Price slashed for $50m mansion: ‘owner lowered his expectations’

Villa Vittoria on 26-34 Knightsbridge Parade East is up for sale again.
One of the most recognised mega mansions on the Gold Coast has been listed with a new marketing push and an owner who is “very motivated to sell”.
Villa Vittoria is set across five north-facing blocks at on the luxurious Sovereign Islands.
It has been on and off the market with different agents since October, 2019 — at one point it had a $50m price tag.
The resort-style pool at Villa Vittoria.
The kitchen.
Seller Riccardo Rizzi, a Perth-based civil engineer, put his hand up at a 2013 auction to purchase the property incomplete for $5.3m.
He has reportedly spent about $11m bringing it up to its current stage.
The mansion, on a 4254sq m lot with 106m of Broadwater frontage is modelled on a 100-year-old chateau and was designed by Brunei architect to the royals, Bayden Goddard.
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Aerial view of the property overlooking the Broadwater.
Anyone up for a dinner party?
Ivy Wu and Isaac Kim, of Ivy Realty, are behind the latest marketing push.
“We are on the market at offers over $35m,” Mr Kim said.
“The owner has lowered his expectations and he’s very motivated to sell.
The residence at 26-34 Knightsbridge Parade East is set across three levels connected by a lift, with architectural features including soaring voids, spiral staircases and marble columns.
What a view!
Inside the designer digs.
There’s a 25m pool, 12-car garage with car wash bay and nine bathrooms, while the entrance is graced by a 4m-tall statue of Poseidon.
It has six bedrooms and a private maids’ quarters, as well as a wellness suite with massage room, a Turkish bathhouse, gym and change room.
The new owner can even arrive via helicopter if they wish, with enough space to land a chopper.
“It’s a house where if you really appreciate the volume and appreciate the style I think there is people who will see the value in it,” Mr Kim said.
The 4m-tall statue of Poseidon.
Almost every room looks out the Broadwater.
If Villa Vittoria sells for its asking price, it would be the highest sale on the Gold Coast.
The highest price paid for a property is $28m, paid this year for a beachfront mansion on Hedges Ave, Mermaid Beach.
The highest price paid on Sovereign Islands is $20m in 2021 for a mansion on King Arthurs Court.
Well-known businessman Clive Palmer was the buyer of both properties.

The post Price slashed for $50m mansion: ‘owner lowered his expectations’ appeared first on realestate.com.au.

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