British billionaire builds river palace
A FIVE-STOREY riverfront mansion under construction and rumoured to be the most expensive home built on the Coast is set to become the holiday home of a billionaire British Lord.
Lord Robert “Bob” Edmiston’s palatial home is being built by Hutchinson Builders on the Maroochy River front side of the Alpha Maroochydore site on Duporth Ave.
The five-storey, four-bedroom home comes with seven basement carparks, a basement-level pool, games room, cinema, lift and wine cellar, according to architectural plans lodged with and approved by Sunshine Coast Council in 2016.
The home dwarfs its neighbour, a four-storey unit block on the southern side of the project, facing Cotton Tree.
On the Duporth Ave side of the 2082sq m block will be Alpha, a high-end, mixed-use development made up of 14 three-bedroom units and 1000sq m of lettable office space, also being built by Hutchinson Builders.
Multiple sources told the Daily the home was believed to be being built for about $15 million, with high-end fittings set to feature throughout.
The OGE Group Architects-designed home’s plans included a gym and spa on the fourth floor, a roof terrace, and a games room on the first floor including a cinema.
The home is positioned in a prime location on the bend of Maroochy River and Cornmeal Creek, with sweeping river and ocean views stretching to the north.
It’s understood Lord Edmiston had family based in the region, and he would be using the home as a base when visiting.
He built his fortunes in property and motoring, and had established himself as one of the UK’s most prolific philanthropists, donating hundreds of millions to a number of Christian charities.
In 2018 it was reported Lord Edmiston had joined the billionaire club, thanks to the growth of his IM Property Group’s portfolio.
The Alpha site, at 10-12 Duporth Ave, was owned by IM Duporth Pty Ltd, whose directors included Lord Edmiston.
A site valuation from June 30 listed on CoreLogic’s RP Data website priced the site of 12 Duporth Ave at $2 million.
The project is the latest in a flurry of construction activity in Maroochydore and Cotton Tree, with a number of luxury apartment projects rolling out in recent months.
EPIC: British billionaire Lord Edmiston’s riverfront home is being built at Maroochydore. INSET: Artist’s impressions of the home.