Saturday, 19 October, 2019

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Gold Coast’s biggest mansion hits market with $45 million price tag


The Gold Coast’s biggest mansion at 26 Knightsbridge Pde East, Sovereign Islands, has hit the market.

IT’S taken years and millions of dollars to complete, but the Gold Coast’s most notorious mega-mansion has finally been finished and is up for grabs with an eye-watering $45 million price tag.

The sprawling Sovereign Islands residence has deliberately been listed with an asking price in American dollars — $US30 million — to attract international attention.

If a buyer snaps it up for that, the sale will surpass the Gold Coast’s record house price which stands at $A27 million.

The record holder, 33-39 Hedges Ave, Mermaid Beach, was sold by former Sydney Swans ruckman-turned-travel industry entrepreneur Tony Smith as a half completed beach house in 2008.

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It has a whopping $45 million price tag.

The mansion has taken years and millions of dollars to complete.

The Sovereign Islands mansion at 26 Knightsbridge Pde East was made famous when it was sold in an unfinished state to its current owner for $5.3 million at a mortgagee auction in 2013.

The price was considered a bargain after the previous owners, accountant Clare Marks and her lawyer husband Scott Tyne, outlaid $21.44 million on the initial construction and four blocks of land.

The pair were evicted after court action in Australia and Singapore following defaulted payments to the tune of more than $11 million. At that stage the property was only 80 per cent finished.

That was when Perth civil engineer Riccardo Rizzi snapped up the property and vowed to stay true to the dreams of Ms Marks and her husband in creating the highest quality property.

The current owner picked it up for the “bargain price” of $5.3 million.

The total cost of the build is unknown.

Mr Rizzi ensured everyone hired to work on the house had been paid and rehired most of the contractors.

The six-bedroom mansion now sprawls over five blocks after Mr Rizzi bought the property next door for $1.2 million, and was completed with a no-expense-spared approach.

It has been a labour of love for Mr Rizzi, who said he did not keep track of the costs.

“I can say it cost considerably more than I originally estimated,” he said.

“An opportunity comes up once in a lifetime to do something like this … it’s been an absolutely, thoroughly enjoyable process.”

Everything is in palatial proportion.

There’s even a Roman-inspired garden.

Mr Rizzi is selling as the house is too big for him alone, with his four children all in Western Australia. He has lived in it while work has continued to complete it.

“My children have all returned to Perth and I felt that after being there for six years it was time to be close to the children,” he said.

The ostentatious offering features artesian windows worth up to $40,000 each, a 30m pool, 106m of waterfrontage, a roman-inspired garden and a 4m high, 1500kg statue of Neptune from Florence.

It can be sold with the furniture, which was styled by MJ Elegant Interiors.

The main bedroom’s ensuite is the size of a small apartment.

What a view!

Alex Phillis of self-titled agency is marketing the property, which he said was in a league of its own with nothing else like it in the southern hemisphere.

“It’s on one of the best positions in Australia and is one of the biggest volume houses in Australia — it’s the size of a luxury boutique hotel,” he said.

“We think the buyer will probably come from overseas, the fact the house hasn’t been registered here, it is still available for foreign buyers to buy without having an Australian visa.

“We are reaching out worldwide.

“You can’t rule out the local market as well, there are certainly enough big hitters in Australia and New Zealand to buy the house, but naturally you think Asia, Middle East and parts of Europe.”

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