Rub the wall down with a med-grade sanding pad and then paint with a cheap budget matt white emulsion. Two coats may be necessary., but as long as you use the own-brand budget paint it won't be expensive.
That should key the eggshell, blank the red pigmentation and give a good base for your final top-coat of light beige.
Eggshell isn't a good idea on walls, and it's an expensive way to paint large surfaces. Always use emulsion on walls, either matt or silk, depending on the look you want or whether you need a wipe clean finish.
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