Mega-mansion Alston up for auction
SHOPPING for a mansion? Need seven bathrooms? Here's one you can probably snap up for half its $22m price tag.
A MANSION for sale since last year is expected to fetch less than half its $22 million price tag.
Alston, a riverfront mansion which last year was touted as carrying one of the highest price-tags attached to a Gold Coast home, could be sold for half its original asking price during the city's huge January auction program.
Receivers have ordered the sale of the giant European-style house, which had been marketed with price predictions of more than $20 million.
But industry expectations are that Alston could bring about $10 million - or less than half the $22 million figure it was suggested was being sought when it was first marketed in July last year.
Alston, which was home to bankrupt developer Graham Spottiswood and wife Suzanne, is in one of the Gold Coast's most elite residential precincts.
It is bounded by the mansions of Riviera Marine founder Bill Barry-Cotter to the south and former V8 Supercar supremo Tony Cochrane to the north.
Big-spending semi-retired cotton farmer Tom Hadley lives two doors away in a substantial house that previously was home to bankrupt property marketeer, Dudley Quinlivan
He paid $9.5 million for the two-level house at a June auction, instigated by Westpac-appointed receivers.
The only bigger sale of a house this year was that of a Sanctuary Cove home bought by former car dealer John Zupp for $12 million.
The home, completed in 2010, sits on a 3442sq m east-facing lot at 5 McMillan Court and is held in the name of Suzanne Spottiswood. The land was bought from Split Cycle engine inventor, the late Rick Mayne, for $2.35 million in 1998.
It is being auctioned on January 27 by John Natoli and James Ledgerwood, of McGrath Broadbeach.
A house on the site was demolished to make way for Alston, a project which was apparently a labour of love for the Spottiswoods.
It has seven fireplaces and other features which reportedly were acquired around the world by the Spottiswoods and kept in storage ahead of their mansion being built.
Alston, which has six bedrooms and seven bathrooms, has a floor area of 2225sq m and spans three levels.
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