Tinkler land sold for half what he paid
Contracts have been signed on one of the last assets of failed coal billionaire Nathan Tinkler.
Contracts have been signed on one of the last assets of failed coal billionaire Nathan Tinkler with a vacant Brisbane land holding selling for less than half its purchase price of more than a decade ago.
Mr Tinkler paid about $2 million for the little over 4ha of suburban land more than 10 years ago, but it is now under contract for less than half that.
The 447 Grandview Road, Pullenvale site failed to sell at auction last year and was placed on the market through Brisbane agent Johnston Dixon Quality Property acting for receivers Grant Thornton at a price of $980,000.
The asking price was further slashed to $795,000 and it is understood a buyer has agreed to buy it at around this price.
Receivers also finally sold the palatial Brisbane residential estate of Mr Tinkler late last year for $3,050,000, well under the $5.2m purchase price.