US BREEDING GIANT EYES TINKLER'S PATINACK FARM
Written on the 16 October 2014 by Nick Nichols
AMERICA’S largest thoroughbred group, Spendthrift Farms, is among the potential buyers keen to snare the remnants of Nathan Tinkler’s horse racing empire on the Gold Coast.
A week out from the planned auction of Patinack Farm at Canungra, marketing agents have revealed strong international interest in the prime equine asset, including parties from the United Arab Emirates, Hong Kong and New Zealand.
There already are 12 registered bidders for the auction which will be held on site on October 23.
Marketing agent Cameron McPhie, of LJ Hooker Surfers Paradise, says the high-profile campaign has drawn strong interest in the property which is being offered as a single lot or four separate lots.
The lots, which have a combined land area of 447ha, comprise the original horse breeding property Wadham Park, the adjacent Elysian Fields training facility, and the Saravale and Benobble breeding and agistment facilities.
McPhie says Spendthrift Farms, which has a significant breeding operation in Kentucky with 25 stallions standing, is a genuine starter for the auction.
He says representative from Spendthrift have travelled from the US to inspect the property.
“They are very interested in setting up operations in the southern hemisphere and they are looking at it very seriously,” McPhie says.
There also has been strong interest from the domestic racing industry, particularly from Victoria, he says.
Tinkler has emptied all livestock from the property, selling most of them through the Magic Millions sales earlier this month. The former billionaire’s other Patinack Farm, in the Hunter Valley, is set for auction a week after the Canungra sale.
McPhie says buyers have been attracted by the property’s “first-class improvements which is absolutely second to none”.
“There has been no expense spared on the development of the property and all facilities are of the highest standard and state of the art construction.”
The property has its own helipad, hospital barn, vet stations and stabling for up to 80 horses in work.
Author: Nick Nichols