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Businessman Adrian Portelli made headlines last year when he acquired Eliza and Liberty’s House 5 on The Block for a whopping $4.4 million.
And now the high-flying businessman, known as ‘Mr. Lambo’, has announced plans to offload the sprawling Melbourne home for just $1.
The beautiful five-bedroom, four-bathroom Hampton East property first listed last month with a price guide of $2,900,000 – $3,200,000.
But on Thursday Domain Portelli and his sales agents have opted for a “twilight auction” with a reserve of $1.
According to the report, Portelli raffled off Eliza and Liberty’s house a while ago.
Adrian ‘Mr. Lambo’ Portelli will lose millions after putting The Block’s Eliza and Liberty’s house up for sale for $1
But after the winner preferred cash, Portelli decided to put the house under the hammer, apparently without worrying about making a profitable sale.
Located 17km from the CBD, the original classic mid-20th century brick house was spectacularly renovated by Eliza and Liberty Paschke last year.
Eliza, 37, and Liberty, 34, who have no experience in renovations, pocketed $1.05 million after the sale.
Domain reported that Portelli and his sales agents opted for a ‘twilight auction’ with a $1 reserve after he raffled off the house some time ago, but the contestants wanted a cash prize.
With a stylish American modern twist to its design, the spacious home features double-glazed Woodec windows, perfect for protecting the owners from the cold Melbourne winters.
Highlights include a swimming pool, large covered entertaining terrace and sculpted garden.
There are also two “zoned” living spaces, including a media room, a home office, and a “guest suite” perfect for Airbnb use.
Featuring a sleek American modern design, the spacious home features double-glazed Woodec windows, perfect for protecting the owners from the cold Melbourne winters.
Located 17km from the CBD, Eliza and Liberty Paschke spectacularly redid the original classic mid-20th century brick house last year.
Other finishes include oak floors and brass pendant light fittings and further highlights include a huge kitchen with breakfast bench.
There are also two “zoned” living spaces, including a media room, home office, and a “guest suite” perfect for Airbnb use.
The house was originally scheduled to be auctioned on March 9.
Highlights include a swimming pool, large covered entertaining terrace and sculpted garden.
It comes after Portelli made headlines after snapping up three homes during The Block’s auction last November.
In addition to Eliza and Liberty’s House 5, he also purchased House 4, renovated by Steph and Gian, and Kyle and Leslie’s House 1.
According to Dominio Portelli, the three homes have been drawn.