Neds boss Dean Shannon knocks back $5.6 million for Maleny equestrian estate

Dean Shannon, the former chief of Ladbrokes Australia, and now the managing director of the Neds gambling website, and his wife Kelly, who shares his love of horses, failed to find a buyer.

The bidding at the Sunday onsite auction stopped at $5.6 million for the 42 hectare Maleny holding, marketed as one of Australia's most impressive equestrian facilities, located an hour from the Doomben race track.

The stable complex is the focal point as it features 10 double-sized broodmare boxes, two stallion boxes, wash bays, a vet room, horse scales, tack room, rug room and feed room.

There's 45 post and rail paddocks and two Olympic size dressage arenas.

The luxury is not just for horses, as the main residence spans a vast 1,800 sqm and has five bedrooms, eight bathrooms, a steam room, massage room and dressing rooms.

The entertaining spaces have views of the Glass House Mountains.

Ray White Buderim agents Lew Pottinger and Nathan Nicholl marketed the equine complex with its own website.

Since Shannon bought Montana Park in 2010 for $7 million he more than doubled the size of the original residence as well as covering one of the two show-jumping arenas.

“Montana Park is a place we love to call home, however my current business commitments with the launch, and now international expansion of Neds have seen me spend more time in Brisbane and on the Gold Coast, with less opportunity to enjoy all this home has to offer,” he said prior to the auction.