A LAVISH Gold Coast mansion will go under the hammer, with billionaire developer Riyu Li stepping up a year-long campaign to offload his sprawling estate in the semi-rural suburb once earmarked for an eco-tourism resort.
The palatial home set over more than 49ha of lush grounds at 49-109 Tallebudgera Connection Rd, Tallebudgera is marketed by Amir Prestige principal, Amir Mian, and agents, Alex and Victoria Fleri.
It will be auctioned on-site on February 25.
Known as Bellagio La Villa, the European-inspired property has 10 bedrooms and 10 bathrooms, with a raft of luxury features including a showroom-style car garage which converts into a ballroom, baroque-style formal dining room, heated indoor pool with spa, sauna and gym, and an in-house pet grooming salon.
The listing also includes a separate three-bedroom guest house facing picturesque Tallebudgera Creek, as well as horse stables, machinery sheds, a freshwater dam, and an orchard.
Mr Mian said the auction date was set to, “bring current buyers into a fixed timeline so that the seller can make a commercial decision more readily.”
Mr Li put the one-of-a-kind holding on the market in December 2021, after Gold Coast City Council knocked back his controversial proposal to establish the $160m Gardens of the World wellbeing development in Tallebudgera.
While the original listing was last year split, with parts of the acreage to be sold separately,
Mr Li had now decided to auction the full site.
“The seller has said he will still allow the flexibility to sell an 18ha section,” Mr Mian said. “However ideally the full site would be sold in one transaction.
“And with that in mind, where else can you get an acreage property of this calibre and offering which is only 10 minutes to a world-famous beach?”
Property records show the site, set over two titles, last changed hands in 2014 for $7.2m. It was formerly owned by Coral Homes founders Paul and Vicki Sweeney.
Mr Li poured millions of dollars into upgrading the Michael Witty-designed property.
Stately wrought iron gates lead onto manicured hedges and fountains, while inside finishes include ornate ceilings, marble floors, crystal chandeliers, and French doors.
Ms Fleri said the estate had drawn interest from interstate and international buyers, as well as from film and TV producers scouting for locations.
“Given its unique décor, size and surroundings, we are often contacted by producers, directors or studio execs looking to film at Bellagio,” Ms Fleri said.
“As a VIP guest manor for the stars the property would be a great asset to any production looking to combine the accommodation, location and unit base all in one convenient location”.
Article source: Queensland Property Investor