Adrian ‘Mr Lambo’ Portelli has called off plans to build his latest multi-million dollar mansion in Melbourne.
The billionaire is selling his Strathmore estate for an asking price between $2.5 million and $2.7 million.
Portelli bought the land in early 2023 for $2.7 million, with plans to build a home with city skyline views.
However, his hopes of purchasing surrounding blocks to expand his space were dashed.
“I wanted to potentially buy the neighbors’ houses and just make it one big block,” he said realestate.com.au.
“So I offered them a significant amount of money, more than what their house was worth, but they didn’t want to sell, and I respect that.”
Portelli says he hopes to get back the price for the land and is looking for a larger plot elsewhere.
“If that doesn’t work out, I’ll probably just put a house on it and sit on it for a while,” he told the website.
Adrian ‘Mr Lambo’ Portelli (pictured) has scrapped plans to build his latest multi-million dollar Melbourne property
Portelli is known for his very extravagant taste and often shares insights into his luxurious lifestyle on social media.
The bidder on the block made his fortune through his giveaway company LMCT+ and through real estate investments, and is now estimated to have a net worth of a whopping $1.03 billion.
He is known for his luxury collection of sports cars, but he has also purchased a string of multimillion-dollar real estate and other rare objects.
The successful businessman owns luxury homes across Australia and last year added a breathtaking penthouse in Melbourne to his property portfolio.
The March 2023 sale broke a record for the city’s most expensive apartment, after Adrian paid a staggering $39 million for the condo.
The billionaire is selling his Strathmore pad with an asking price of $2.5 million to $2.7 million. Portelli first bought the land in early 2023 for $2.7 million, with plans to build a home with city skyline views. The plans are pictured
However, his hopes of buying surrounding blocks to expand his space were dashed. “I wanted to potentially buy the neighbours’ houses and just create one big block,” he said
He reportedly spent another $6 million customising and personalising the 12,000-square-foot sky home, hoisting his $3 million McLaren Senna GTR inside as a ‘work of art’.
In addition to his massive car collection, Adrian also added a $4.3 million Lamborghini yacht to his long list of extravagant purchases.
Earlier this year, Adrian, a self-made billionaire from Melbourne’s western suburbs, shot up to 115th on the list of Australia’s 250 richest people.
His lottery company LCMT+ offers its members fantastic prizes including luxury homes, cars and cash in monthly prize draws, taking advantage of a legal loophole.