The view of the estate from the Knightsbridge Parade East.
IT’S been seven years since Riccardo Rizzi placed the winning $5.3 million bid on a partly constructed Sovereign Islands estate.
Original owners Scott Tyne and Clare Marks had reportedly already outlaid $21.44 million on the initial construction and four blocks of land on Knightsbridge Parade East.
Their dream was to build a modern day 100-year-old chateau, designed by the renowned Brunei Royal Family architect Bayden Goddard.
Exterior photos of the unfinished residence in 2013. Picture: Williams Jerad
The sprawling Mediterranean masterpiece was taking shape on the best parcel of land facing due north down the Broadwater before the banks moved in.
Photos taken prior to the mortgagee auction in 2013 show weeds had started to take over the concrete structure which was still a long way off resembling a home.
It’s a daunting project for anyone to take over and one which Mr Rizzi has embraced without regret.
“Very few times in life you’re given a gift from heaven to do something and this project was mine,” he said.
“It was probably one of the most enjoyable things I’ve ever done in my life.
“It was a combination of so many different skills that needed to be put together to do it.”
Riccardo Rizzi placed the winning bid at auction in 2013.
A civil engineer with a background in project management, Mr Rizzi took a methodical approach to organising the paperwork into folders and boxes – enough to fill an entire room – to get his head around the monstrous task ahead.
His first act was to pay the tradespeople and consultants what they were owed and rehire as many as possible.
“Virtually everyone was put on an hourly rate,” Mr Rizzi said.
“Come Friday I would do a bank run and everyone would get paid.
“People who didn’t meet the standard, didn’t make it to the following week so we did have a reasonable turn over.”
Some of those original tradesmen – including a carpenter and a tiler – have worked on the house since building began in 2008.
Detailed finishes inside the residence were completed by hand.
At the height of construction, there were 20 or more workers on site, with detailed finishes including herringbone timber flooring and marble stonework completed carefully by hand.
“I met a lot of good people, some fantastic tradesmen who were a privilege to work with,” said Mr Rizzi, who counts ‘after work beers’ among his fondest memories.
“Not many people are in a position to give up seven years of their life to complete a project. I got so much enjoyment from doing it.”
Hours of research were devoted to selecting the finishes and fixtures, including an original 4m high, 1.5 tonne bronze statue of Neptune, imported from Florence at an estimated cost of $400,000.
Mr Rizzi prefers to confine his use of the house to the kitchen.
That statue graces the entry foyer where a spectacular domelike cupola, thought to be the only one of its kind in an Australian residence, rises 14.5m over head.
Living in such a grand estate has been an experience in itself for the bachelor who occupies only a small area.
“When I say I live in the house, I live in the kitchen,” Mr Rizzi said.
“The kitchen is more than 100 sqm which is in fact the size of a three-bedroom apartment, so I’m more than comfortable.
“To go from the kitchen to the master bedroom suite, I think even Usain Bolt would take more than 10 seconds to run it.”
Mr Riccardo Rizzi outside the residence in 2015. Picture Mike Batterham
Profit was never the main driver for Mr Rizzi who hasn’t put a value on the cost of completing the estate, which has previously been listed for $45 million.
Amir Prestige has set an auction for October 17 as Mr Rizzi makes plans to move closer to his adult children in Perth.
The completed residence is a sight to behold.
But rather than revel in the success of seeing the project through, he’s quick to pass credit to those who laid the foundations.
“Scott Tyne had an inspiring vision to set this whole project up and no one can take that from him,” Mr Rizzi said.
“He should be a very proud man, alongside his wife, as they are talented and gifted people.
“I wish them well and am extremely grateful that this opportunity came about.”
Plans are already in the pipeline for another major project in Perth for Mr Rizzi, buoyed by the confidence of conquering an inconquerable dream.
“What I found when I did the house is that I’ve elevated myself to a level that when I see a challenge, irrespective of how complex it appears, it is in fact an accumulation of individual singular simple problems,” he said.
“Now I find that I can actually deal with things that might otherwise seem impossible.”
The completed residence at 26-34 Knightsbridge Parade East, Sovereign Islands.
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