The Block 2015: Shay and Dean win and take home more than $700,000

Newcastle couple Dean and Shay Paine have won over $750,000 after their penthouse blitzed its reserve at The Block auction finale.

Channel Nine forked out over $2.53 million in prize money to the five couples after all apartments soared above reserve.

None are leaving the old Hotel Saville in South Yarra, transformed into luxury residences, with less than $350,000.

The high school sweethearts tried for several years to convince the show’s producers to cast them. And after three months of gruelling renovations on the top floor of the formerly seedy budget motel, they have collected $755,000 – the difference between reserve and the sale price, plus a $100,000 victor’s cheque.

Their penthouse was bought for $2.3 million by a repeat Block investor who has previously owned – and since flipped – two of the program’s properties, including one in Richmond’s Cameron Street and another from last year’s Glasshouse series.

The other three bedroom South Yarra properties all sold for between $2.2 million – for Luke and Ebony Haythornthwaite’s sub-penthouse – and $1.735 million for Caro and Kingi Tahana’s lowest level apartment.

The winner of The Block is determined by the team that achieves the most over reserve.

Dean and Shay earlier won a challenge and chose to dock their reserve by $15,000.

Had they opted to put the money back into fixing their apartment, they would have tied with WA’s Luke and Ebony.

Shay said she had no inkling that their property would fetch such a price.

“I was like, ‘what is happening?’ [Host] Scotty [Cam] and Dean were getting excited – it was intense,” she said.

“In fact, when we found out our reserve we were a little bit nervous, but we knew that our apartment was fantastic.”

Jellis Craig agent Andrew McCann managed the campaign for the penthouse. It’s his third consecutive Block victory, following Dea and Darren Jolly at Triple Threat, also in South Yarra, earlier this year, and Simon and Shannon Vos at Glasshouse.

Block apartments are commonly bought by investors, due to generous tax depreciation incentives. But this season, two properties were snapped by owner-occupiers, including one retirement-age couple who paid $1.829 million for Suzi Taylor and Vonni Cosier’s gentleman’s club-themed apartment.

They were not originally in the market for a Block abode and simply strolled in off the street on the day.

Suzi said she was speechless and nervous as their auction price climbed.

The Gold Coast mum and former Penthouse Pet of the Year has been battling poor health and spent time in hospital after she was found unconscious on site following the fans’ open day.

“We are great friends … and I am so happy for everyone because we all worked so hard and we have all come out winners,” Suzi said.

“I am pretty emotional today – I am trying to hold back the tears.

“I am really happy for Vonni because she was my support system here. I am happy for my three children – it will make such a big difference. Life couldn’t be better at the moment.”

Luke and Ebony selflessly volunteered to go last, to give the lower level apartments a chance to make profit.

Their sacrifice was a risk that, at first, looked to be their undoing. The buyer pool was depleted and their auction started slowly, with no bids for several minutes. But when the offers finally came – thick and fast – they were quickly in the black.

The underbidder for the penthouse bought their open plan pad for $2.2 million.

Noel Jones agent Andrew Mackintosh was representing a client who was keen to own one of four as an investment and snapped up Andrew Nolan and Whitney Simmons’ apartment after missing out at the earlier auctions.

“He is going to rent it out, so it will be on the rental market soon,” Mr Mackintosh said.

“The pressure was that the penthouse would go for well beyond what an investor might see reasonable, so we didn’t really see that as a strong possibility, but certainly the other ones we were in with a shot.”

In a twist, Caro and Kingi’s apartment was bought by the Mater Foundation in South Brisbane, through buyer’s advocate Nicole Jacobs. It will be offered as the grand prize in a fundraising raffle.

Caro was emotional to learn she and her husband’s hard work would contribute to a charitable cause, raising money for hospitals and medical research.

“That is beautiful, that is amazing and we are very happy about that – it’s the cherry on top of the day,” she said.

Most of the contestants, including the Caro and Kingi and Dean and Shay, said they would pay off their family home with their winnings.

“We said if we ever, ever go the chance to pay our mortgage off, that would be unbelievable, and it doesn’t feel real. We bought the worst house in the best street (back home) and we are going to turn a house unto a home, and we can’t wait to start renovating – I can’t believe I am saying that,” Caro said.

Beauty therapist Whitney, who split with her boyfriend and teammate Andrew in the middle of filming, said she would pay off her parents’ mortgage.

Andrew, who was introduced to Whitney on the dating app Tinder, said he will invest his portion.

Luke and Ebony said they would sling some of their $640,000 winnings to their mother and sister.