Sovereign Islands mega mansion

Could $50m Sovereign Islands mega mansion finally be sold?

PHOTO: A substantial offer has been made for 26 Knightsbridge Pde East, Sovereign Islands.

It’s been on and off the market for almost three years, but could the latest offer made for Riccardo Rizzi’s Sovereign Islands mega-mansion be the one that finally seals the deal?

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Rumours that a lucrative offer had been made for Villa Vittoria, one of the Gold Coast’s most iconic homes, were running rife among locals on the weekend.

Selling agents Alex Caraco and Lorenzo Badalotti of Raine and Horne, yesterday confirmed that an offer had been made by an ex-pat buyer from Hong Kong.

26-33 Knightsbridge Pde East, Sovereign Islands.

Mr Caraco said the contract was in the hands of Mr Rizzi and they were waiting for his instructions.

“I can’t disclose anything about the deal except to say that we’ve had lots of offers but this one is definitely of an acceptable price and if the contract is signed it will set a record for the Gold Coast,” Mr Caraco said.

The mega mansion covering four blocks has been on the market for more almost three years.

It will be a long-awaited sale given the property’s history.

Villa Vittoria was first listed in October 2019 with Alex Phillis Real Estate, then Amir Prestige and Kollosche before landing in the hands of Raine and Horne Elite in December last year.

A statue of Neptune greets you in the grand entrance.

It has always been the Gold Coast’s most expensive property, with its price fluctuating between $36m and $44m during its earlier days on the market.

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It has been under the hammer a couple of times, with Mr Rizzi rejecting bids for $28m and $34m.

After more than 270 days on the market, it was relaunched to prospective buyers in a bid to generate renewed interest.

More than $11m was spent on the home by its owner.


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