Nathan Tinkler pulls ocean-front Coffs Harbour mansion off market after failing to find buyer
Nathan Tinkler’s oceanfront mansion near Coffs Harbour is officially off the market, with initial hopes of selling for $30 million failing to materialise.
Nathan Tinkler’s oceanfront mansion near Coffs Harbour is officially off the market.
After reports the former coal magnate had found a buyer willing to fork out $25 million for his Sapphire Beach estate in August last year, it has since been revealed the deal never closed.
Tinkler initially had hopes of selling the mansion for $30 million.
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By continuing you agree to our Terms and Privacy Policy.The property was listed with James McCowan and David Medina from NSW Sotheby’s International Realty.
Sotheby’s selling agent Mr McCowan was quoted at the time as saying the lavish property was snapped up by a successful person from the Coffs Harbour area.
However, the sale did not eventuate and the property has since been removed from online listing sites.
Tinkler bought the property in July 2008 for $11.5 million.
The agents could not be reached for comment.
Tinkler initially listed the 15-bedroom, 15-bathroom mansion with a guide of $30 million before dropping it to its most recent advertised price of $15.9 million as of September 2023.
Documents show five caveats on the title claiming an interest in the property.
Tinkler purchased the sprawling home from Microsoft pioneer Jaybe Ammons and his wife Shelley.
The property includes a 25-metre lap pool and there’s also a children’s playground and a second-level balcony with views over Solitary Island Marine Park.
Records show the title is held in the name of Noorinya Holdings of which Mr Tinkler is the director.
Mr Tinkler purchased the property in July 2008 for $11.5 million from Microsoft pioneer Jaybe Ammons and his wife Shelley.
In June last year, the Newcastle Herald reported the administrators of a Nathan Tinkler company which once owed creditors half a billion dollars had not forced the sale of the house.
It followed reports in 2021 that a US-based accounting firm, FTI Consulting, was threatening to take possession and force the sale of the house after Noorinya Holdings allegedly defaulted on a syndicated loan agreement.
Mr Tinkler, who once owned the Newcastle Knights, famously went from billionaire in 2011 to bankrupt several years later owing $540 million.
His bankruptcy was annulled in 2018, but he has continued to face disputed demands for payment from various creditors.
