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  (Photo: Reuters/Lucy Nicholson)
  Rapper Jay-Z and his wife, singer Beyonce, attend the match between Novak Djokovic of Serbia and Rafael Nadal of Spain in the men's final of the U.S. Open tennis tournament in New York, September 12, 2011.

Jay-Z and Beyonce reportedly spent $400,000 to rent a Hamptons holiday home during the month of August, it has been revealed.

The Hollywood couple has allegedly leased a $43.5 million dollar Bridgehampton home where they are expected to spend quality time with their 6-month-old daughter Blue Ivy, according to reports.

The 11-acre property is located on Halsey Lane, an upscale area known as the Sandcastle, and features a 60-foot heated pool which comes complete with an underwater stereo system, according to a real estate listing on Corcoran.com.

The lavish home also has a two-lane bowling alley, golf facilities, tennis court, squash, racquetball and basketball courts as well as a "children's performing area," which will no doubt be used to entertain the couple's daughter.

Reports of the couple's extravagant vacation follow recent remarks made by Jay-Z, the 42-year-old admitted that he and wife Beyonce, 30, have a "spoiled" child.

The normally reserved hip-hop mogul opened up about the issues of parenthood in a special edition of "Oprah's Master Class," which recently aired on the OWN network.

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"I imagine I'll take things I learned from my mom and things I've learned from raising my nephews and apply that. Then at the end of the day, I just know I'll probably have the worst, spoiled little kid ever," Jay-Z said on "Oprah's Master Class" program.

Jay-Z, who welcomed the birth of his daughter Jan. 7, is prepared for the challenges that he and Beyonce may face as Blue Ivy grows older.

"Everyone imagines they'll be a great dad until their [children are] teenagers. [They say], 'Get away from me, Dad. You're embarrassing me!'" he said.

In a new song entitled "3 Kings," the rapper professes his love for both Blue Ivy and Beyonce although his lyrics about the singer's weave hair extensions has raised questions among fans.

"I only love her if her weave new, I'm still a hood n----- what you want me to do?" Jay-Z rapped.

While some critics believe that he is making a lighthearted joke about Beyonce's hair, others believe that he is suggesting that he would leave his wife of four years if her hair ever became unkempt.

Jay-Z is yet to clarify the message behind the bizarre lyrics.