ARTICLE PRIOR TO ITS SELLING:
From News.Domain.com.au –
One of the Gold Coast’s most lavish mansions will be auctioned later this month after failing to sell for the bargain basement price of $9.5 million. The Tuscan-style mansion, in the exclusive Sovereign Islands estate, reportedly carried a $15 million price tag when it was put up for sale last year. It went to auction but failed to sell. A post-auction contract for $9.5 million then fell through. Advertisement: Story continues below The opulent seven-bedroom, nine-bathroom home, owned by property developer John Fish, is now in the hands of receivers and will be auctioned on October 30. The enormous property also features multiple entertainment areas, a sprawling terrace, a 25-metre pool, a gym, steam room and panoramic views from Surfers Paradise to South Stradbroke Island. Mr Fish, whose partner is 2000 Sydney Olympic gold medallist and former Hockeyroos captain Nikki Hudson, developed the $1 billion Marina Quays residential-retail project at nearby Hope Island. He reportedly paid $6.5 million for the luxury home in October 2003, then spent millions on extensions and renovations.