Adrian Portelli reveals new plans to sell all five Block homes after giveaway fail

Adrian Portelli has revealed his plans for all five homes he bought on The Block, after he failed to offload the compound in his ambitious giveaway.

Billionaire Adrian Portelli has sensationally pivoted after he failed to offload all five homes he purchased during last year’s Block auctions.

The Melbourne businessman, 36, dropped a staggering $15.03 million to purchase the properties at a record-breaking auction during the November finale of the Channel 9 reality series, before swiftly announcing a mega lottery to give away ‘Block Island’ via his online marketplace LMCT+.

A 34-year-old woman from Ballarat was the lucky winner during the draw in December, but opted instead for an alternative $8 million cash prize, leaving the homes in Portelli’s hands.

Now, Portelli has taken to his Instagram stories to announce he’s selling the five homes as a package.

“For Sale. The Phillip Island Block resort selling complex complete. Everything included,” Portelli wrote.

“Will not sell houses separately.”

Adrian Portelli announced via social media he was selling the Block resort that he bought on the grand final episode of the Channel 9 show in November.

Portelli failed to offload the homes during a prize draw in December. Picture: NewsWire/ David Crosling

MORE: Portelli sells off entire Block after dud stunt

Portelli had already said he wouldn’t host another lottery given the expense to pull it off.

“I’ve purchased (the homes) twice now,” he said in December.

“I think everyone forgets that the resort is one half of the cost. So to run a promotion like that costs double the amount we have paid for it in marketing expenses and running it and permits.

“It’s really difficult to try chase the money back for it.”

He said he would most likely retain ownership and host events at the homes.

Portelli, who has declared he is now finished with The Block, has dominated the show over the past three seasons, making headlines for his wealth-flaunting antics and mega prize giveaways.

However, the giveaways have proved largely unsuccessful in finding new owners.

In 2022, Portelli raffled Sharon and Ankur’s house, which he had bought at auction for $4.25 million. But that giveaway sensationally soured after the winning couple, Kevin and Andrea Griffin, accused Portelli of removing $100,000 worth of items from the property.

Adrian Portelli first appeared on The Block in 2022. Pictures: Channel 9

In 2023, Portelli bought three out of five houses at auction for a combined price of $12.4 million.

But Steph and Gian’s winning ‘Japandi’ house, which the businessman bought for $5 million, failed to land an owner after the giveaway in December 2023, with the winner opting for a $2.5 million cash prize instead.

Portelli tried to offload Eliza and Liberty’s home in early 2024, but the winner again selected the alternate cash prize.

He eventually opted to sell the sprawling Hampton East property via auction in April last year, where it went under the hammer for $3.245 million, marking a $1.055 million loss for the flashy billionaire who bought it for $4.3 million.

Originally published as Adrian Portelli reveals new plans to sell all five Block homes after giveaway fail