Businessmen Adrian ‘Mr Lambo’ Portelli, Danny Wallis and David Brandi are set to return for The Block’s auction day later this month.

But the trio of big spenders who have dominated the bidding on the hit renovation show in past seasons could be facing strong competition.

Potential rivals to the three high flying multi millionaires for this year’s five Phillip Island homes include a pair of mystery buyers and a seasoned real estate insider.

Wallis, Portelli and Brandi have splashed out a whopping $53.9million between them during The Block auctions over the last 13 years.

Meanwhile, buyers agent, Frank Valentic, has announced his interest in The Block auction, with an eye to snap up one or more of the five homes as a vacation getaway.

‘Phillip Island has a strong Airbnb return around $190,000 to $220,000 per year,’ he told the Herald Sun on Tuesday.

A familiar face at Block auctions, Valentic added: ‘So if you pick up one of The Block 2024 homes for $2.5m you’re getting about seven per cent return plus the extra $3000 in tax depreciation.’

Also fronting the Block auction this year will be Melbourne business owners Tom Omerod and Ollie Howard.

Businessmen Adrian ‘Mr Lambo’ Portelli, Danny Wallis and David Brandi are set to return for The Block’s auction day later this month. Pictured: Adrian ‘Mr Lambo’ Portelli

Buyers agent, Frank Valentic, has announced his interest in The Block auction, with an eye to snap up one or more of the five homes as a vacation getaway. (Pictured)

Potential rivals to the three high flying multi millionaires for this year’s five Phillip Island homes include a pair of mystery buyers and a seasoned real estate insider. Pictured: Inside Kylie and Brad’s House 4 which has been listed with a price guide of $1,700,000 to $1,850,000

They confirmed last month that they plan to purchase at least one of the Phillip Island holiday homes.

The pair are founders of Paradoor, a co-ownership venture which has getaway pads in prestige vacation destinations in Queensland, NSW and Victoria.

But in a unique twist, Howard and Omerod won’t be bidding for themselves come The Block auction day. Instead, they will be representing a group of buyers.

Wallis (pictured), Portelli and Brandi have splashed out a whopping $53.9 million between them during The Block auctions over the last 13 years reported the Herald Sun on Tuesday

The pair promoted their scheme on the Paradoor website, telling hopefuls that they can buy a 1/8 share of a Block bid for ‘just $350,000.’

If the bid is successful it will mean eight families (or less) can get access to the Phillip Island luxury pad for up to 44 nights a year.

And as part of the deal the property is managed by Paradoor, with bookings secured through their app.

Of the three notorious Block bidders, Wallis, an IT entrepreneur has spent the most on the show, splashing out $30million buying property during final auctions.

Adrian ‘Mr Lambo’ Portelli, made headlines during the Block auction last year after splurging $12.4 million on three homes.

And in September it was reported that the entrepreneur was out to buy all five of the renovated holiday homes on Phillip Island, in a deal that could total up to $15 million.

Portelli is yet to confirm the story after Daily Mail Australia reached out for comment.

Investor David Brandi, meanwhile, bought his first property on The Block in 2011.

Blockheads Kylie and Brad

He stills own the luxury Port Melbourne flat he bought for $2.305m on the show back in 2016.

Meanwhile, Blockheads for this year’s 20th anniversary season are facing plenty of competition in the Phillip Island market alone.

Listings indicate that 200 homes are currently up for grabs in Cowes, where The Block was filmed this year. Nine feature price guides capped at $2.5 million.

The 2024 guide prices are lower than last year’s and a huge decline from the massive listings in 2022, which ranged from $4 million to $4.4 million.

Channel Nine splashed a reported $8.758 million to buy up the five Phillip Island homes.

The 2024 guide prices mark a drop-off from last year’s and a huge decline from the massive listings in 2022, which ranged from $4million to $4.4million.

Daily Mail Australia has contacted Channel Nine for comment.