{"id":505235,"date":"2026-02-26T11:42:13","date_gmt":"2026-02-26T11:42:13","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/505235\/"},"modified":"2026-02-26T11:42:13","modified_gmt":"2026-02-26T11:42:13","slug":"house-adrian-portelli-bought-for-sale-2","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/505235\/","title":{"rendered":"House Adrian Portelli bought for sale"},"content":{"rendered":"

One of the homes from The Block\u2019s Phillip Island season has been listed for sale for about $1.5 million less than its purchase price, after billionaire Adrian Portelli paid $3.3 million for it in 2024 and gave it away last year.<\/p>\n

The house at 2\/113-119 Justice Road, Cowes<\/a>, renovated by husband and wife Courtney McInnes and Grant Freeman, sold at auction to Portelli for $3.3 million<\/a> following a competitive bidding war between IT entrepreneur Danny Wallis and cafe chain owner Jacob Najjar.<\/p>\n

The four-bedroom house, which features two main suites, a pool, outdoor kitchen, fire pit and comes fully furnished, now has an asking price of $1.7 million to $1.85 million by its new owner.<\/p>\n

Listing agent Camille Morris from Stockdale and Leggo Phillip Island said the home offers \u201ca lot for your money\u201d, and was \u201cover-capitalised initially as part of The Block\u201d.<\/p>\n

\u201cThe finishes, the appliances, the furniture, the quality is probably worth more than what we listed,\u201d she said. \u201cBut obviously Adrian did overpay, and that was prevalent in the last Block season in Daylesford \u2013 without having him around, that\u2019s what happens [when Portelli doesn\u2019t bid].\u201d<\/p>\n

Portelli, a Young Rich Lister worth $1.295 billion<\/a> after founding LMCT+, an online subscription-based club offering shopping discounts and giveaways of cars and houses, ended up paying $15.03 million to buy all five houses at the TV show\u2019s 2024 auction.<\/p>\n

\"Adrian<\/p>\n

Adrian Portelli (left) at The Block\u2019s 2024 season finale auction.<\/p>\n

In last year\u2019s season, which took place in Daylesford, two homes failed to sell at auction while two other homes fetched an auction premium of less than $150,000 each, a more muted result than the lucrative prices of recent years, when Portelli often bid large sums<\/a>.<\/p>\n

Ray White Phillip Island agent Yvette Tancheff, who sold House 2 to Portelli, said the first auction was very competitive.<\/p>\n","protected":false},"excerpt":{"rendered":"One of the homes from The Block\u2019s Phillip Island season has been listed for sale for about $1.5…\n","protected":false},"author":2,"featured_media":504799,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[64,63,99],"class_list":{"0":"post-505235","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-au","9":"tag-australia","10":"tag-business"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/505235","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=505235"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/505235\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/504799"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=505235"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=505235"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=505235"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}