Home World AUSTRALIA Extravagant Gold Coast estate set to go under the hammer

Extravagant Gold Coast estate set to go under the hammer


The extraordinary estate at 26-34 Knightsbridge Parade East, Sovereign Islands.


They say Rome wasn’t built in a day and nor was the Gold Coast’s most extravagant house.

The final touches on a grand Sovereign Islands trophy mansion – previously listed with a price tag of $45 million – have been made more than a decade after work first began.

Built across five north-facing waterfront blocks on Knightsbridge Parade East, the keys to the completed mansion are up for grabs with an auction set down for October 17.

The Mediterranean masterpiece will go to auction on October 17.


Amir Mian, principal of Amir Prestige, said it was the first time a property of this calibre would go under the hammer on the Gold Coast.

“The final touches were made two weeks ago so the home will go to auction as new,” he said.

“The strength of the prestige market on the Gold Coast right now is the best it could be.

“There has never been a better time to put a property of this standing to auction.”

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Amir Mian, principal of Amir Prestige, with sales agent Faith Liu. Picture: Tertius Pickard


The auction date comes hot on the heels of Mr Mian’s $22.5 million sale on Hedges Ave, Mermaid Beach last month, the latest in a string of record real estate deals.

The Sovereign Islands estate was put to market with a $45 million price tag a year ago in a move designed to “test the waters” while construction continued.

The property famously sold in an unfinished state to civil engineer Riccardo Rizzi for $5.3 million at a mortgagee auction in 2013.

Pictures of the unfinished mansion at 26-32 Knightsbridge Pde East, Sovereign Island. Picture: Luke Marsden

The unfinished mansion in 2013. Picture: Luke Marsden


The previous owners, accountant Clare Marks and her lawyer husband Scott Tyne, are reported to have outlaid $21.44 million on the initial construction and four blocks of land.

Perth-based Mr Rizzi later acquired an adjoining 777 sqm block for $1.2 million, increasing the total holding to 4254 sqm.

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Riccardo Rizzi took on the challenge of completing the build. Picture Mike Batterham


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No expense has been spared by Mr Rizzi who has risen to the challenge of bringing the vision for a grand Mediterranean masterpiece to fruition.

The six-bedroom pad has a billiard room, cinema, wine cellar, 25m outdoor pool, a gymnasium with spa, chiller pool, steam room and sauna.

Mr Mian said it was impossible to put a price on the property, taking into account the value of land, years of trade labour and materials imported from around the globe.

A 4m high, 1500kg bronze statue is among the more ostentatious features.


The auction campaign is expected to attract worldwide interest, with overseas residents without an Australian visa eligible to buy.

“The campaign will target buyers Australia wide as well as China, Hong Kong and Singapore,” said Mr Mian.

“There are plenty of billionaires who are looking through a post-pandemic lens and seeing the Gold Coast as a safe place to be.”

The property boasts 106m of water frontage on the best five north-facing blocks on Sovereign Islands.




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