Let's be fair to these guys, he's been taking a risk in mining since 1971. His arthiritis is getting the better of him. Also, the building with a few architectural modifications may well be made into 3 or 4 apartments with million dollar views. We all know that houses may be WORTH something or a valuer may put a price on it but that doesn't mean it'll sell for that amount for years perhaps.
They didn't spend $25 million to buy it, nor have the sold it so they hardly have the money either. I suspect they agreed to do the story with The West in order to create publicity for it.
And to be fair again, they may well have donated money to charity and not made a big deal about it. And I refuse to believe that the vast majority of succesful businessmen never came close to losing the lot sometimes if not for good fortune and a few favours called. Some people were doomed to lose all their money in the stock exchange due to the Kobe earthquake in '95/96? Luckily they held on tight and made their fortune about a year later. The roller coaster rides can be knuckle whitening. This guy may have had such moments.
Why the resentment billy bones?
Applecross mansion could set record
Lisa Calautti, The West Australian
May 14, 2011,
An Applecross mansion on a 2508sqm block with a 39m river frontage could set a new record for Perth's southern suburbs if it fetches anywhere near its $25 million asking price.
It could also become one of Perth's top-five house sales, currently led by the $57.5 million sale of iron ore heiress Angela Bennett's Mosman Park home in December 2009.
Real Estate Institute of WA figures show the record for a home or apartment in Applecross was $19.9 million for two apartments at the Raffles building in September 2009, and $13.25 for a Duncraig Road home in February.
Built on the Majestic Hotel site and completed in 2004, the Applecross residence, the dream home of its owners Peter and Pauline Langford, has 1500sqm of indoor and outdoor living space.
It has seven bedrooms and seven bathrooms across three levels, travertine flooring, a library, a gymnasium, a separate self-contained apartment and an eight-car garage.
After buying the land in the mid-1990s, the Langfords spent a number of years perfecting the home's design.
The eventual design was inspired by the work of American architect Addison Mizner, well known for his signature style of Moroccan, Italian and Spanish influences, as well as for designing extravagant Florida mansions.
So intent on creating a timeless architectural masterpiece, the couple flew their architect, Allan McDonald overseas for inspiration
"I was doing work in Germany at the time and flew him to Florida. We spent the week there looking at houses and we'd come back to our hotel every night and sort through all these ideas," Mr Langford said.
"We spent the best part of two-and-a-half years messing with the design. Once we finished it was built in 14 to 15 months."
Mr Langford is a self-made millionaire who formed his own mining service business Beltreco in 1971, which now has 23 operations nationally.
He said selling the house had not been a decision he and his wife had made lightly.
After suffering painful arthritis in his hands and feet, retiree Mr Langford said it was time to move on, but exactly where was tough.
"Where do you go after living here," he said.
"It has been a big issue for the two of us. We've looked at apartments in South Perth and Crawley …it's a real wrestle I've got to tell you."
The home has been on the market for a couple of weeks and Mr Langford said a few people had shown interest.
"We are not selling it for financial reasons, so if it does not sell it's not as though we are stuck living under the Guildford bridge," he said.
