MARISSA CALLIGEROS December 27, 2012
With its ornate baroque-esque decor dripping in gold leaf, the sprawling mansion of two Gold Coast property developers may be more suited to the likes of Marie Antoinette than the good folk of Queensland.
The 2547 square mansion, christened Bellagio La Villa, is nestled in the Gold Coast hinterland on Tallebudgera Connection Road.
Owners Paul and Viki Sweeney - the founders of Gold Coast-based Coral Homes - purchased the 44 acre estate in August 2006 for $8 million and spent a further $8 million constructing their dream residence, which was completed in 2008.
The palatial home is now the subject of a court-appointed separation sale and is set to be auctioned next month.
Ray White Prestige agent Robert Graham expects the sales campaign to attract national attention.
“The home is truly unique – there's nothing as grand or opulent in the region,” Mr Graham said.
“We're anticipating strong interest from interstate, particularly southern buyers who recognise great value in the Gold Coast's prestige property market.”
The luxury home features 10 ensuited bedrooms, multiple living areas, a library, media and music rooms, a gym, indoor pool and spa and five-car ballroom garage.
It is accessed via a gated, tree-lined driveway with the southern boundary bordered by water.
Horse stables and yards, as well as a machinery shed and caretaker's cottage, are surrounded by manicured gardens.
Group One winning thoroughbred Southern Lord was bred and raised on the property.
“We're anticipating interest from horse owners who will be able to use the existing stables and yards,” Mr Graham said.
“There is additional land on an adjacent parcel for sale separately, which could be bought to extend the usable land.”
The property will be among a number of prestige homes to go under the hammer at Ray White Surfers Paradise's The Event auction on January 31 at the Palazzo Versace.
Despite the downturn in the Gold Coast's property market, recent sales activity in the area have included a record $12 million for a Sanctuary Cove property and $9.5 million for a house on the Nerang River at Southport.
Mr and Mrs Sweeney founded Coral Homes in 1990 after moving from Newcastle in New South Wales to Queensland.
The company rapidly expanded to become one of the largest residential developers in Queensland and Australia.
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