From electrician to coal billionaire: In Nathan Tinkler’s $30m home

In four years, Nathan Tinkler turned a $1m deposit in a coal mine in Queensland into a $1b net worth before it all came crashing down, with the last giant piece of his kingdom now for sale.

It’s a “crown jewel” 2.04ha estate befitting mining moguls of old who turned millions into billions in the heyday of boomtime, with 15 lavish bedrooms, 15 bathrooms, a 25m lap pool, custom made children’s playground, a private beach, and ridiculously breathtaking views.

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The estate has its own private beach and three residences including two guest villas.

Bought via one of Mr Tinkler’s companies, Noorinya Holdings for $11.5m in 2008, the Sapphire Beach estate was listed by James McCowan and James Medina of Sothebys International Realty Double Bay who put a price guide of $30m on it last Thursday.

Unsurprisingly, given Mr Tinkler’s willingness to spend heavily on his homes, the property was described as “not just a home – it’s the realisation of your dream lifestyle”.

An electrician by trade, Mr Tinkler was just 30 years old when he proved to be one of the savviest property flippers of his generation, selling an $11m-plus coal mine in Middlemount – that he’d reportedly made a $1m deposit on – for almost $275m in shares in mining giant Macarthur Coal, that he then sold for about $420m a year later.

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There are Asian influences in the architecture.

He was a wunderkind that many businesspeople hitched their wagons to, with his biggest deal being a $480m purchase of a Rio Tinto coal deposit that he then floated with a valuation of $1.2b in 2010 – completing his massive jump from $1m to $1b in just four years.

Mr Tinkler poured millions of those coal gains into prime residential real estate in a way that only billionaires can, amassing properties from acreage estates in Brisbane, to horse stud farms on the Gold Coast and coastal jawdroppers in coastal New South Wales.

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Inside one of several living zones at Mr Tinkler’s Sapphire Beach escape.

Within three years of becoming a billionaire, his indulgent real estate tastes were revealed when he listed his $5.2m Pullenvale mansion for sale in Brisbane – a 1,600sq m property with five living areas in the main residence, a children’s wing, 18-seat private cinema, children’s playground, indoor eight-seat Teppanyaki barbecue grill, professional gym and sauna, championship tennis court, resort style pool, spa, pool bar, fully equipped entertainment facility and even its own beauty salon.

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Nathan and Rebecca Tinkler’s Pullenvale house was packed with just about everything a family could need right down to a hair salon.

He spent seven months unsuccessfully trying to flip the property, even dropping the price to $3.5m at one stage, but it wasn’t until 2017, when receivers Grant Thornton seized the home that it sold for $3.05m – an almost $2m discount on the previous sale price.

Queensland-based billionaire Tony Fung was among those who capitalised on Mr Tinkler’s lavish tastes, buying his massive 447.27ha Patinack Farm Canungra site in the Gold Coast hinterland for $15m in 2015. Mr Tinkler took a $6m hit off that deal.

Now 47 years old, he continues to battle fallout from the collapse of his empire – which saw Mr Tinkler being disqualified from managing companies for three-years and nine-months by ASIC in May 2017.

Now well clear of the ASIC disqualification for several years, his last remaining “crown jewel” is set to spark a new generation of richlist interest in one of the hottest real estate markets on records, with the sprawling 2.04 hectare estate having three lavish homes – the enormous main residence plus two luxury villas for guests.

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King of the hill: The Sapphire Beach estate has three lavish houses on it.

“Revel in the luxury of ample space for your car collection, the privilege of working from a state-of-the-art home office, and the joy of hosting in grand, versatile spaces that transform according to your needs” was how it was listed.

The property was said to be “more than just a residence – it’s an experience in opulence” with the private beach a particular standout, as well as the second-level balcony with some of the most jawdropping views in the area.

The property is for sale via private treaty with a $30m price guide.

Article source: Queensland Property Investor