Mark Swanepoel, pictured with wife Sammi, and the lavish Bonogin estate for sale
Rugby player turned Gold Coast loan shark Mark Swanepoel has cut the asking price of his sprawling estate, modelled on a luxury US lake house and complete with a million-dollar artificial lake and private beach.
The Hamptons-inspired luxury property has been re-listed at $7.495m, one year after hitting the market as Swanepoel’s payday lending company Cigno Australia faced an extended probe by the Australian Securities and Investments Commission (ASIC).
In May 2024, the Federal Court found Cigno Australia and its lender, BSF Solutions, engaged in credit activity without a required licence and charged consumers prohibited fees.
The estate was modelled on a US lake house
It has been on the market for more than a year
There’s a waterfall, firepit, and sunbathing area
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Cigno director Swanepoel was also involved in the Credit Act breaches, the court found, providing short-term loans totalling over $34m and charging over $70m in fees to more than 100,000 consumers between July 2022 and December 2022.
Swanepoel played for the ACT Brumbies and Western Force Super Rugby before launching the under-fire financial model, providing high-fee “emergency cash” loans of between $50 and $1000 to battlers.
His 3ha Bonogin estate was formerly listed at $8m, marketed by Amir Prestige agent Karen Pirie and Tina Nenadic, of Gold Coast Property.
Ms Pirie described the Garlinge Ct property as one of the most unique she had seen, featuring a freshwater lake and tropical grounds, understood to be the first of its kind in Australia when it was developed by the owners at a cost of more than $1m.
Former ACT Brumbies player and payday lending company operator Mark Swanepoel
“This stunning estate in Bonogin Valley has been designed to replicate the grand US lake houses on a smaller scale, and features a private, man-made freshwater lake,” she said.
“This isn’t just a pond; it’s a meticulously designed aquatic feature complete with a freshwater filter system making the water drinkable, a sandy beach to sunbathe or enjoy a cocktail, a cascading waterfall, a timber jetty, BBQ area, and fire pit.”
The five-bedroom, five-bathroom home includes a luxurious kitchen with marble benchtops, cinema room, and an entertaining lounge with a stone bar, leading out to the pool and al fresco spaces including sweeping patios and a pavilion.
The Hamptons-style kitchen
Lavish entertaining lounge with bar
The home cinema
There’s a downstairs studio apartment and triple bay shed plus horse stables, as well as a separate two-bedroom, two-bathroom guesthouse, while a creek runs through the property.
Records show the property was held by a company directed by Ryan Swanepoel, while brother Mark is listed as a member and lived at the house.
It has been vacant since last year, Ms Pirie said.
Cigno Australia and BSF Solutions appealed the Federal Court’s decision at a hearing in November 2024. Judgment has been reserved.
PropTrack data shows house prices in Bonogin were up 19.8 per cent over the past year, to a median of $1.725m.
The property caters for multigenerational living with a separate guesthouse and self-contained apartment
English (US) · 