The Sydney home, once occupied by disgraced property developer Salim Mehajer, with a $1million marble staircase, will hit the market soon.
The keys to Salim Mehajer’s infamous mega-mansion have finally landed in the hands of creditors as the disgraced former property developer remains behind bars.
The luxury home in Lidcombe, Sydney’s west, which could sell for over $3.5million, has been successfully repossessed by National Australia Bank.
Mehajer in December had a request for an injunction to prevent NAB from selling his two Lidcombe homes rejected by the Federal Court.
A judge found the request an “abuse of process,” ultimately allowing the bank to repossess the two homes, for which Mehajer had defaulted on loans.
The former Auburn City Council deputy mayor was declared bankrupt in 2018 and found to be $24 million in arrears.
Four million of that was a NAB loan for two Lidcombe properties, a court heard, on which he defaulted.
NAB sought to repossess and sell his two homes – the mansion and another nearby on Ann Street.
Mehajer now has no choice but to wait impatiently for Cooma Correctional Center for his six-bedroom, five-bathroom home with a million-dollar staircase to hit the market.
The house, bought by Mehajer in 2007 for $565,000, has been the focus of national attention in recent years, including in a video by American rapper Bow Wow.
The 845 m² mansion was in 2017 advertised for rent at $2,950 per week.
It also has a “13-car basement, home cinema with massage chairs”, Swarovski crystal chandelier, jacuzzi and private sauna.
“Did you know that I designed, built and hand-selected every element of the house, from the screws that are (in) the hinges to the light bulb brightness,” Mehajer wrote in a 2017 Instagram post after having announced that he was leaving the house and renting it out.
Mehajer was jailed early last year for at least two years and three months for lying under oath to further his business interests.
NAB declined to comment when contacted by news.com.au.