When Chinese billionaire property developer Riyu Li reportedly sold his Gold Coast hinterland estate, Bellagio La Villa, for $42 million in February, it was touted as the highest price paid at auction in the Sunshine State.

But in some good news for those in the market for a lavish chateau-style mega-mansion 10 minutes from the beach, the sale never materialised. The sprawling Tallebudgera estate has now reappeared on real estate websites around the country, complete with a new agent and no set price guide.