The Block will have its Gatwick auction on Saturday and screening on Sunday.

But after months of renovation and hard work, will it go into profit? Hardly.

St. Kilda resident FOX FM’s Kate Langbroek inspected the site with producer Julian Cress (pictured left) who summed it up bluntly.

“He said, ‘We bought it for $10m, we’ve spent $15m. So that Block is worth $25m,” Langbroek said on radio this week.

“And he said ‘If we’re lucky we’ll get $13m back. I’m the stupidest property developer in Australia.’”

But as Cress told TV Tonight several years ago, The Block is not about making real estate profit. It’s about producing a hit TV show, which has underpinned Nine for months on air and pulled in millions in revenue.

Although as noted by FOX FM co-host Dave Hughes, who bought at 2017’s Elsternwick property, if you’re in the market you probably want to buy from the stupidest developer in the country….

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