The Holmby Hills estate - owned by Playboy Enterprises - is set to go on the market within the next month, according to TMZ, with a sale going through on the condition that Hugh, 89, can live there until he dies.

And prospective buyers will reportedly not be allowed to see Hugh's bedroom during viewings.

While Playboy Enterprises are hoping to get over $200 million for the property, which has been the scene of numerous wild parties over the years, TMZ cites real estate sources who insist the estate is worth between $80 million and $90 million.

The mansion has 22 rooms including a wine cellar, a screening room, a games room, a tennis and basketball court, a waterfall and a swimming pool area.

It also houses the Playboy magazine offices in a separate wing.

The 21,987-square-foot Gothic-Tudor style home, sits on 5.3 acres and was designed by Arthur R. Kelly in 1927.

Hugh currently lives in the Los Angeles mansion with his wife Crystal Harris, 29.