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Oct. 27 2008, Published 7:07 a.m. ET

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STALOREGGI Cleese's $28M Montecito estate for sale

British actor John Cleese ran a shabby hotel on the legendary television program Fawlty Towers, but the palace that Python built is fit for King Arthur (or at least Sir Lancelot, the Brave).

Stalloreggi, as Cleese's meticulously groomed and landscaped equestrian estate in the swanky enclave of Montecito is known, spans 15 acres and features a three-bedroom, 3.5-bathroom Mediterranean style house, a 16,000-square-foot horse barn with tack room, two indoor-outdoor exercise rooms, and a colossal $28 million price tag.

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Additionally there are dressage rings, three two-bedroom apartments—one of which has been turned into a writing studio—and riding trail links into Romero Canyon and to the Pacific Ocean.

The Cleese clan, who are rich enough to own and live in another Montecito house, have owned Stalloreggi since 1999, and according to the recent article in the L.A. Times, the estate is home to a bevy of world-class horses as well as llamas, alpacas, pheasants, dogs, cats, chickens, and an emu.

No African swallows, though.

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