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.
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.”
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.
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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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.
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.”