Making changes! Brian Grazer splashes out a cool $12.5million on a Santa Monica mansion

When you�re an Academy Award-winning Hollywood producer, there are certain perks that come with the job.

For Brian Grazer, this includes dropping a clean $12.5million on a new mansion.

The A Beautiful Mind producer purchased the Santa Monica pad in early December, after putting his Malibu home on the market.

Moving in: Brian Grazer bought this Santa Monica home for a bargain price

Super spending: Brian Grazer splashed out a cool $12.5million on a Santa Monica mansion

And images released of the mega-mansion show quite clearly why the 60-year-old must have fallen in love with it.

The property, which is set on a two acre estate, boasts seven bedrooms and eight bathrooms and has cream and wooden interiors, as well as exposed brick.

Images of the luxury house show the vast grassy grounds, a lagoon pool and a huge driveway.

Grazer also can make use of an extensive wine cellar, four fireplaces and a library.

According to RadarOnline, the house was originally priced at $22.5million, suggesting the movie mogul bought it at something of a bargain.

Despite intending to sell his Malibu home, the producer withdrew the beach property from the market on December 28, according to the Huffington Post.

Perks of the job: Brain's new property boasts this luscious lagoon pool

Vast: The property boasts luxuries including a huge wine cellar

However it had previously been listed at an asking price of $19.5million.

It is unknown whether the producer has decided not to sell, if he is hoping to do so at a later date, or whether he intends to remodel the plush new Santa Monica pad before he lets go of his current house.

He may have decided to put the past behind him and start afresh, as the home he has inhabited in Malibu was left over after his divorce from his third wife, novelist and screenwriter Gigi Levangie.

Outdoor space: Brian's new home is set on a two acre estate in Santa Monica

Just one of many: The seven bedroom property has four fireplaces

The couple are understood to have bought the house in 2003, as a beach getaway home from the Pacific Palisades property they also owned at the time.

Grazer has taken on the daunting task of producing the 84th annual Academy Awards later this month.

The role is usually filled by Brett Ratner, but was offered to Grazer after the Tower Heist producer resigned.

Making changes: Brian is rumoured to be remodelling the place before he moves in

Mixing business and pleasure: One of the selling points is a library and study

When the news was announced, Academy Awards president Tom Sherak said: �Brian Grazer is a renowned filmmaker who over the past 25 years has produced a diverse and extraordinary body of work.

'He will certainly bring his tremendous talent, creativity and relationships to the Oscars.�

Grazer has an Oscar of his own. He scooped the Best Picture gong in 2002 for his work on A Beautiful Mind, starring Russell Crowe.

What a view: The home includes a spacious kitchen, seven bedrooms and eight bathrooms

Keeping his options open: Despite buying the place, Brian is holding onto his former home