Gold Coast Mansion For Sale at $45 Million

This colossal mansion for sale is “in a league of its own,” as one of Australia’s largest, most private, and palatial mansions. The home is located in 26 Knightsbridge ParadeEast, Sovereign Islands, a 24 hour gated estate that has been home to some of Australia and the world’s wealthiest families. Designed by the Brunei royal family architect Bayden Goddard, the manor was intended to emulate a 100 year old chateau in the European coast or Long Island, New York.

The house extended over four blocks of land which cost $9.44 million in 2005, and had an 26 Knightsbridge, Sovereign Island Mansioninitial construction cost of $12 million prior to the eviction of its owners with only half of the house completed. In 2013, the waterfront manor fell into the ownership of a mortgagee halfway through its construction had reportedly already cost its local owners $21.44 million. The current owner of the estate, Perth civil engineer Ric Rizzi managed to purchase the property at an auction for an astounding price of just $5.3 million. 

“It was bizarre. When the realisation came that there were no other bidders, that was a sensational feeling. I looked at the top of the entrance hall that stands 14.5 metres above the ground and it was almost like a sign from heaven that it was meant to be,” Mr Rizzi disclosed.

Shortly after purchasing the property, Mr Rizzi decided to buy the neighbouring block for $1.19 million and combined all five lots to provide 106 meters of north-facing water frontage. He then devoted the next 12 months to compile the documentation including building licences and approvals, as well as reinstating the original consultants and builders who were working on the property. The complete construction of the house then took a further five years.

Interior of Sovereign Island Mansion“One of the carpenters spent five years of his life working on this house. The tiler laid more than an acre of tiles during that time,” Mr Rizzi mentioned.

The house is currently up for sale, finally completely constructed, and is listed for an exorbitant price of $US 30 million (approximately $AUD 44 million). Marketing agent Alex Phillis revealed that the property was listed for sale in US dollars due to the likelihood of the buyer coming from overseas.

“This house is phenomenal on a national scale. Certainly, this is the most incredible house on the Gold Coast but I don’t think there’s anything like this in Australia, based on the construction alone,” Phillis announced, “It’d be worth $100 million easy if it was on the Sydney Harbour”.

The home includes 7 bedrooms, 9 bathrooms, a 12 car garage, self-contained granny flat and staff wing. The manor boasts many opulent details including terracotta roof tiles imported from Spain, timber parquetry and marble floor throughout, mirroring the 8-metre tall ceilings. It also possesses ornate windows reportedly costing $40,000. There are several water-tanks on the property to care for the Roman gardens, a commercial-grade lift servicing the three levels of the mansion, along with a 30-metre waterside pool.

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By Sian McCaffery