The Australian millionaire Daniel Tzvetkoff, who is of Bulgarian origin, has paid AUD 28 M for a mansion in the state of Queensland, the Australian reported Tuesday.

The mansion is one of the most expensive pieces of property in Australia. It will cost AUD 50-70 M when completed, and will be the largest on the Australian Gold Coast.

The 25-year old buyer was born in Ipswitch, Queensland, to Bulgarian parents and grew up in the state capital and third largest city in the country Brisbane.

At the age of 18 he started the online payment business Instabill. Tzvetkoff is the father of one, and will be getting married in the coming months. In his words, he had purchased the mansion to make it his family home.