Oracle boss Larry Ellison is set to lose $4m on a Bay Area property in Woodside, south of San Francisco.

The Real Estalker reports that Ellison spent $23m in November 2005 to buy two properties a mile away from his main Japanese-style country estate and quite near to Redwood Shores and the Oracle HQ.

1 Turkey Farm Lane, Woodside, California.

The two comprise 6.88 acres and include a four-bedroom, three-bathroom, colonial style house, two five-stall barns and swimming pool. The properties were bought apparently to house Ellison's horses. The combined property was put on the market in the summer at an asking price of $19m. That's $4m down without accounting for real estate agency fees and other property transfer costs.

Going by the photos in the Real Estalker report the property is a turkey, almost literally as its address is 1, Turkey Farm Lane which is described as an "Exclusive equestrian estate comprised of two parcels."

The WSJ reports that Ellison has a huge amount of money invested in properties, and lists properties in Malibu, Newport RI, Rancho Mirage in California and Lake Tahoe on the California-Nevada border. He also has a property in Kyoto, according to the Journal. Mortgages are no problem as Forbes suggests the big E has a net worth of $33bn.

Interested parties should apply to Brent Gullixson of Alain Pinel Realtors or Mary S Gullixsen of Unique Homes. ®