The Carters are looking to put down permanent roots in Los Angeles

Beyoncé and Jay Z are looking to trade in their Empire State of Mind for a little sunshine and a lot more privacy in the City of Angels.

In early February, a source confirmed to PEOPLE that the couple is “actively looking for the perfect house for their expanding family” in Los Angeles. But could this Holmby Hills mansion be the one?

The pair reportedly had a secret viewing of the 57,000-square-foot, French chateau-style home. The house currently belongs to British Formula 1 heiress Petra Ecclestone and her husband, billionaire businessman James Stunt, who purchased it for $85 million in the summer of 2011, according to W Magazine.

SPLASH NEWS

However, the estate is most famously associated with the late producer Aaron Spelling and his wife Candy, who built the palatial property in 1991. After her husband’s death in 2006, Candy listed the home for $150 million in March 2009, but not before sharing photos of the spectacular interiors, which she helped decorate. Some of the estate’s most outstanding features include a bowling alley, wine cellar, three gift-wrapping rooms, library, gym, doll room, screening room and humidity-controlled silver storage room.

“This house is the equivalent of a mid-sized hotel,” Spelling told PEOPLE. “It’s a lot of work. At the time of the sale it was the largest home in Los Angeles County. She added, “I have wonderful memories here, but I feel like it’s a new chapter in my life — and it’s just me in this big house!”

The Carters are also looking to start a new chapter. Over the past two years, they’ve been spending more time in Los Angeles rather than their long-time home in New York City. And, according to another source, the family is looking to make the move more permanent.

“Beyoncé and Jay Z seem serious about living in L.A. full time,” the insider said, adding that the parents are currently touring private kindergartens for Blue, 5, in Los Angeles. “When Beyonce and Jay Z are not working, they live a very quiet life in L.A. They seem to prefer private gatherings to public outings.” The expectation of their new twins, announced via a record-breaking Instagram post no doubt has the family wanting to settle in and nest more than ever.

If the family does purchase the exclusive estate, Blue can look forward to exploring a five-acre backyard complete with tennis courts and a swimming pool, though we wouldn’t blame her for making a beeline to the home’s famous custom doll room.