With no Adrian Portelli, who will buy The Block houses?
Billionaire entrepreneur Adrian Portelli went out with a bang on The Block last year when he carried out a clean sweep, buying all five houses on auction day, then declaring he’d “overstayed his welcome”.
It was a suitably dramatic exit for the “Lambo Guy”, who first made himself known by turning up to the show’s 2022 auctions in a yellow Lamborghini and has since spent a whopping $31.68 million on Block properties in three years.
But with Portelli and his dollars seemingly gone for good, who are some of the bidders likely to be circling at this year’s auctions?
Buxton Ballarat director Mark Nunn, the agent for Britt and Taz’s House 3, believes Portelli created “a bit of a false economy” when he bought all the houses last year.
“So other buyer’s advocates are now interested in this season, because he’s not going to be bidding,” Nunn says.
“Whereas, if he hadn’t been bidding [in 2024], I don’t reckon the majority of the advocates and the agents that we’re dealing with would have actually participated and introduced their clients this year. It’s been a real positive.”
It’s unclear at this stage whether another Block regular, IT entrepreneur Danny Wallis, will show his face on auction day. Wallis has snapped up 11 properties over 20 seasons of the show, with some used as private property investments and others given to charities.
Buyer’s agent Mark Errichiello, who was at last year’s auctions in Phillip Island, has inspected the properties, but says he isn’t representing anyone in the auctions just yet.
However, he says he wouldn’t underestimate the pulling power of Daylesford: “It’s pretty well-loved from a tourism point of view and even [by] owner-occupiers,” he says. “Adrian was a very strong buyer, but there are other strong bidders who might participate.”
One such potential buyer could be TikTok star Jacob Najjar, who owns the acai cafe chain Thirsty Monkey.
The Sydneysider gave Portelli a run for his money on House 2 last year, and says he and his wife are potentially interested in buying one of the homes as a weekend retreat.
“It’s a bit of a rat race, you know, in Sydney,” Najjar says. “That’s why we like these country areas.”
He says this year’s contestants have done an “outstanding job”, and predicts they will be auctions worth watching.
“I think it’ll be a good season, a good turnout for the auction, and fingers crossed it will fare well for us,” Najjar adds.
Stavros Ambatzidis of OBrien Real Estate, who was bidding for a client last year, is likely to be waving a paddle again this year.
“I’ve been asked by one party, which, obviously, they want to be kept confidential at this stage,” he says.
Ambatzidis says if Portelli doesn’t show up as claimed, that brings positives and negatives.
“The positive is it opens it up to a lot more buyer advocates – a lot of other buyers won’t be spooked, they’ll turn up,” he says.
“The negative is that Adrian was pushing the prices up, and the contestants might earn less money.”
Ambatzidis believes the properties tick a few boxes for owner-occupiers, and for investors interested in both short-term and long-term rentals, along with people who want to bank land.
However, Ray White’s Aaron Hill, acting for Emma and Ben’s House 1, is a little more cautious.
“There are no Adrians and potentially Dannys now, and there’s not a lot of money around at the moment, to be honest,” he says
What does Hill think of the chances of all five Block properties selling on the one day?
“I don’t think that’s possible; I don’t think that’ll happen,” he says.
“Last year they all sold because Adrian wanted all of them. Every year, there are always two or three that will pass in, and that’s just normal.”
Natalie Fagan, who, with colleague Ashlee McKee, is selling Han and Can’s House 2, says they’ve had interstate buyers coming through, along with buyer’s agents.
“There’s a real spread of semi-retired, retired couples and families having a look,” she says. “So, people who want to live there, and also people who maybe want to use it as a weekender and an investment at the same time, for dual use.”
Fagan describes The Block as “a wonderful and unique beast”, which offers something different each series, adding: “This is the first time that they’ve had to build the houses from scratch.”
While she’s naturally gunning for House 2, the long-time local is hoping all five properties sell.
“I’ll say it once, and I’ll say it again 10 times over, I think that Daylesford wins when all five houses sell,” Fagan says. “And I really hope that all five contestants do really well.”
We recommend
States
Capital Cities
Capital Cities - Rentals
Popular Areas
Allhomes
More
