Tinkler’s Brisbane land sold for bargain by receivers

first_imgNathan Tinkler has seen receivers sell off multiple properties. Picture: John GraingerJUST when you thought you’d heard the last of Nathan Tinkler, he pops up again. Receivers have just sold another one of his myriad of properties, a bargain buy at less than 40 per cent of the price that Mr Tinkler paid almost a decade ago.The massive 4 hectare block of land is beside his former mansion in Pullenvale.Mr Tinkler had bought the land for $2 million in February 2008, just before the Global Financial Crisis began to wreak havoc on the Australian economy.More from newsMould, age, not enough to stop 17 bidders fighting for this home4 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor4 hours agoThe property at Grandview Road, Pullenvale, QLD The block is beside Mr Tinkler’s sprawling former home.He had been trying to sell the block since February 2010 and was forced into dropping his price to $1.75m in August 2011. When receivers Shaun McKinnon and Said Jahani of Grant Thornton seized the property last year, they tried unsuccessfully to sell it off at auction, before putting a price of $975,000 on it in September. Five months later Grant Thornton dropped the price by $180,000 to $795,000.It went under offer in March and was listed as having sold on April 28 but market updates have not revealed whether the price was forced down even further before closure.last_img

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