The superstar couple raised their sons Brooklyn, 14, Romeo, 11, and Cruz, eight, at the home, reported Digital Spy.

"David in particular was desperately sad to sell the family home as there are so many memories. They have had years of happiness in the home, but practically now there is no need to keep it. It`s the beginning of a new era for the family," a source said.

The home and several cars have been sold for 12 million pounds as the couple look to raise their family - including two-year-old daughter Harper - in London and take them to Los Angeles for the school holidays

"The Beckhams love both England and LA. They want the Californian sunshine for the kids but the education system of the UK - so they`re getting the best of both worlds.

"It`s an exciting time for the Beckhams as they enter a new chapter of family life," the source added.