Prolific Australian entrepreneur Adrian Portelli has confirmed that he is selling all five properties from The Block 2024 after purchasing them for a collective $15.03 million.
While the billionaire businessman had purchased several properties on the hit renovation series before, he made history at the season 20 auction when he purchased every property that the blockheads had tirelessly renovated.
Shortly after, he confirmed that this move would mark his final appearance on the show.
And now, some seven months later, the father-of-one has revealed that he is selling the entire Phillip Island compound.
“For Sale. EOI. The Phillip Island Block Resort. Selling complex complete. Everything included. Will not sell houses separately,” he posted to his Instagram stories.
One month after The Block 2024 auction (which sisters Maddy and Charlotte won), the reality star listed all five properties as a prize in a mega-giveaway through his lottery business LMCT+.
To enter, Aussies simply had to purchase lottery tickets with the eventual winner then given the opportunity to own the properties, or take home a cash prize of $8 million instead.
Ultimately, a healthcare worker from Ballarat won the lottery and opted to take home the life-changing sum, leaving all five properties empty.
At the time, Adrian said he had no further plans to run a giveaway of the properties due to the costs involved and would instead keep the luxury residences for himself.
“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,” RealEstate.com has reported.
“It’s really difficult to try [to] chase the money back for it.”
