Lorna Jane founders list California compound with near-$29m hopes

The founders of activewear brand Lorna Jane have listed their California compound with price hopes of $US20 million ($A28.8 million), according to reports.

Lorna Jane and Bill Clarkson, Brisbane-based entrepreneurs known for their global athleisure juggernaut, bought the estate for $US12.5 million in 2016, The Wall Street Journal reported. They then restored the two homes on the block.

Set in the Pacific Palisades neighbourhood of Los Angeles, the property comprises the Bailey House, designed by architect Richard Neutra and dating to about 1948, along with a contemporary main house.

The Bailey House was part of a postwar program where well-known architects designed affordable, modern houses.

The main house features high ceilings and is LEED Gold certified, a mark of its environmental credentials.

They have seven bedrooms in total and come with a home theatre, gym and home office.

Set on an expansive block of more than 4000 square metres, the compound features a koi pond, wine cellar, fire pit, pool, hot tub, rooftop deck, parking for 24 cars and room to develop a third house if desired.

The couple spend most of their time in Australia and are not using the home as much as they had hoped.

“We had already decided to downsize our LA home prior to COVID-19 and were in the process of getting it ready for sale when the pandemic hit,” Mr Clarkson told The Wall Street Journal.

“If anything the coronavirus has made us second-guess our decision because we think the property is the perfect way to isolate yourself and your family.”

Jacqueline Chernov of Compass is the listing agent.