Bellagio La Villa has been mooted as a potential site for the production of medicinal cannabis
A LAVISH Gold Coast estate going under the hammer this month has been mooted as a potential site for the production of medicinal cannabis.
Listing agent Alex Fleri, of Amir Prestige, said an Australian pharmaceutical company with interests in the controversial medicinal cannabis sector was among buyers who had reviewed the 49ha Tallebudgera site’s suitability for a future commercial venture.
Known as Bellagio La Villa, a European-inspired mansion with ten bedrooms and ten bathrooms occupies part of the sprawling property at 49-109 Tallebudgera Connection Rd owned by billionaire developer Riyu Li.
Bellagio La Villa is owned by billionaire developer Riyu Li
“At this stage all I can confirm is that we have a few commercial enterprises reviewing the
new offering of a 49 hectare site,” Mr Fleri said.
“The Bellagio 49ha estate offers the land size and even the commercial structure of the commercial chicken shed, which can be re-purposed for controlled agriculture.”
The upcoming auction brought a new spin to the long-running sales pitch for the one-of-a-kind holding, which Mr Li put on the market in December 2021 after Gold Coast City Council knocked back his proposal for an eco-tourism development in Tallebudgera.
The site borders Tallebudgera Creek
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Mr Fleri said “a few new parties” has expressed interest since the auction date was released.
“They range from pharmaceutical to an exclusive aviation business. We also have some families reviewing the property as their own private estate, be they equestrian lovers or sports families needing the space for personal or team training areas,” he said.
While the original listing was last year split, with parts of the acreage to be sold separately, Mr Li this year resolved the sell the full site.
Luxury features include an indoor pool complex with spa, gym and sauna
Extravagant finishes throughout
The showroom-style garage which converts into a ballroom
The mansion’s luxury features include a showroom-style garage which coverts into a ballroom, baroque-style furnishings, and a heated indoor pool with spa, sauna, and gym.
The land backs onto Tallebudgera Creek, and offers a thriving orchard, stables, machinery shed, pontoon, and a separate three-bedroom, two-bathroom guest house.
Property records show the property, set over two titles, last changed hands in 2014 for $7.2m.
It was formerly owned by Coral Homes founders, Paul and Vicki Sweeney.
Medicinal cannabis was legalised in Queensland is 2016, with its cultivation, manufacture and wholesaling controlled by both Commonwealth and state Governments, according to Queensland Health.
In 2021, a joint Canadian-Australian venture announced plans to build one of the world’s largest glasshouse facilities on the outskirts of Toowoomba, with the aim of exporting up to $2b worth of medicinal cannabis products annually.
Amir Prestige principal Amir Mian was contacted but declined to comment of the buyers or sellers of property listed for sale.
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