Brian Peat and Eileen Peat in front of their home Grand Vista. Picture: Richard Gosling

A MEGA mansion on the Sovereign Islands has hit the market for $14.88 million, more than double its 2010 selling price after major renovations.

Vendors Brian and Eileen Peat bought Grand Vista at auction for $7 million from receivers in 2010.

It was fallen Gold Coast developer John Fish’s mansion which had previously been on the market in 2009 for $15 million.

Brian and Eileen Peat have put their sprawling mansion on the market. Picture: Richard Gosling

Mr Fish paid $6.5 million for the home in 2003 and had undertaken a major refurbishment but when the Peats bought the property it was incomplete and hadn’t been maintained

They then spent big bucks transforming it from a Mediterranean-style mansion into a contemporary resort-style haven.

“The owner virtually ran out of money,” Mr Peat said.

“The floor was concrete, the kitchen was tiny and there were whole areas of blank space.”

“We rewired a lot of things, changed the lighting and installed CBUS throughout.”

The pool is a sight to see. Picture: Richard Gosling

The home takes up most of the 2103sq m block and overlooks the Broadwater.

It has 55m of water frontage and features multiple entertainment areas, seven bedrooms and nine bathrooms with extensive marble and timber flooring.

The Peats have lived on the Sovereign Islands since 2007 and said Grand Vista’s privacy, luxury features and sprawling design initially sparked their interest.

“A lot of big houses don’t have the separation that this property does,” Mr Peat said.

“You can have a big house but you are all on top of each other whereas here there’s plenty of different areas.”

Brian and Eileen Peat in the entertainment wing. Picture: Richard Gosling

Prestige Property Agents principal Amir Mian is marketing the property.

“It suits someone wealthy who wants privacy and wants something unique,” he said.

“There’s no blocks available on this side now with three blocks and city views so you cannot replace this now.”

Tour this palatial mansion in tomorrow’s Gold Coast Bulletin Realestate magazine.