House Adrian Portelli bought for sale

one of the houses Block’After billionaire Adrian Portelli paid $3.3 million in 2024 and gave it away last year, Phillip Island’s season is up for sale for about $1.5 million less than its purchase price.

Home 2/113-119 Justice Road, CowesRenovated by husband and wife team Courtney McInnes and Grant Freeman, sold at auction to Portelli $3.3 million Following a competitive bidding war between IT entrepreneur Danny Wallis and cafe chain owner Jacob Najjar.

The four-bedroom home, which includes two master suites, a pool, outdoor kitchen, fire pit and comes fully furnished, is currently being asked for $1.7 million to $1.85 million by its new owner.

Listing agent Camille Morris, of Stockdale and Leggo Phillip Island, said the home offered “great value for money” and was “overequipped to begin with.” Block”.

“The finishes, appliances, furniture and quality are probably worth more than what we have listed,” he said. “But it is clear that Adrian overpaid and this has been common recently. To obstruct A season at Daylesford – without him around, that’s what happens [when Portelli doesn’t bid].”

Portelli, Young Rich Lister worth $1.295 billion After founding LMCT+, an online subscription-based club that offers shopping discounts and car and home giveaways, he paid $15.03 million to buy all five homes in the TV show’s 2024 auction.

During last year’s season in Daylesford, two homes failed to sell at auction, while two others achieved an auction premium of less than $150,000 each; This was a quieter result than the lucrative prices of recent years. Portelli often offers large sums.

Yvette Tancheff, the Ray White Phillip Island agent who sold House 2 to Portelli, said the first auction was very competitive.