Gold Coast mega mansion handed in at $28m at public sale, however continues to be set to interrupt QLD home worth report

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26-34 Knightsbridge Parade East, Sovereign Islands, handed in at public sale on the weekend


Probably the most anticipated public sale of the yr led to an anti-climax yesterday when Gold Coast mega mansion 26-34 Knightsbridge Parade in Sovereign Islands handed in at $28 million.

About 100 folks turned out to see if the landmark property, which the proprietor, civil engineer

The landmark property has been available on the market earlier than for $45 million.


Riccardo Rizzi, has beforehand listed for $45 million, would break the Queensland home worth report of $25 million.

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The scene couldn’t have been extra completely set: the solar was shining, ferraris, Bentleys, Vary Rovers and Aston Martins lined the streets outdoors the property and simply as bidding obtained beneath means, as if on cue, a superyacht sailed leisurely by, giving a toot of its horn to the amusement of onlookers unfold out on the again garden.

The public sale was held indoors and was solely open to registered bidders, of which there have been eight.

The road outdoors 26 – 34 Knightsbridge Parade East, Sovereign Islands, was lined with status vehicles.


Auctioneer Mark MacCabe of Apollo Auctions obtained proceedings beneath means at 1pm, laughing off the primary bid of $10 million. Over the following 45 minutes the worth rose to $20 million however no quantity of coaxing may get the worth to the seller’s reserve, with the property lastly passing in at $28 million.

Nonetheless, promoting agent Amir Mian of Amir Status, mentioned that the proprietor was eager to promote and knew that it might possible be at a worth considerably decrease than $45 million.

It was the right setting to indicate off the Gold Coast’s luxurious way of life.


“The seller has lowered his expectations rather a lot since he first listed the home about 12 months in the past, which signifies that the property is now realistically priced to promote,” Mr Mian mentioned.

“The advantage of the public sale is that’s has purchased the patrons to us and has given us a practical market worth – and we all know the cash is there.”

He mentioned negotiations would now begin, with at the very least two out of the eight bidders, each from the Gold Coast, who had been able to put gives in writing.

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The home has been a labour of affection for its proprietor over the previous seven years however he’s eager to promote.


To be accepted Mr Mian mentioned they must be above $25 million.

“I’m going to go in there an give it my greatest shot,” he mentioned.

The Queensland home worth report – set in 2016 for Mermaid Seashore’s Tidemark mansion – was equalled this yr with the $25 million sale of two Heron Ave, Mermaid Seashore.

QLD_GCB_NEWS_SOVEREIGNPALMS_27AUG15_WESTON

Riccardo Rizzi is eager to promote after shifting to Perth to be nearer to his kids. Image: Mike Batterham


Mr Rizzi purchased the home in Sovereign Islands for a “discount worth” of $5.3 million in 2013, however has since spent thousands and thousands upgrading it, ending off the challenge in August. He has rejected gives of as much as $30 million for the home prior to now.

The property has been a labour of affection for Mr Rizzi who wished it to resemble a French-type chateau.

The home lately featured in The Sunday Mail’s High 50 Houses in Queensland, coming in at No. 6. View the total listing at couriermail.com.au.

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