Salim Mehajer will sell his luxury home featuring a $1million staircase with the disgraced property developer owing $24million to creditors.
Mehajer has handed over the keys to the six-bedroom, five-bathroom and four-storey home on 14 Frances St at Lidcombe, in Sydney ‘s west.
It is one of two properties he has been forced to offload after he declared bankruptcy in 2018.
Mehajer had attempted to block the sale of the two homes by the National Australia Bank before his application was rejected by the Federal Court in December.
The luxury home was made famous after its million-dollar staircase was featured in a rap video made by US artist Bow Wow. A Swarovski crystal chandelier, jacuzzi, private sauna, 13-car basement and home theatre are also included in the luxury mansion.
The property was bought for $565,000 in March 2007. A $25,000 pool and spa was then added in 2009.
The property was valued at $3million in 2017 and is expected to fetch around $3.5million.
The potential value could make it the most expensive property in the suburb beating the previous record of a house that sold for $2.851million in November.
Mehajer boasted about the design of the house in an Instagram post made in 2017.
‘Did you know I designed, built and hand picked every single item in the house, from the screws that are (in) the hinges to the light bulb luminosity,’ he wrote.
The house was put up for sale in May and November 2012. ‘A masterpiece luxurious house!!’ the listing read.
‘Be surprised by the exceptional lifestyle this masterpiece has to offer.
‘Undoubtedly it is one of the most impressive homes built in Lidcombe. Set over 4 levels this architectural achievement is styled to showcase opulent interiors and stunning finishes.’Open the doors to a grand entrance where you are greeted by a marble sweeping staircase with curved glass and a custom made Swarovski crystal chandelier.’NAB said the bank was in possession of the house and that agents have been appointed to look after it, realestate.com.au reported.Mehajer is currently residing at Cooma Correctional Centre.He was found by a magistrate to have lied under oath to further his business interests and was handed a two year and three month sentence in 2021.
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