Who wants to be a billionaire?
Billionaire developer Riyu Li is hoping for a case of second time lucky as he takes the 10-bedroom Gold Coast mansion Bellagio La Villa to auction for the second time in 18 months.
The palatial property at 49-109 Tallebudgera Connection Road, Tallebudgera, was reported to be all but sold after an auction in February 2023, but the transaction was never completed.
The property was quietly placed back on the market last year but the developer, who initiated the $1 billion Jewel three-tower project in Surfers Paradise, has now chosen to place it under the auctioneer’s hammer with a new sales team.
Gold Coast real estate queen Lucy Cole from Lucy Cole Prestige Property is teaming up with award-winning auctioneer Justin Nickerson from Appollo Auctions to handle the sale.
Ms Cole said the private 17.92-hectare estate, which has played host to film industry A-listers including George Clooney, Ron Howard and Chris Hemsworth, would go under the hammer again on Friday, July 12.
Mr Li bought the two-title holding in 2014 from Coral Homes founders Paul and Vicki Sweeney. The Sweeneys hired renowned architect Michael Witty, garden landscaper Paul Bangay and interior designer Eleanor Davis to build Bellagio La Villa.
The developer then lodged an application to incorporate the mansion into a $160 million resort and event centre called “Gardens of the World” on the site but the plan failed to secure approval from the City of Gold Coast in 2021.
Ms Cole said the European-influenced mansion was one of the country’s finest homes.
“Bellagio La Villa is without doubt one of the grandest homes that you could desire in Australia, and it is of a quality and size that would befit elite buyers from almost anywhere in the world,” she said.
“Given its location on the stunning Gold Coast and only 15 minutes from the beach and the airport, we are receiving interest from international buyers as well as locals.”
“The property offers the privacy and security that many high-net-worth individuals desire, and yet it is within easy reach of everything that the Gold Coast has to offer.”
The main residence sprawls across two distinguished levels, graced with custom-crafted decor, crystal chandeliers, bespoke and custom-built furniture, polished marble floors, and soaring, ornate detailed ceilings. Seven-metre floor-to-ceiling windows offer sweeping views of the manicured gardens and the central courtyard.
The residence boasts a private ballroom with a bar and caterers’ kitchen. The main home boasts 10 luxurious bedrooms and 11 marble bathrooms, plus multiple guest powder rooms.
The house also has an indoor swimming pool, a spa, a gymnasium and a sauna.
The property also comes with a three-bedroom caretaker's cottage, horse stables, a fruit orchard, multiple work sheds, a floating pontoon with a boat and sealed roads and pathways to enjoy the entire property.