The $45 million mansion that has been for sale for almost three years

A gorgeous $45 million colossus in Queensland has been on and off the market for almost three years and closes out 2022 as one of Australia’s most enduring listings.

The waterfront mansion at 26-34 Knightsbridge Parade East, Sovereign Islands, a luxurious pocket of the Gold Coast’s Paradise Point, is a grand villa crafted in a French style by the architect to the Brunei royal family, Bayden Goddard.

The brief was to design a chateau that appeared to be a century old. At its asking price, it will set a Gold Coast record.

Pricefinder data shows the glam home, with 100 metres of Broadwater frontage, has been withdrawn and relaunched several times on the market since March 2020. It passed in at $28 million at auction later that year.

26-34 Knightbridge Parade East, Sovereign Island, Queensland

The mansion is a landmark of the Sovereign Islands, which form part of Paradise Point on the Gold Coast.
The mansion is a landmark of the Sovereign Islands, which form part of Paradise Point on the Gold Coast. (Domain)

The current campaign has been live for 156 days, according to Pricefinder records, as the vendor patiently waits for the right buyer with deep enough pockets.

The mansion is unique in many ways – it has a distinctive, European flair and has defied market forces, remaining available through the price boom of the pandemic and the subsequent price drop.

It will enter 2023 looming large at the most elite level of the Queensland prestige market, which has benefited from strong interstate migration since COVID-19.

26-34 Knightsbridge Parade East, Sovereign Islands
The property was lovingly finished over a five year period. (Domain)

The Sunshine Coast now accounts for the largest share of total net population flow from capital cities to regional Australia, at 37 per cent.

That volume is ahead of the 26 per cent that have moved to regional New South Wales and the 23 per cent that packed up and shifted to regional Victoria.

The Sovereign Islands manor was built across four blocks of land that cost $9.44 million in 2005. Construction costs reportedly tallied $12 million before its owners were forced to sell when only half the house was finished.

Australia's most enduring listings
The imported statue of King Neptune in the enormous entry foyer, beneath a grand dome. (Domain)

It was purchased by the vendor in 2013 for $5.3 million, which was understood to be well below even land value and less than half of what it was expected to fetch under the hammer. The current owner finished it – over five meticulous years, Domain reported in 2019 – to an exacting standard.

Over three levels, with a dramatic, domed entry (guests are greeted by a bronze, Italian- imported 4-metre statue of King Neptune, which will not come with the purchase), a lift, six bedrooms, garaging for 12 cars, a “wellness suite” for Pilates and marble columns, the buyer will have a true Hollywood-style compound on their hands.

During the renovation, the owner told Domain he used a “Volkswagen Polo” worth of paint sample pots, to get even the finest details just right.

“A lot has gone into this house. I want to see it loved and enjoyed,” he said.

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