Riverview, the Sovereign Islands castle bounces back onto market

The recent buyer of The Sovereign Islands castle, Riverview has listed it for November 23 auction.

John Corbett paid $5.325 million for the unique Knightsbridge Parade West home in July last year. It has 2400 square metres of floorspace, including a rooftop terrace.

Rather than renovating the sprawling castle into something more contemporary, Harcourts Coastal luxury property specialist Glenys Pitkin has the listing with colleague Shaun Kaddatz.

Ms Pitkin told the local paper John Corbett intended to live in the house but had changed his mind, wanting to downsize and spend more time travelling.

Riverview sits on a 1458 square metre holding. With seven bedrooms and nine bathrooms, the Paradise Point property had a $20 million tag when it first listed in 2010.

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Photos from the previous listing of Riverview.

The castle was built for Ron and Mollie Litherland who bought the site for $3.75 million in 2007.

Mr Litherland estimated that the replacement cost for the house, which was made using core filled sandstone blocks, was $8 million.

The last big sale was when Riccardo Rizzi paid $5.3 million for the unfinished Marks property mid-year.

Late last year there was a $6.65 million sale at 50 Knightsbridge Parade East.