Lucky for him,a potentialnever went through,otherwise the landmark estate on Sapphire Beach,north of Coffs Harbour,might have been sold – and the handful of creditors named on title paid back.
As of Friday,there remained five caveats on title claiming interest in the property,but council records indicate that had been paid.
The 15-bedroom,15-bathroom mansion had been drastically discounted from its initial $30 million high hopes of last June,down to its most recent advertised price of $15.9 million.
Sotheby’s James McCowan and David Medina declined to comment after the property was removed from marketing sites,and Tinkler is yet to respond to inquiries,but a local source suggested that Tinkler’s fatherLes Tinkler,might instead move into the property,known as Noorinya.
They could be on to something. After all,Tinkler snr’s cattle farm near Port Macquarie is up for sale for $1.7 million to $1.9 million.
The 40-hectare property is listed with David Nolan,of Webster Nolan Real Estate,who also happens to be selling the family’s thoroughbred stud Serene Lodge at Kendall for $2.25 million to $2.5 million,a neighbouring farm called Batar Park for $1 million to $1.25 million,and a 42-hectare property called Cedar Park for $1.1 million to $1.3 million.
The family’s property empire is owned by the property investment company Serene Lodge Investments Pty Ltd,which remains owned by Tinkler’s late motherZelda,but of which Nathan replaced his dad as a director earlier this year.
It all adds up to $6 million to $7 million worth of family real estate up for grabs,the sale price of which may be of interest to retail billionaireGerry Harvey,given his corporate interests have mortgages on all those properties.
Harvey and Tinkler go way back. Tinkler’s former horse racing empire at Patinack Farm collapsed in 2014 owing Harvey more than $50 million,only to later sell to Hong Kong billionaireTony Fung for $15 million.
Tinkler was declared bankrupt in 2016,but discharged two years later.
The new price is right
Pricing landmark real estate is often tricky,and more so when it’s a long way from the nearest big smoke. Take the Southern Highlands mansion known as Knoyle being sold by antique dealersGary andMaryanne Nolan.
This is the Queen Anne-style residence that was built in the 1880s forCharles Fairfax of the newspaper dynasty,and owned by the Sacred Heart nuns for 70-odd years until sold in 2014 for $3.685 million.
The Burradoo property was listed in the post-COVID property boom of 2021 for more than $15 million,having been restored and renovated by the Nolans.
Turns out,the price was a little bullish,so Dunne Southern Highlands’ Sandie Dunne and Karl Zabel have dropped it to $9.5 million.
Still in the Southern Highlands,Millgate,in Mittagong has sold for $5.8 million toKatie Jagger,wife of Cygnet Capital’sDarien Jagger.
The Jaggers already own locally,having purchased Old Bong Bong Farm at Burradoo in 2021 for $8 million.
Bronte’s record hopes
The Bronte house owned byJoye Rastogi,wife of Double Bay-based cosmetic surgeonDr Anoop Rastogi,is listed with record-setting hopes.
Sotheby’s James Ball said there was no guide at this stage,but is no doubt pointing buyers to two of the area’s recent top sales.
To recap,Bronte’s high was reset at $29.25 million last year thanks to AirTree Ventures co-founderCraig Blairand his partnerMelanie Caffrey,and Tamarama’s at $45 million thanks to New York-based admanDavid Droga.
The Rastogis have owned the three-level house opposite the oceanfront for 20 years,paying $4.6 million in 2004 to PR supremoJudi Hausmann.
Estate matters
The Pittwater residence built byShane Gluskie and her late husbandLaurence on what was previously part of the Finisterre estate at Stokes Point is for sale for the first time.
The family of the late publican John Toohey owned the landmark waterfront estate Finisterre in Avalon Beach in 1990 when a 2000 square metre portion was sold off for $1.67 million to the Gluskies.
The Gluskies,parents to fund managerAngus Gluskie,then built their four-bedroom residence with jetty,pool,boatshed and slipway,remaining there long after Toohey sold Finisterre for $20 million in 2002 to the late yachtie and winemakerBob Oatley.
There is no price guide on offer from LJ Hooker’s Peter Robinson,but interested buyers can expect something in the $20 million range.