Billionaire Adrian Portelli has paid $15.03 million to buy all five houses at auction on this year’s reality renovation TV show The Block . Portelli capped the season with a knockout bid of $3.
5 million for House 1 on Phillip Island renovated by sisters Maddy Harry, 24, and Charlotte Harry, 22, making them the season’s winners with a $1.55 million profit. The youngest-ever Block contestants also take home the $100,000 winner’s cheque, for a total prize of $1.
65 million. The Block airs on Nine, owner of this masthead. The sisters’ home at 1/113-119 Justice Road, Cowes had a price guide of $1.
7 million to $1.85 million, and a reserve price of $1.95 million.
Each house had the same guide and reserve, except House 5 whose reserve was lower. The houses largely fielded strong interest, defying Melbourne’s broader weak property market . Contestants on the program will take home substantial prizes of at least $650,000 this year, in contrast to the past two years when some homes were passed in or sold for gains in the tens of thousands.
The homes were among 1180 auctions scheduled in Melbourne on Saturday. Overall winners Maddy (left) and Charlotte celebrate their win at The Block auction this weekend, selling their house for $3.5 million.
Credit: Nine Melbourne recorded a preliminary auction clearance rate this week of 61.2 per cent by Saturday evening from 1372 listed auctions throughout the week and 972 reported results. This year’s season of The Block was set in a form.
